Weak Investor Sentiment as Nigerian Exchange Drops 0.06%

By Adedapo Adesanya The Nigeria Extractive Industries Transparency Initiative (NEITI) has disclosed that Nigeria saw a 65.7 per cent or N76.77 billion increase in earnings from the solid minerals sector in 2021 to N193.59 billion from the N116.82 billion achieved in 2020. This upward trajectory has been on for the past five years, according to a report from the agency. The Executive Secretary of NEITI, Mr Orji Ogbonnaya Orji, however, lamented that this is still abysmal considering the potential of the sector to the Nigerian economy. He said this while presenting the solid minerals sector report in Abuja, noting that

By Adedapo Adesanya Nigeria’s Minister of Finance, Mr Wale Edun, has said the country is unable to clear up to $6.8 billion of overdue forward payments in the foreign exchange market, noting that this is preventing the Naira from gaining stability. Speaking in an interview on Thursday, Mr Edun lamented that the country’s FX market is facing a serious liquidity crisis due to low flows. “The issue we have now is that the market is not liquid enough,” he said in an interview in New York, per Bloomberg. The Minister said that resolving the overdue contracts would allow the Naira

By Adedapo Adesanya The NASD Over-the-Counter (OTC) Securities Exchange suspended trading in the shares of VFD Group Plc months after the proprietary investment company revealed its intention to list its stocks on the Nigerian Exchange (NGX) Limited to allow it gain access to public equity markets, increase its visibility, and strengthen its financial position. The group joined the NASD trading platform in 2020. In a notice, the NASD OTC Exchange said investors would not be able to trade securities of VFD Group Plc with effect from Friday, September 22, 2023 (today). This is per the company’s request to delist from

By Hyther Nizam The vast majority of people associate capital with financial wealth. When economists discuss capital, they refer to the assets that enable improved productivity, which should lead to a higher standard of living. However, when corporate capital is defined purely in terms of monetary wealth, market capitalisation or sales, it invalidates other larger, longer-term goals and they tend to be ignored, or are eliminated. While numbers are significant, they are not the most important component of capital for a company’s long-term survival. The real concept of capital encompasses far more than just a financial metric. Apart from financial

By Dipo Olowookere A multi-million Naira ultra-modern 2-bedroom apartment has been donated to victims of a devastating inferno. The flat was built by leading telecommunications services provider, Airtel Nigeria, and given to the Aina family in fulfilment of firm’s pledge to the beneficiary in the just-concluded Airtel Touching Lives Season 3. Chief Executive Officer and Managing Director of Airtel Nigeria, Mr Segun Ogunsanya, on Wednesday, led a team of Airtel executives comprising the Director of Corporate Communications & CSR, Mr Emeka Oparah, to commission and hand-over the well-finished apartment to the Aina family in Magboro, Ogun State. The Aina family

By Dipo Olowookere As the nation await the release of inflation rate data for the month of December 2017 next week by the Nigerian Bureau of Statistics (NBS), analysts at FSDH Research have predicted a further drop in the rate. According to its latest report posted on its website, FSDH Research team said inflation would moderate further to 15.85 percent from 15.90 percent achieved in November 2017. FSDH explained that the expected decrease in the inflation rate would be driven by the base effect and would be the 11th consecutive month of decrease in the inflation rate in 2017. Based

UNHCR, the UN Refugee Agency, is becoming increasingly troubled by ongoing violence in Niger’s border areas with Mali and Burkina Faso, which has forced 52,000 Nigeriens to flee their homes this year alone. Cross-border incursions and attacks by militant groups in Niger’s Tillaberi and Tahoua border regions have forced many to flee for safety to other nearby towns and villages. Those displaced report fleeing horrific violence. Armed groups are said to be attacking villages, killing and abducting civilians, including community leaders, burning schools and looting homes, businesses and livestock. While a government declared state of emergency continues to take effect

Customers in this age of technology advancement are dynamic and spoiled for choice, as numerous brands jostle for their attention and patronage. To command wallet share and improve retention for brand loyalty, it is important that product manufacturers and handlers are consumer-driven, understand customer dynamics and reach them with the right product, in the right place and at the right time. In recent years, e-commerce and its accompanying delivery service apparatus have sparked a fast-growing sales trend and real-time last-mile delivery in Nigeria. To maintain relevance, small and big brands are utilizing available e-commerce platforms and logistics services to meet

By Adedapo Adesanya The United States Government has disclosed that it would give out $6.4 billion over five years to states to fund projects to reduce greenhouse gas emissions. According to the Transportation Department on Thursday, the funding is part of a $1 trillion infrastructure bill approved by Congress last November. It will help states fund trail facilities for pedestrians and bicyclists and projects that support the deployment of alternative fuel vehicles. Speaking, Transportation Secretary, Mr Pete Buttigieg said, “Transportation is the sector that contributes the most carbon emissions in the U.S. economy, which means that transportation must aspire to

By Dipo Olowookere The government of Bayelsa State has announced Monday, July 1 to Wednesday, July 3, 2019 as prayer and fasting days in the state. A statement issued by Special Adviser to Governor Seriake Dickson on Religious Matters, Pastor Samuel John-Peters, disclosed that the purpose of the fast is to seek direction and guidance from God in the choice of who will take over the mantle of leadership after his eight-year tenure as Governor later this year. The Independent National Electoral Commission (INEC) has fixed Saturday, November 16, 2019, for governorship election in Bayelsa and Kogi States. For a

**As Dangote Donates 150 Vehicles to Police By Dipo Olowookere Chairman of Dangote Group as well as the Aliko Dangote Foundation, Mr Aliko Dangote, has been applauded by Federal Government for doing much to grow the nation’s economy and provide jobs for youths of this country. Vice-President, Prof. Yemi Osinbajo, while speaking in Abuja yesterday at handing over of 150 fully kitted operational cars worth several hundreds of Naira to the Nigeria Police Force, urged other entrepreneurs in the country to emulate the Africa’s richest man. Mr Osinbajo lauded the Dangote Foundation for the rare gesture and expressed the Federal