Unlisted Securities Exchange Records 0.51% Loss in Week 5

By Modupe Gbadeyanka Strong inflationary pressures in November further negatively impacted companies in Nigeria, with new orders and output both falling as customers were either reluctant or unable to pay higher charges. Purchase prices rose at the fastest pace in almost two years amid exchange rate weakness and higher costs for fuel and materials. According to the latest Purchasing Managers’ Index (PMI) from Stanbic IBTC, business conditions remained under pressure, scoring 48.0 points last month compared with the 49.1 points it garnered in October 2023. Readings above 50.0 signal an improvement in business conditions, while readings below 50.0 show deterioration.

By Adedapo Adesanya The Naira appreciated against the US Dollar in the Nigeria Autonomous Foreign Exchange Market (NAFEM) and the unregulated Peer-to-Peer (P2P) and the parallel market segments of the foreign exchange (FX) market on Wednesday, November 29 as President Bola Tinubu reiterated his administration’s promise to meet its obligations. Speaking during the presentation of his administration’s N27.50 trillion 2024 budget proposal to the joint session of the 10th National Assembly on Wednesday, Mr Tinubu said, “Despite the challenges, we continue to meet our obligations.” In the official NAFEM segment of the market, the value of the local currency went

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 Kester Kenn Klomegah Leaders of integrated associations and politicians, mostly from the Eastern region of Nigeria, are calling for a thorough constitutional review that will incorporate the diverse ethno-political interests and also offer equal representation in the Federal Government of Nigeria (FGN). Several archival reports made available and separate interviews conducted by IDN vividly show rising tensions and the lack of strategic foresight in the current approach towards national integration before 2023, the end of President Muhammadu Buhari’s administration. Nigeria became a formally independent federation on October 1, 1960. It, however, experienced a civil war from 1967 to 1970.

By Esther Adeniji One aspect of branding that many SMEs in Nigeria often overlook is the internal appearance of their office. Your business needs to be conducted in a conducive environment. A conducive office environment has the necessary equipment put in place for the day to day business operations. There is essential office equipment in your office as a Nigerian business owner. If you plan on opening a new office for your startup in Nigeria, you can check out these 10 essential office equipment. 10 essential office equipment you should have in your office Photocopiers When it comes to keeping

By Dipo Olowookere Reality TV star, Mr Tobi Bakre, has been appointed as the brand ambassador for a lottery platform in Nigeria, Landlotto. He was chosen to use his influence to promote the brand and make it very popular among Nigerians, who are exposed to many lotto brands. Tobi Bakre shot into prominence when he featured in season 3 of the Big Brother Nigeria show and made it to the final. He later delved into acting and also became an influencer. Over the years, he has garnered a huge following on social media. This is one of the things that

By Dipo Olowookere On March 16 and 17, 2020, stakeholders in the commodities market from within and outside Nigeria will gather at Transcorp Hilton Hotel, Abuja to brainstorm in issues in the space. The event is being hosted by the Securities and Exchange Commission (SEC) and it is to further deepen the capital market and have a vibrant commodities exchange. The international conference on the Nigeria Commodities Market is themed Commodities Trading Ecosystem: Key to Diversifying Nigeria’s Economy and would be graced by President Muhammadu Buhari. According to acting Director General of SEC, Ms Mary Uduk, will bring together relevant

By Dipo Olowookere The Nigerian Communications Commission (NCC) has finally sold 9mobile, formerly Etisalat Nigeria, to Teleology Holdings Limited. As a result, Teleology has announced the constitution of a new Board of Directors for the nation’s multi-award-winning telecommunication company, 9mobile. This followed the successful completion of the tenure of the former board appointed by the Central Bank of Nigeria (CBN) and in fulfilment of the consequential transfer of final ownership to the new investors, Teleology Nigeria Limited. In a statement made available to Business Post on Monday, Teleology thanked “all out-going members of the board for helping to shepherd 9mobile

By Dipo Olowookere There was an early morning fire at a petrol station in Ogba, Lagos on Tuesday, destroying some properties on the premises. It was gathered that the unfortunate incident happened at the Yerevan Oil located on Ajayi Road, Ogba and from the information gathered, a petrol tanker and a few fuel dispensers were burnt by the inferno. However, the situation has been brought under control, according to the Head of Public Affairs of the Lagos State Emergency Management Agency (LASEMA), Mr Nosa Okunbor. It was learned that officials of the LASEMA response team and the Lagos State Fire

Here’s how we’ve made Search more helpful over 25 years — and had a little fun along the way, too. When Google first launched 25 years ago, it was far from the first search engine. But quickly, Google Search became known for our ability to help connect people to the exact information they were looking for, faster than they ever thought possible. Over the years, we’ve continued to innovate and make Google Search better every day. From creating entirely new ways to search, to helping millions of businesses connect with customers through search listings and ads (starting with a local

By Uzoma Dozie Thanks to changing lifestyles and the ubiquity of mobile phones, the number of people across Nigeria using mobile banking is rising exponentially. This is creating the opportunity to turn my vision of a cardless Nigeria into a reality. By 2020 there will be 200 million smartphone connections in Africa (Guardian). In Nigeria, there are more mobile phone lines than adults, 16 smartphones are sold every minute and 24% of people already have access to mobile broadband (GSMA). Mobile technology, mobile payments, and therefore cardless payments are already becoming a way of life for millions of people. Digital