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Economy

Sage Grey Backs Impact-Driven Financial, Technological Solutions

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Sage Grey

By Modupe Gbadeyanka

A leading technology firm, Sage Grey Technologies, has reaffirmed its commitment to driving financial inclusion, SME growth and technological innovation through strategic partnerships and product development.

The firm, alongside its sister company, Sage Grey Finance, said it is making efforts to expand financial access for SMEs, drive technological advancements, and contribute to sustainable economic development through solutions.

“We are committed to building technology solutions that not only enhance business operations but also create social impact.

“Our goal is to bridge efficiency gaps in Nigeria’s digital ecosystem while ensuring that businesses and individuals benefit from technology-driven opportunities,” the Chief Operating Officer of Sage Grey Technologies, Mr Yemi Jinadu, stated.

Also, the Executive Director of Sage Grey Finance, Mr Jumo Atiba, said, “At Sage Grey Finance, we believe in the transformative power of impact financing.

“Our unique position in Nigeria’s financial ecosystem allows us to unlock opportunities that generate both financial returns and meaningful social impact.

“As a licensed and regulated entity by the Central Bank of Nigeria, we seamlessly blend profitability with social impact. Our integration into the Nigeria Inter-Bank Settlement System ensures we deliver secure, efficient financial services, setting us apart.

“Our journey is rooted in empowering businesses, fostering sustainable development, and creating enduring value for our stakeholders and communities.”

Sage Grey Technologies’ product innovations include Splitmulti, a digital marketplace that allows businesses and consumers to make bulk purchases at wholesale prices, providing cost-effective solutions for retailers and end users; Proxze, a platform that connects businesses with verified service providers, including business professionals, simplifying compliance and financial management; Adzplug, a street-level advertising solution that allows shop owners to earn passive income while giving brands direct access to local markets; and Nkiru, a customer support solution that provides corporates and SMEs with digital reception services, helping them establish a professional presence without physical office costs.

On its part, Sage Grey Finance offers a tailored SME funding scheme that enables small businesses to access financing at a highly competitive 9 per cent interest rate.

It also support small business owners through partnership with the National Association of Small and Medium Enterprises (NASME) to facilitate direct engagement with entrepreneurs, ensuring that financing solutions reach those who need them most, and improve access to capital to underserved groups such as women and youth by providing dedicated financial products designed to foster economic empowerment.

Modupe Gbadeyanka is a fast-rising journalist with Business Post Nigeria. Her passion for journalism is amazing. She is willing to learn more with a view to becoming one of the best pen-pushers in Nigeria. Her role models are the duo of CNN's Richard Quest and Christiane Amanpour.

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Economy

Nigerians Buy Petrol N930 Per Litre as Naira-for-Crude Deal Fails

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petrol consumption nigeria

By Adedapo Adesanya

Nigerians, after facing respite with reduced price of premium motor spirit (PMS), known as petrol, in recent weeks, are now faced with a new challenge as the product retails for as high as N930 per litre in Lagos and higher in other parts of the country.

While Business Post gathered in Lagos that it retails for N930 per litre, it is selling as high between N950 and N970 per litre, depending on the filling stations in Abuja and northern parts of the country.

Our correspondents gathered from three filling stations, including Mobil, AP, and Northwest, that prices were around N930 per litre.

The new price regime followed an announcement by Dangote Refinery temporarily halting the sale of petroleum products in Naira, which is a result of a price war brought on by the deregulation of the downstream sector.

The $20 billion refinery based in Lagos said the sales of its products in Naira have exceeded the value of Naira-denominated crude it has received from the Nigerian National Petroleum Company (NNPC) Limited.

“This decision is necessary to avoid a mismatch between our sales proceeds and our crude oil purchase obligations, which are currently denominated in US Dollars,” the company said in a statement earlier in March 2025

“As a result, we must temporarily adjust our sales currency to align with our crude procurement currency,” the company explained.

Over the last few months, the price war between the NNPC and Dangote reduce prices to as low as N830 per litre— easing pressure on Nigerians.

However, with oil prices rising in the international market, the landing cost of imported petrol has increased to a high of N885 per litre last week.

On February 26, 2025, the $20 billion refinery owned by Africa’s richest man and industrialist Aliko Dangote slashed the ex-depot price of petrol from N890 to N825 per litre.

Under the new arrangement, customers purchased the petrol at N860 per litre at selected outlets in Lagos, N870 in the South-West, N880 in the North, and N890 in the South-South and South-East.

Almost immediately, the NNPC reduced its retail price from N945 to N860 in Lagos, with a similar price reduction reflected at NNPCL outlets in other states of the Federation.

Now, with the cost of landing cost increasing imported petrol costs, Dangote Refinery will be seeking to play its card to cover its margins.

Recall that last month, the NNPC suspended the Naira-for-crude deal with private refiners, including Dangote Refinery, fuelling its suspension of the sale of petrol in local currency.

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Economy

Exchange Ethereum (ETH) to Tether TRC20 (USDT)

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Ethereum in Nigeria

Crypto conversion may be required for diverse causes. Any user wants to do it fast and profitably. In this circumstance, you can use different ways. Using individuals is operated caustically since it does not ensure security at all. There are many scammers on the Internet, so you can lose your funds in a few minutes.

You can use crypto exchanges or exchangers to profitably swap Ether cryptocurrency to Tether USDT stablecoin in TRC-20 network. Both choices are quite trustworthy, so the user can be certain of the security of transactions. Nevertheless, there are distinctions between them.

How is a crypto exchange distinct from an exchanger?

If you swap Ethereum to Tether TRC20, you must select a more profitable key. Not all users manage to fill out a charge correctly on exchanges, so you need to wait until you come across a promising deal. This may take several days, but you can wait if conditions allow. In this case, although longer, the user can swap crypto at the rate he prefers. Transactions should not be anonymous, and signup and confirmation should be required.

You won’t have to search for swap services for a long time. Just go to www.bestchange.com/ethereum-to-tether-trc20.html. Here, you can select an exchanger to exchange Ethereum (ETH) to Tether TRC20 (USDT). Such services have the next benefits:

1. To purchase Ethereum (Ether) cryptocurrency, you do not need to study the intricacies of trading. The interface is easy: the user chooses the exchange direction and enters the needed amount.

2. When selling and purchasing, the user uses his own crypto wallet; it does not require to transfer funds to the service. In this case, he can be sure that they will not fade.

3. The exchangers present several exchange directions at once, and the user can pick just the one requires.

A tremendous benefit is the lack of registration and identity validation with documents. This permits you to save time and keep the anonymity of transactions. In addition, there are no extra payments in the exchangers. The principal commission is already included in the exchange rate. There is also an option to acquire extra bonuses for regular cooperation.

How to convert cryptos?

The process is very fast. Just go to Bestchange, where the rating of confirmed exchangers is shown. Next, choose the proper service and click on its name to go to the official website. Be sure to read the terms of service. After that, the user fills out an application with the swap direction, amount, and crypto wallet number. The application is sent for validation; the user contacts the service representative to obtain payment details. It must be satisfied within a certain period; otherwise, the application will be canceled. Next, you need to wait until the crypto arrives in the wallet. For all questions, you can reach technical support around the clock.

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Economy

Naira Appreciates to N1,550/$1 at Parallel Market

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Naira-Dollar exchange rate gap

By Dipo Olowookere

The Nigerian Naira had a good outcome at the parallel market segment of the foreign exchange (FX) market on Monday, buoyed by a decline in the demand for FX.

There was a public holiday yesterday in Nigeria, which continues today to mark the end of Ramadan, a 30-day fast observed by Muslims across the globe.

The holiday ease the pressure on the local currency on Monday as most of the forex hawkers were at home for the Eid al-Fitr.

Business Post reports that the Naira gained N5 against the United States Dollar during the trading session to close at N1,550/$1 compared with the preceding session’s value of N1,555/$1.

This newspaper gathered that a few FX traders out for business yesterday did not have much to do because of the holiday declared by the federal government.

“It was a quiet day for us today (Monday. We did not see many customers to buy Dollars from us. It is the usual occurrence when there is a public holiday. We hope things will return to normal from Wednesday,” a forex trader, Mr Abubakar Ahmed, who spoke with Business Post, said.

The official market, known as the Nigerian Autonomous Foreign Exchange Market (NAFEM), did not open for business because of the Eid al-Fitr celebration.

It last opened its doors for business last Friday, when it gained 65 Kobo or 0.04 per cent against the greenback to quote at N1,538.26/$1, in contrast to Thursday’s exchange rate of N1,538.91/$1.

The appreciation happened as the Central Bank of Nigeria (CBN) boosted forex liquidity to stabilize the market with about $1 billion last month.

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