Seplat Able to Withstand Low Oil Prices

By Adedapo Adesanya The trio of Newrest Asl Plc, FrieslandCampina Wamco Nigeria Plc, and Acorn Petroleum Plc made the NASD Over-the-Counter (OTC) Securities Exchange appreciate by 0.14 per cent on Friday, December 1. The three gainers pressed down the 8 Kobo loss reported by UBN Property Plc, which closed the trading session at N1.52 per unit compared with the preceding day’s value of N1.60 per unit. During the trading day, Newrest Plc gained N1.46 to close at N16.10 per share compared with Thursday’s closing price of N14.64 per share, FrieslandCampina Wamco Plc moved up by 60 Kobo to end the

By Modupe Gbadeyanka Business owners in Lagos have been assured of more incentives by the state governor, Mr Babajide Sanwo-Olu, who added that this is part of his administration’s commitment to reforms aimed at improving the ease of doing business and enhancing investment opportunities. Speaking at the commissioning of the newly-built wet hair production factory of Godrej Nigeria Limited, the Governor said his government would continue to pursue actions that would eliminate red tapes and regulatory impediments hindering the growth of businesses in the state, thereby demonstrating his willingness for continued collaboration with the private sector to improve the livelihood

By Adedapo Adesanya Equinor and Chappal Energies have entered into an agreement for the sale of Equinor Nigeria Energy Company (ENEC), which holds a 53.85 per cent ownership in oil and gas lease OML 128, including the unitized 20.21 per cent stake in the Agbami oil field, operated by Chevron. Speaking on the deal, Equinor’s senior vice president for Africa Operations, Ms Nina Koch, said Nigeria has been an important part of Equinor’s international portfolio over the past 30 years, noting that, “This transaction realizes value and is in line with Equinor’s strategy to optimize its international oil and gas

When you think of sports in Nigeria, the first thought that comes to mind is probably football. Jay-Jay Okocha, John Obi Mikel, and Obafemi Martins are just some of the most famous footballers that have worn the Super Eagles jersey, but Nigeria is not only about football. Nigerians are crazy about sports, and they love to watch sporting events just as much as they want to participate in them. In fact, doing outdoor sports is the favorite pastime activity for the majority of Nigerians, but another hobby has been gaining popularity in the 21st century as well – sports betting.

By Adedapo Adesanya Some oil market analysts have projected that the price of crude oil is not expected to reach $90 per barrel this year due to factors such as a lower possibility of deeper supply cuts by the Organisation of the Petroleum Exporting Countries and its allies (OPEC+) and China’s record-high crude oil stocks. Brent crude, which serves as Nigeria’s crude benchmark oil, has experienced more than a 5 per cent increase in the past month. This has been attributed to additional output reductions by OPEC+ members and concerns about aggressive interest rate hikes by central banks being eased

By Modupe Gbadeyanka Some outstanding customers and members of staff of Unity Bank Plc would be rewarded by the company as part of activities lined up for the week-long Customer Service Week. “We celebrate our frontline teams for strongly and meaningfully reinforcing service excellence and on this score, our bank does not take for granted your choice to bank with us as we understand that choosing us is because of our shared values, commitment to excellence and exceptional service to you at all times. “As we look to the future, we pledge to remain customer-centric, embracing innovation to serve you

By Investors Hub Asian stocks finished broadly higher on Friday, although growth concerns kept Chinese markets under pressure. While easing of U.S.-EU trade tensions supported underlying sentiment, the upside remained limited ahead of U.S. GDP data and the Bank of Japan policy meeting due next week. Chinese stocks closed lower, with the benchmark Shanghai Composite Index ending down 8.63 points or 0.3 percent at 2,873.59. Meanwhile, Hong Kong’s Hang Seng Index inched up 23.14 points or 0.1 percent to 28,804.28. Japanese shares closed higher even as underlying sentiment remained cautious on speculation that the Bank of Japan might signal plans

By Adedapo Adesanya Oil prices dipped further on Thursday to their lowest levels before Russia’s February invasion of Ukraine over the possibility of an economic recession later this year that could hit energy demand. Brent crude futures settled down by $2.66 or 2.75 per cent to $94.12 per barrel, and the United States West Texas Intermediate (WTI) crude futures settled downwards by $2.34 or 2.12 per cent to $88.54 a barrel. Crude oil had surged to well over $120 a barrel earlier in the year following the COVID-19 pandemic which coincided with supply disruptions stemming from sanctions on major producer

The 2016 edition of the annual Osun Osogbo Festival received a boost with the participation of Goldberg produced by the Nigerian Breweries Plc. The company said it decided to be part of the festival because of its continuous effort to promote and sustain cultural and traditional values and institutions. The Goldberg brand team graced the Corporate Forum, put together by the organizers of the festival, to express its support for the annual event on Thursday, August 4, 2016. The programme was organized in Osogbo. Tayo Adelaja, Public Affairs Manager, West and Mid-West, Nigerian Breweries Plc, said the company was committed

By Sodeinde Temidayo David Transactions at the Investors and Exporters (I&E) window of the foreign exchange (forex) market last week depreciated by 6.5 per cent or $55.2 million to $795.95 million (approximately $796 million) from the previous week’s $851.1 million. The data harvested from FMDQ Securities Exchange, which tracks transactions on the Nigerian Autonomous Foreign Exchange Rate Fixing (NAFEX), indicated that the FX market segment was relatively quiet in the week. The forex market in Nigeria has been undergoing a tough period because of a liquidity crisis, though it seems to be moderating in the past few days, especially due

By Dipo Olowookere FCMB Group Plc has announced the retirement of Dr Jonathan Long from the board of the company following several years of meritorious service. The financial group made this known in a statement issued today after the board accepted his retirement through a written resolution dated April 11, 2018. Dr Long was appointed Chairman of FCMB Group Plc in 2013, but retired from the position on Thursday, March 8, 2018, according to the statement. In the statement signed by the Company Secretary, Mrs Olufunmilayo Adedibu, FCMB said it has appointed Mr Oladipupo Jadesimi to succeed Dr Long as