Reps Propose N70 Per Litre For Petrol

By Adedapo Adesanya The Naira appreciated against the US Dollar in the Investors and Exporters (I&E), the Peer-to-Peer (P2P), and the black market arms of the foreign exchange (forex) market on Friday, September 29, as a turbulent third quarter ended. In the official segment, the local currency improved its value against the greenback by 2.6 per cent or N20.04 to close at N755.27/$1, in contrast to the preceding day’s N775.31/$1 amid a drop in the supply of FX into the system by 11.6 per cent or $16.73 million to $127.82 million from the $144.55 million published on Thursday. In the

Traders Union (TU) experts know that supply and demand rules control all markets. When traders trade, they usually use technical signals to find out if there is more supply or demand. In this guide, the analysts will delve into the world of supply and demand zones and explore their significance in trading. But before you dive in, it’s crucial to grasp the fundamentals. What you should know about supply and demand zones The guidance from TU’s analysts provides insight into the crucial aspects of demand and supply zone trading. It is important to understand these zones: Supply Zone – this

By Dipo Olowookere No fewer than 15 Nigerian Small and Medium-sized Businesses (SMBs) will share the N75 million set aside by a tech giant, Google, in the 2023 edition of Hustle Academy Fund. The initiative was introduced in 2022 to provide equity-free funds to small business owners to scale up their operations and support entrepreneurial growth in Nigeria. Entries for the exercise opened on Thursday, September 28 and will close on Thursday, October 12, 2023, and to be eligible, businesses must be Nigerian-founded, operating within Nigeria for 1-5 years, and have a clear and scalable business plan. They should have

By Dipo Olowookere The sum of N647.39 billion has been shared to the federal, states and local governments from the federation account. The amount was the money generated as revenue in the month of February. This information was made known at the end of the Federation Accounts and Allocation Committee (FAAC) meeting on Wednesday. The meeting was declared inconclusive yesterday after issues with the money from the Nigerian National Petroleum Corporation (NNPC). It was gathered that the revenue figures presented by the Accountant General of the Federation (AGF) was adopted at the meeting today and shared among the three tiers

By Modupe Gbadeyanka Stanbic IBTC Pension Managers Limited (SIPML), a subsidiary of Stanbic IBTC Holdings PLC, has announced its sponsorship of the 2019 edition of Art X Lagos. ART X Lagos is West Africa’s first international art fair, designed to showcase intriguing and innovative contemporary art from the African continent and diaspora. This year, SIPML is sponsoring Art X Modern which is a newly created section dedicated to celebrating pioneers of African modern art from the 20th century. A statement from the organisers said this year’s edition of event will hold at the Federal Palace Hotel from Friday, November 1

By Dipo Olowookere A Court of Appeal sitting in Enugu on Friday dismissed the preliminary objections brought before it by Chairman of Innoson Motors, Mr Innocent Chukwuma, and his company, Innoson Motors Ltd. Innoson, arguing through his counsel, Prof. McCarthy Mbadugha, had at the last hearing of the matter on June 14, 2018 raised objections to a motion brought before the court by GTBank seeking to amend its notice of appeal before the court. Delivering ruling yesterday, Justice Ogunwumiju held that the court would be in serious error if it decides to wait and hear Innoson Motors preliminary objection. “There

By Sodeinde Temidayo David The federal government is set and bring back refugees across the world, the Minister of Humanitarian Affairs, Disaster Management and Social Development, Ms Hajiya Sadiya Farouq, has disclosed. She said this in Abuja when a delegation from the United Nations High Commissioner for Refugees (UNHCR), in Geneva, paid her a courtesy visit. “The Nigerian government is poised towards ensuring the voluntary return of Nigeria Refugees in neighbouring countries as a result of the activities of Boko Haram and we are committed to implementing this in line with international best practices. “The Nigeria government is presently hosting

By Adedapo Adesanya  The Akwa-Ibom State Government has called on the federal government to ensure an urgent revamping of the moribund Aluminum Smelter Company of Nigeria (ALSCON). This plea was made by the state governor, Mr Emmanuel Udom, while playing host to the Minister of State, Mines and Steel Development, Mr Uchechukwu Sampson Ogah, at the Government House, Uyo. Speaking, Governor Udom said getting back ALSCON on stream to operate optimally has been a dream he would love to see come true. Apart from the possible revitalisation of ALSCON, the governor also spoke with the Minister on issues bordering on

By Modupe Gbadeyanka Federal Government has been urged to ensure no import duty or Value Added Tax (TAX) is placed on all renewable energy products in the country. This appeal was made by President of the Renewable Energy Association of Nigeria (REAN), Mr Segun Adaju. The association head, who spoke on Tuesday in Abuja, explained that this would move would assist in encouraging more investors in the renewable energy sector and also enhance its growth. According to Mr Adaju, a tax-free policy on all Distributed Renewable Energy Products (DREP) like batteries, inverters, charge controllers and others would promote in-country assembly

By Modupe Gbadeyanka Chief Executive Officer of MainOne, Ms Funke Opeke, has been named as the 2018 Data Centre Dynamics Business Leader of the Year. She was bestowed with this honour by the Data Centre Dynamics (DCD) Awards at the Royal Lancaster, London on Thursday, December 6, 2018. The Business Leader of the Year Award recognises a company or individual who has done the most over the past 12 months to build the profile of the data centre industry to key stakeholder groups including investors, shareholders, financiers, owners, operators, the media and/or government. Selected by an independent panel of data

By Brian Abel Nigeria has long been considered Africa’s largest economy in terms of GDP, this should come as no huge surprise, especially considering its population of over 200 million, making it the largest in the continent, and boasting an abundance of natural resources, as well as strong trade links with its neighbouring countries. However, as vast as the Nigerian economy may appear to be, it is still very much going through stages of growth. Helping to drive this evolution is the rapid digitalisation of many economic sectors. Consider the financial sector, for example, while Nigeria has been a major