Economy
Stakeholders Prepare for Future Energy Nigeria Confab
By Dipo Olowookere
Dates have been fixed for the 15th edition of Future Energy Nigeria taking place at Eko Hotel and Suites, Lagos from November 13-14, 2018.
A statement issued by the organisers said an addition to the event is the Generation Knowledge Hub aimed at assisting the local power producers and large power consumers to address the country’s insufficient generation capacity. Participants will receive a certificate of attendance.
“Nigeria’s energy potential and its challenges are well known and reported on,” says Future Energy Nigeria event director Chanelle Hingston. She adds, “The country is endowed with large oil, gas, hydro and solar resources, and it has the potential to generate 12,522 megawatts (MW) of electric power from existing plants. However, most days only about 4,000 MW is generated and 20 million households are still without power while the current rural access rate is 36%.”
Miss Hingston continues, “We have sourced inspiring success stories and case studies from the industry to look at how companies themselves can install capacity, specifically for the rural communities off-grid and through renewables. During the Future Energy Nigeria Generation Knowledge Hub, speakers will focus on off-grid projects which can avoid lengthy approvals and complex funding models. We also focus on accelerating rural access through renewable energy.”
The second day of the Generation Knowledge Hub will look at the advancing Gas-to-Power projects and analysing how Nigeria perceives thermal generation. The burning question whether Gas-to-Power can complement renewables will also be discussed.
The Future Energy Nigeria director continues, “The afternoon of the second day of the Generation Knowledge Hub is specifically for the industrial and large power user audience. The programme will offer solutions for how users can reduce their energy bills, whilst securing energy security by making efficiency savings and an A-Z of installing solar power.”
“Nigeria is having success stories in the deployment of mini and micro solutions and most SEPAN’s institutional members have been part of it. Nigeria’s Rural Electrification Agency (REA) is also re-inventing itself with the focus on the promotion of off-grid, mini-grid renewable energy solutions working with the private sectors investors to achieve fast rural electrification.” – Dr Magnus C. Onuoha, National President at the Sustainable Energy Practitioners Association of Nigeria (SEPAN)
“Developing a hybrid DC/AC networked smart micro grid or mini grid interconnected with each other and with district or national grid infrastructure is undoubtedly the best solution for Nigeria and Africa, i.e. enable large scale renewable energy generation at lowest possible system cost with highest maximum efficiency. It means solar and renewable energy are both affordable and easy to access. For the people who need it most,” said Professor Xiongwei Liu, Entrust Microgrid of the Lancaster Environment Centre in the UK.
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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