Saudi Additional Cut Lifts Brent, WTI Crude Prices

By Adedapo Adesanya The Naira appreciated against the US Dollar in the Peer-2-Peer (P2P) wing of the foreign exchange market on Monday, October 2, as the official market, the Investors and Exporters (I&E) window closed for the Independence Day holiday. In the P2P segment, the Nigerian Naira appreciated against the American currency by N3 to sell at N998/$1 compared with the preceding session’s value of N1,001/$1. In the same vein, the local currency improved its value against the US Dollar on Tuesday by N1 to sell at N1001/$1 versus the previous session’s exchange rate of N1002/$1. During the Independence Day

By Aduragbemi Omiyale The management of BUA Cement Plc has announced a reduction in the prices of its cement from its factory without the transportation costs to N3,500 per bag (50kg). The cement maker confirmed this development in a statement issued on Sunday, noting that it was part of efforts to make sure customers get the products at cheaper prices. In the statement, BUA Cement disclosed that the slash in cement prices is from Monday, October 2, 2023, urging its distributors not to fleet the end users. The firm said, “All pending, undelivered orders which had been paid for at

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

By Adedapo Adesanya The Chairman of the Presidential Fiscal Policy and Tax Reforms Committee, Mr Taiwo Oyedele, has cleared the air regarding recent reports on the transfer of funds to the Joint Tax Board (JTB) by the Federal Inland Revenue Service (FIRS) under the erstwhile chairman, Mr Muhammad Nami, for the tax reform committee. In a statement on Friday, he revealed that N5 billion was paid to the board to fund activities of the team set up by President Bola Tinubu, noting that “The committee’s budget includes provisions for a national Data for Tax project which the JTB had been

By Modupe Gbadeyanka A deal worth N232 million has been signed by Biase Plantations Limited (BPL) and Heritage Bank to boost oil palm production in Nigeria. The agreement was sealed on Friday in Lagos by both organisations in the presence of their top management staff. Managing Director of Heritage Bank, Mr Ifie Sekibo, explained that the deal was signed as part of efforts to support government’s diversification agenda. He said the out-growers agreement would reposition the country as the highest oil palm producer in the world. “We are on a quest to restoring a lost glory in Nigeria and today

By Dipo Olowookere Governor Abdulfatah Ahmed of Kwara State has lifted the ban earlier placed on union activities at the College of Education in Oro last December. Mr Ahmed announced lifting of the ban on Monday at a meeting with leadership of the institution’s staff unions including College of Education Academic Staff Union (COEASU) Non Academic Staff Union (NASU) and Senior Staff Union of Colleges of Education in Nigeria (SSUCOEN), led by the state Chairman of Nigeria Labour Congress (NLC) Comrade Yekeen Agunbiade. The meeting was also attended by Chief of Staff, Government House, Mr Yusuf Baba Wahab and Special

By Modupe Gbadeyanka The administration of Governor Abdulfatah Ahmed of Kwara State has released details of its federal allocation figures for the month of August 2017. Commissioner for Finance in the state, Mr Demola Banu, in a statement issued on Tuesday evening, disclosed that the state government received N2.54 billion as allocation for month of August in contrast to N3.7 billion received last month. Mr Banu further disclosed that the sum was made up of a statutory allocation of N1.8 billion and Value Added Tax (VAT) of N762 million. The Commissioner also announced that the 16 local governments (LGs) in

By Adedapo Adesanya Nigeria’s consumer price index (CPI), which measures inflation, increased by 15.70 per cent year-on-year for the month of February, according to the National Bureau of Statistics, which disclosed this in its CPI and Inflation Report on Tuesday. The report stated that “this is 1.63 per cent points lower compared to the rate recorded in February 2021 (17.33) per cent,” indicative that the headline inflation rate slowed down in February when compared to the same month in the previous year, but higher than the 15.60 per cent reported in the preceding month. Also detailed in the report were

By Olukayode Kolawole Starting a business in Nigeria, like many other countries, usually comes with many road bumps. It is not just enough to have a brilliant idea that can be built into a mega business; more is required than just a good thought process. More often than not, entrepreneurs would always believe that raising enough capital to run a business is the most important factor. After all, we all at a time attended that Economics class where we were taught that money is the most important element to drive a business to success. At Jumia Travel, we believe there

By Dipo Olowookere A provider of imaging technologies and services, Canon Central and North Africa (CCNA), will be hosting a fundraising event on September 28, 2018 in Dubai, United Arab Emirates (UAE), in partnership with Dubai Cares. The Canon Day of Giving fundraising event will be hosted as a fun and entertaining carnival with the goal of raising AED 250,000 to support two educational programmes, one in Africa and a second in the Middle East. Managing Director of Canon Central and North Africa, Mr Roman Troedhandl, stated that, “Access to education in Africa has many challenges, and today sub-Saharan Africa

By Modupe Gbadeyanka The sum of $100,000 has been donated to Slum2School Africa by Prudential Zenith Life Insurance to help combat the impact of the COVID-19 pandemic on education in disadvantaged communities in Nigeria. It was gathered that the gesture came through a Corporate Social Responsibility (CSR) Fund from the Prudence Foundation, the community investment arm of Prudential Plc in Asia and Africa. Slum2School Africa is a leading volunteer-driven developmental organisation, transforming society by empowering underprivileged children in slums and remote communities with quality education, entrepreneurial skills and psychosocial support to enable them to realise their full potential and become

Music is the universal language of love, and in this month of Valentine’s, it’s definitely setting the scene for romance. The relationship between music and love is profound – music has the ability to touch us emotionally, and those who are in love have always expressed their feelings for one another through the lyrics of a song, or a melody when words alone will not suffice. On Valentine’s Day, love is truly all around, inspiring people to take thoughtful actions, like sending gifts, setting up cosy candle-lit dinners, proposing marriage or renewing their relationship vows. One of the most vital