Economy
S/Sudan President To Speak At Africa Oil & Power 2017

president salva kiir
By Dipo Olowookere
South Sudan President, Mr Salva Kiir Mayardit, will present opening speech on June 5, 2017 in Cape Town, organisers of the event have said.
This followed decision of the crisis-ridden country and Africa Oil & Power to work in partnership on a slew of initiatives to promote foreign direct investment in the East African country.
Mr Mayardit is expected to present a keynote address at the conference, which will also host a special Market Spotlight session on South Sudan to feature Minister of Petroleum, Mr Ezekiel Lol Gatkuoth alongside key industry leadership to discuss developments in the industry.
South Sudan has adopted a strongly pro-business attitude with the hope that expansions in the petroleum sector and heightened exploration activity will stimulate its economy.
Once one of sub-Saharan Africa’s mightiest hydrocarbon economies, South Sudan has seen oil production decline since the country has grappled with civil conflicts with a rebel faction.
South Sudan currently produces 130,000 barrels per day but is capable of daily output of 500,000 barrels.
The Ministry of Petroleum has been undergoing some important negotiations with oil companies to enter the market and has previously considered launching its first licensing round.
The Market Spotlight session on South Sudan will gather the industry’s key participants to discuss developments in the sector, including exploration activity, production outlooks, energy security, corporate finance, downstream and export infrastructure. Africa Oil & Power will produce a range of resources for the South Sudanese government to promote its activities.
“We are truly honored that the Government of South Sudan has agreed to participate in Africa Oil & Power,” said Guillaume Doane, CEO of Africa Oil & Power. “South Sudan has a proud legacy in the petroleum sector and has shown a huge willingness to attract companies to the country and develop its abundance of hydrocarbons. The country recognizes that unlocking those natural resources is vital to fostering economic growth, restoring peace and stability and we hope to be useful in those efforts.”
“South Sudan is truly honored to participate in Africa’s premier energy industry event,” said Ezekiel Lol Gatkuoth, Minister of Petroleum for South Sudan. “Our country strives to restore its rightful place in Africa’s hydrocarbons sector and we see this an opportunity for our head of state H.E. General Salva Kiir Mayardit to outline our vision for the industry and attract investors to South Sudan.”
The participation of the South Sudan government follows the commitment of several high-level government to Africa Oil & Power 2017, including: Patrice Trovoada, Prime Minister of São Tomé and Principe; and Francisco Pascual Obama Asue, Prime Minister of Equatorial Guinea; Gabriel Mbaga Obiang Lima, Minister of Mines and Hydrocarbons of Equatorial Guinea; and Tina Joemat-Pettersson, Minister of Energy for South Africa.
Economy
BNB Price Reflects Changing Dynamics in the Digital Asset Market
Economy
NASD Unlisted Security Index Crosses 4,000-point Benchmark Again
By Adedapo Adesanya
The NASD Over-the-Counter (OTC) Securities Exchange achieved a milestone on Friday, April 24, 2026, after five securities on the platform helped with a 1.85 per cent growth.
Data showed that the NASD Unlisted Security Index (NSI) again crossed the 4,000-point benchmark yesterday.
The index chalked up 73.64 points during the trading day to close at 4,052.59 points compared with the preceding session’s 3,978.95 points, while the market capitalisation added N5.38 billion to finish at N2.424 trillion versus Thursday’s closing value of N2.380 trillion.
The price gainers were led by Okitipupa Plc, which grew by N25.00 to sell at N305.00 per share compared with the previous price of N280.00 per share. Central Securities Clearing System (CSCS) Plc gained N6.92 to close at N76.26 per unit versus N69.34 per unit, Afriland Properties Plc appreciated by N1.00 to N17.00 per share from N18.00 per share, FrieslandCampina Wamco Nigeria Plc improved by 55 Kobo to N99.55 per unit from N99.00 per unit, and Food Concepts Plc increased by 5 Kobo to N2.70 per share from N2.65 per share.
However, there was a price loser, MRS Oil, which dipped by N21.75 to N195.75 per unit from N217.50 per unit.
During the final session of the week, the value of securities jumped 75.2 per cent to N41.3 million from N23.6 million units, and the number of deals expanded by 62.9 per cent to 44 deals from 27 deals, while the volume of securities declined marginally by 0.9 per cent to 447,403 units from 451,522 units.
At the close of trades, Great Nigeria Insurance (GNI) Plc was the most traded stock by volume (year-to-date) with 3.4 billion units worth N8.4 billion, trailed by Resourcery Plc with 1.1 billion units valued at N415.7 million, and Infrastructure Guarantee Credit Plc with 400 million units traded for N1.2 billion.
GNI was also the most active stock by value (year-to-date) with 3.4 billion units sold for N8.4 billion, followed by CSCS Plc with 59.6 million units transacted for N4.0 billion, and Okitipupa Plc with 27.8 million units exchanged for N1.9 billion.
Economy
Naira Slips to N1,358/$1 as FX Reserves, Policy Uncertainty Concerns
By Adedapo Adesanya
It was not a good day for the Nigerian Naira in the currency market on Friday, April 24, as its value depreciated against the major foreign currencies at the close of transactions.
In the Nigerian Autonomous Foreign Exchange Market (NAFEX), it lost N4.53 or 0.33 per cent against the United States Dollar yesterday to trade at N1,358.44/$1, in contrast to the N1,353.91/$1 it was exchanged on Thursday.
Equally, the domestic currency slipped against the Pound Sterling in the official market during the session by N8.14 to close at N1,834.02/£1, compared with the previous rate of N1,825.88/£1 and dropped N8.01 against the Euro to sell at N1,590.73/€1 versus N1,582.72/€1.
Also, the Naira depreciated against the US Dollar at the GTBank FX desk on Friday by N4 to quote at N1,370/$1 compared with the previous session’s N1,366/$1, and at the parallel market, it depleted by N5 to settle at N1,380/$1 versus the preceding day’s N1,375/$1.
Data published by the Central Bank of Nigeria (CBN) indicated that NFEM interbank turnover surged to N43.562 million across 68 deals, up from N28.117 million the previous day.
Despite the CBN’s reassurance that the recent drop in external reserves is not worrisome, the market remains unsettled by persistent concerns over liquidity constraints, policy transparency, and weakening confidence in Nigeria’s FX market as gross reserves continue to decline to $48.4 billion.
The outlook for the Dollar appears supported by broader macro risks, including elevated oil prices tied to the tanker traffic disruptions in the Strait of Hormuz and a continued US-Iran standoff over ceasefire negotiations.
A look at the digital currency market showed that investors are sitting on the edge as the US Dollar rebounded amid geopolitical and inflation risks despite continued inflows into US spot bitcoin Exchange Traded Funds (ETFs).
Solana (SOL) rose by 1.2 per cent to sell $86.45, Cardano (ADA) appreciated by 1.1 per cent to $0.2517, Dogecoin (DOGE) grew by 0.9 per cent to $0.0989, Ripple (XRP) improved by 0.3 per cent to $1.43, Ethereum (ETH) soared by 0.2 per cent to $2,316.83, and Binance Coin (BNB) chalked up 0.1 per cent to sell for $637.44.
However, TRON (TRX) depreciated by 1.3 per cent to $0.3235, and Bitcoin (BTC) lost 0.2 per cent to close at $77,562.27, while the US Dollar Tether (USDT) and the US Dollar Coin (USDC) closed flat at $1.00 each.
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