Unlisted Securities Market Points South Despite Rise in Activity Level

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 federal government has set plans in motion to raise $200 million from philanthropic individuals and organisations as part of efforts to create jobs and support Micro, Small, and Medium Enterprises (MSMEs) in Nigeria. Nigeria is home to over 36.9 million MSMEs, comprising 96.7 per cent of all businesses in Nigeria. According to data, 67 per cent of these businesses are youth-owned. MSMEs contribute over 45 per cent to the country’s gross domestic product (GDP), with 98.8 per cent of them in the micro cadre. They account for nearly 90 per cent of the jobs in the

By Adedapo Adesanya The Naira appreciated against the US Dollar in the Nigerian Autonomous Foreign Exchange Market (NAFEM) on Friday, November 27 as expectations of renewed confidence that the Central Bank of Nigeria (CBN) would offer stability to the market. Before the market closed, there were indications that the CBN Governor, Mr Olayemi Cardoso, would share his plans for the Nigerian economy at a dinner for bankers in Lagos and this boosted a fresh hope, considering he had not offered a direction prior then. In the official market, the domestic currency gained N161.44 or 16.9 per cent against the Dollar

By Modupe Gbadeyanka Estranged husband of Nigerian actress, Mercy Aigbe, Mr Lanre Gentry, has been released from prison after he met his bail conditions. Last Tuesday, Mrs Aje-Afunwa Ogba of the Ikeja Magistrate court had granted bail to the businessman in the sum of N500,000 with two sureties in the like sum. This was after he was charged with assault and domestic violence. He was accused of hitting his wife and causing her bodily harm. Mr Gentry would have been released on Monday, but for the Lagos Magistrates conference that took place same day, which made it impossible for the

By Adedapo Adesanya Data from the Central Bank of Nigeria (CBN) has revealed that the currency in circulation (CIC) reached a year high of N2.5 trillion in May 2023, a 56 per cent jump from N1.6 trillion in March when a policy on new Naira notes was reversed. The CIC comprises the currency outside the banking system and the vault cash of banks. The total money supply in the country, however, fell slightly for the first time since July 2022 to N55.5 trillion, a slight difference compared to N55.6 trillion in April 2023. Meanwhile, currency outside banks also rose to

By Nneka Okumazie Turkey wants to dominate. The country is wary of internal and external enemies. The country is linked with so many complex situations, and had, in recent years, faced economic squeeze. The government seems overwhelmed. There seems to be few answers from the knowledge sector of the society. Turkey needs great ideas to succeed and thrive. And those ideas are likely to come from within, in a structure that is different from what is currently obtainable. The nation is looking to self-sustain. They’re also looking to be – thoroughly – less reliant. Before the COVID-19 pandemic, the government

By Dipo Olowookere For the fourth consecutive day, the Nigerian Stock Exchange (NSE) closed on Thursday on a sad note as investors continue to react to the mixed half year earnings of companies listed on the stock exchange. At the close of transactions yesterday, the market depreciated by 0.19 percent, dragging the Year-to-Date (YtD) gains further down to -5.26 percent. The benchmark index, All-Share Index (ASI), lost 67.16 points to close at 36,232.66 points, while the market capitalisation decreased by N21 billion to finish at N13.228 trillion. However, the market recorded improved activities as the total volume and value of

By Modupe Gbadeyanka A vital step has been taken to improve cattle health management in the dairy sector in Kano State and enhance the milk production level in the state. Recently, the dairy business of Olam Food Ingredients, Outspan Nigeria Limited, partnered with some stakeholders in the sector like the Kano Dairy and Livestock Husbandry Cooperative Union (KADALCU) with over 70,000 smallholder dairy farmers to vaccinate 1,500 dairy cattle against foot and mouth disease in Dawakin Tofa local government area of Kano State. Considering the deadly nature of the foot and mouth disease and its economic implication on dairy farmers

By Kenneth Horsfall To begin with, what is storytelling generally? According to wikipedia.org, storytelling is the social and cultural activity of sharing stories, sometimes with improvisation, theatrics or embellishment. Every culture has its own stories or narratives, which are shared as a means of entertainment, education, cultural preservation or instilling moral values. Crucial elements of stories and storytelling include plot, characters and narrative point of view. The term “storytelling” can refer specifically to oral storytelling but also broadly to techniques used in other media to unfold or disclose the narrative of a story. Storytelling is one of the oldest yet most powerful communication tools we have as humans. Stories help us to share,

By Modupe Gbadeyanka Minister of Finance, Mrs Kemi Adeosun, has assured Nigerians that they would soon begin to see the economy gain shape due to be steps mapped out for this. Mrs Adeosun said it won’t be long for the country to get out of recession. According to the Minister, “We have a strategic plan that will take us out of the recession we have found ourselves in; we want to make sure the recession is as short as possible because we do not want a prolonged recession. “From what we are looking at we do not think that it

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