Stock Traders Lose N14b as Index Fall 1.98% in One Week

By Dipo Olowookere Profit-taking persisted at the Nigerian Exchange (NGX) Limited on Thursday, with Customs Street going down by 0.31 per cent on its return from a midweek break. The market closed its doors to traders on Wednesday due to the public holiday declared by the federal government to mark Eid-el Maulud, the birthday of Prophet Mohammed. Business Post reports that market participants did not take their minds off the pressing issues affecting the Nigerian economy, especially rising inflation, energy costs and the foreign exchange (FX) crisis. As a result, they liquidated their shares, leading to a negative market breadth

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 Aduragbemi Omiyale The Vice President, Mr Kashim Shettima, has said Nigeria is in dire need of foreign direct investment (FDI) more than ever before, tasking domestic and foreign investors to make Nigeria their investment hub because efforts are being made to formulate business-friendly policies. Mr Shettima, while speaking when he hosted the management of First Surat Group, as well as top management of MTN Nigeria at the presidential villa in Abuja, charged MTN Nigeria to facilitate and spearhead digital mobile money and digital education. He assured that President Bola Tinubu was willing to partner with various stakeholders in the

By Kestér Kenn Klomegâh As a rotating chairman of the African Union, the President of Senegal, Mr Macky Sall, has excelled in speaking up on many development priorities for Africa. His complete understanding began during his childhood as he grew up in a family of politicians and ultimately continued pursuing a political career. Without a doubt, he made The Path of Real Development a political slogan during his campaign for the presidency. He campaigned across the country without cutting off ties with the “23 Juin” (M23) opposition movement, rather telling them the importance of achieving development through unity. President Sall was

By Otori Emmanuel What is Skill Gap? The concept of skills gap characterizes the divergence that currently exists in what potential job prospects are required of and what is being offered. Skill Gap Analysis is a method of determining which skills and knowledge gaps exist between the workforce system in Nigeria and its students of higher learning. On a general note, the disparity in skills of a job candidate and what employers demand takes its root from primary through the secondary and higher education system. It is obvious that students are not armed with the skills for real-life experiences but

By Modupe Gbadeyanka The steering committee driving the programme for the West African International Petroleum Exhibition and Conference (WAIPEC) 2017 has officially been announced, representing a cross section of key senior business leaders and stakeholders from across Nigeria’s oil and gas sector. WAIPEC, hosted by the Petroleum Technology Association of Nigeria (PETAN), will take place from February 21-23, 2017 at the Eko Convention Centre, Lagos and will promote Nigerian expertise and key projects throughout West Africa, whilst supporting the development of major new collaborations for the benefit of the region’s petroleum economy. The steering committee representatives will feature:     Ademola

By Dipo Olowookere Three fleet management companies have been enlisted by Ecobank Nigeria to handle its transport services on Pay As You Go basis for its Lagos operations. The partnering companies include Uber, AA Rescue, and Car4U. Under the new arrangement, the bank has concessioned its pool car services and its erstwhile outsourced drivers numbering about 300 are taking possession of the cars as part of its commitment to empower the drivers. The drivers have also been given the option of either joining the fleet management companies or utilizing their newly acquired vehicles as they desire. Relevant training programmes in

By Sodeinde Temidayo David As part of efforts to address the housing shortage in Nigeria, a real estate firm, Stratech Properties Limited, has launched a home ownership scheme in Abuja. The initiative will allow medical professionals, bankers, civil servants, small business owners and others to acquire a home at affordable rates. Stratech, which has the vision to provide one million houses in Nigeria, launched this scheme last week at the 15th Abuja International Housing Show (AIHS). The company, which offers estate management, estate development, estate brokerage, estate agency, estate investment and estate consulting, said efforts would be made to expand

By Modupe Gbadeyanka Minister of Finance, Mrs Kemi Adeosun, has revealed the real cause of Nigeria slumping into recession last year. Mrs Adeosun, who has been working effortlessly to ensure the Nigerian economy was restored to normal, stated on Tuesday that years of not planning enough for the future was majorly the reason the country fell into crisis. During a live Facebook session with Nigerians, the Minister pointed out that for the last 10 years, Nigeria’s economy had really not been too productive. “We got into recession because, for the last 10 years, even when the oil price was extremely

By Adedapo Adesanya The Minister of Mines and Steel Development, Mr Olamilekan Adegbite, has assured that the Ajaokuta Steel Company Limited will commence operations to capacity soon. Mr Adegbite gave this assurance during the News Agency of Nigeria (NAN) Forum in Abuja, stating that efforts are being made to ensure the factory functions before the end of President Muhammadu Buhari’s administration, which is less than two years from now, precisely on May 29, 2023. He said that the federal government had made effort to ensure that the Russian company that built the steel industry would come to Nigeria to conduct

By Modupe Gbadeyanka The UAE once again captivated the world this New Year’s Eve with a dazzling spectacle to usher in 2018. The Emaar’s ‘Light Up 2018’ Downtown Dubai celebration hosted more than a million visitors from across the world and reached an estimated 2.5 billion people worldwide through live television broadcast and social media livestreams. The mesmerising laser, light and musical fountain show not only had a spellbinding effect on spectators, but Emaar’s ‘Light Up 2018’ also clinched the GUINNESS WORLD RECORDS title for the ‘largest light and sound show on a single building,’ staged on Burj Khalifa, the