Suppliers Lament High Cost of Petrol, Gas Distribution

By Aduragbemi Omiyale The sum of N75 million has been disbursed to 15 small and medium-sized businesses (SMBs) in Nigeria to support their expansion drive. The funding package was given by Google’s Hustle Academy, with beneficiaries drawn from various industries, including agriculture, and fashion, among others. The 15 Nigerian small business owners were among the 5,300 entrepreneurs who graduated from the academy, designed by the tech giant to provide an avenue for participants to enhance their business skills and knowledge, and contribute to the growth of the continent’s economy. The recipients of the funding support are Ifeoma Augusta Anselem of

By Adedapo Adesanya  Oil prices fell on Friday as the release of some hostages in Gaza reduced the geopolitical risk premium and indicated that the Israel-Hamas tensions may not have much effect on the oil market. Brent crude futures depreciated by 84 cents or 1 per cent at $80.58 a barrel, while the US West Texas Intermediate (WTI) crude dropped $1.56 or 2 per cent to close at $75.54. There was no settlement for WTI on Thursday owing to the US Thanksgiving holiday. Prices notched their first week of gains in over a month ahead of next week’s meeting of

By Adedapo Adesanya The NASD Over-the-Counter (OTC) Securities Exchange recorded yet another positive week-on-week performance after stretching its gains by 1.44 per cent in Week 47. This expanded the portfolios of NASD investors by N17 billion in the week to N1.162 trillion from the N1.145 trillion recorded in Week 46, as the NASD Unlisted Security Index (NSI) increased by 12.16 points to 857.29 points from 845.13 points in the previous week. The trading week was with three price gainers and three losers, with Aradel Holdings Plc on top of the advancers’ chart after it grew by 10 per cent to finish

By Modupe Gbadeyanka The Nigerian National Petroleum Company (NNPC) Limited is planning to grow its revenue to N4.5 trillion as it plans to end the importation of premium motor spirit (PMS), otherwise known as petrol, by December 2024. The chief executive of the company, Mr Mele Kyari, while speaking on Thursday, said the nation would not need to rely on fuel from outside the country because its refineries would have been fully operational. Nigeria is currently revamping its four refineries to make the product available to residents of the country as it officially stopped the payment of subsidy on petrol

By Modupe Gbadeyanka The stock market in Nigeria closed on a downward trend today after it ended on a positive note yesterday. The capital market shed N10 billion at the close of trading activities on Wednesday after it recorded a leap of N11 billion on Tuesday. The Nigerian Stock Exchange (NSE) all-share index lost 29.4 points or 0.11 percent to close at 27,223.08 points, while the market capitalisation finished at N9.35 trillion compared to N9.36 it closed the previous day. Business Post correspondent reports that the volume of shares traded today by investors improved by 15.1 million. A total of

By Modupe Gbadeyanka Trading activities on the floor of the NASD OTC Market ended last week on a disappointing note with the major indices pointing south. It was observed that the NASD USI decreased by 0.9 percent, closing at 660.03 points in contrast to 666.24 points in the previous week. Consequently, the total market capitalization shed 1 percent during the week, closing lower at N446.65 billion against N450.86 billion in the previous session. During the week, Friesland Campina Wamco Nigeria Plc finished well as its stock closed at N140 against N136 it ended earlier. Furthermore, Niger Delta Exploration and Production

By Adedapo Adesanya The Brent crude depreciated on Thursday as investors took profits after a recent price rally spurred by supply disruptions amid stronger demand. The price of the commodity slipped by 11 cents or 0.12 per cent yesterday to $88.33 per barrel, while the West Texas Intermediate (WTI) crude dropped 67 cents or 0.77 per cent to sell at $86.29 per barrel. Supply concerns have mounted this week after a fire temporarily halted flows through an oil pipeline running from Iraq’s Kirkuk to the Turkish port of Ceyhan on Tuesday. Earlier in the week, an attack by Yemen’s Houthis

By Dipo Olowookere An outbreak of Ebola Virus Disease (EVD) has been declared in Likati health district (Aketi, Bas-Uélé province), more than 1300 kilometres from Kinshasa in the northern Democratic Republic of Congo (DR Congor), by the Minister of Public Health, Dr Oly Ilunga Kalenga, following confirmation of the disease by the National Biomedical Research Institute (INRB), the national reference laboratory. Dr Kalenga informed the World Health Organization (WHO) after one of the “five blood specimens taken from suspected cases and analysed at INRB tested positive for Ebola virus (Zaïre serotype) using real-time polymerase chain reaction.” In a letter to

By Dipo Olowookere As part of efforts in achieving a 24-hour power for Lagos, Governor Akinwunmi Ambode has sought a no objection letter from the Nigerian Electricity Regulatory Commission (NERC) for the state’s Embedded Power Programme. Mr Ambode led some members of the State Executive Council, lawmakers and other critical stakeholders to a meeting at the NERC’s headquarters in Abuja on Friday for this purpose. The Government explained that the embedded power project was designed as his administration’s flagship programme for direct intervention in the power value chain. He said the proposed power programme would generate up to 3,000MW of

By Investors Hub The major U.S. index futures are pointing to a higher opening on Thursday, with stocks likely to move back to the upside following the weakness seen in the previous session. The upward momentum on Wall Street comes as President Donald Trump sought to downplay concerns about an attack on Syria. ?Never said when an attack on Syria would take place. Could be very soon or not so soon at all!? Trump said in a post on Twitter. He added, ?In any event, the United States, under my Administration, has done a great job of ridding the region

NPO (Non-Profit Organizations) work towards the betterment of society and single-handedly achieve several noble goals. Depending on the cause they are fighting for, every kind of NPO functions on a different scale. From managing vendor contracts to drafting employment agreements, NPOs have to deal with multiple contracts at once. While most organizations work with charitable causes, some may even set scientific and educational goals. However, a lot of challenges and factors affect the way these organizations function. In turn, this limits their success and ability to function in the most efficient manner. One of the main challenges is drafting, floating,