Malami Advises Nigeria on Best Ways to Sell National Assets

By Modupe Gbadeyanka To achieve sustainable development in Africa, efforts must be made to have an enabling policy environment and collaboration between the government and the private sector. This was the submission of the chief executive of Airtel Africa, Mr Segun Ogunsanya, at a COP28 side event co-hosted by the telecommunications giant and the African Business Leaders Coalition (ABLC). Mr Ogunsanya, who is a member of the United Nations Global Compact’s ABLC, stressed that African business leaders and governments to join forces to advance sustainable growth, development, and prosperity across the continent. “We stress the importance of an enabling policy

By Adedapo Adesanya The Nigeria Upstream Petroleum Regulatory Commission (NUPRC) has unveiled the regulatory framework for energy transition, decarbonisation, and carbon monetization for upstream operations in Nigeria. The Commission Chief Executive, Mr Gbenga Komolafe, unveiled the regulatory framework at COP28 in Dubai, the United Arab Emirates (UAE) themed Driving Sustainable Upstream Operations to Achieve Just and Equitable Energy Transition.  Mr Komolafe noted that the regulatory framework has Natural Gas shift, zero routine gas flaring and methane abatement, carbon market development, and upstream operations efficiency as its key pillars. Others include technology and innovation, incentive mechanisms, collaboration, and risk management. According

By Bliss Okperan The Nasarawa State House of Assembly has announced its election of Danladi Jatau, representing Kokona West Constituency, as the new Speaker. The state parliament also disclosed on Friday that it now has a new Deputy Speaker, who is Mohammed Oyanki, the lawmaker representing Doma North Constituency. The election of the two principal officers of the legislative arm of the state followed the sacking of its former Speaker, Mr Ibrahim Abdullahi, by the Appeal Court sitting in Abuja on Tuesday. While the new Speaker is a member of the All Progressives Congress (APC), his deputy is a member

By Adedapo Adesanya The federal government has announced that only 422 of the total 1,411 Nigerian delegates at the ongoing COP28 were funded with taxpayers’ money. This clarification followed the outrage over the size of Nigeria at the conference in Dubai, the United Arab Emirates (UAE). The Minister of Information, Mr Mohammed Idris, disclosed this in a statement on Monday evening amidst concerns by Nigerians about the large number of the country’s delegates at the climate change conference in Dubai. Business Post had reported that Nigeria was joint third with China behind the UAE and Brazil among all the countries

By Dipo Olowookere Facebook and Today is Safer Internet Day (SID) have launched a series of initiatives to help make the internet a safer and better place for people across Africa, especially children and the youth. Facebook is partnering with public sector agencies and non-governmental organisations from across Africa under the rallying call “Be the change: unite for a better Internet”. “Nothing is more important to us than the safety of the people who use Facebook. Every day people come to Facebook to connect with people and issues they care about, and they should be able to do so in

By Aduragbemi Omiyale The Consul General of France in Lagos, Ms Laurence Monmayrant, has promised that her country would continue to foster economic and investment ties with Nigeria. The diplomat gave this assurance during the closing gong ceremony for the Franco-Nigerian Chamber of Commerce and Industry in her honour in Lagos on Tuesday. Speaking at the event at the Nigerian Exchange (NGX) Limited, she said France was also looking forward to working with the bourse to have more brands listed on its platform in the coming year. Ms Monmayrant stated that the Franco-Nigeria Chamber of Commerce was pleased with the

By Dipo Olowookere Trading activities on the floor of the Nigerian Stock Exchange (NSE) ended on a positive note on Friday with the major market indicators pointing north at the close of business. The market, which went down on Thursday by 0.03 percent on profit taking, reversed the negative trend to finish the day 0.17 percent higher. The All-Share Index (ASI) recorded a growth of 62.44 points to settle at 36,939.59 points, while the market capitalisation increased by N21.6 billion to finish at N12.8 trillion. In addition, the market breadth ended positive with 21 price gainers and 19 price losers,

By Modupe Gbadeyanka Two banks located in Apapa, Diamond Bank and Sterling Bank, were destroyed by fire on Wednesday morning by some angry truck drivers after a mobile policeman allegedly shot dead one of their colleagues. Trouble started when the mobile cop allegedly ordered the deceased driver to move his heavy duty vehicle away from premises of the bank. Eyewitnesses informed Business Post correspondent that while the driver was allegedly obeying the order reluctantly, an argument ensued, which led to the cop shooting him dead. The incident attracted other truck drivers, who mobilised and arrived scene of the shooting in

By Kenneth Horsfall I tell you this with a great fact Nigerians are peculiar people, Nigerians are not like every African, they are a very different breed of people. They think differently, not like every African. So, today I am going to be teaching you how to really understand the psychology of marketing when dealing with Nigerians so you can take advantage of it and sell anything to a Nigerian and he or she will buy. To begin our class, let’s define what Marketing Psychology is. What Is Marketing Psychology Marketing psychology attempts to understand the way that consumers think, feel,

By Dipo Olowookere The revenue generated by Dangote Cement Plc in the first six months of this year depreciated by 3.05 percent, details of the company’s financial statements for the period ended June 30, 2019 have revealed. In the results briefly analysed by Business Post, the cement manufacturer generated the sum of N467.7 billion in the period under consideration compared with the N482.4 billion raked in the same period of last year. This impacted on the gross profit posted by the market leader in the cement industry, which stood at N274.6 billion in H1 2019 against N284.8 billion in H1

By Adedapo Adesanya  Seplat Energy Plc has disclosed that it remains committed to purchasing ExxonMobil’s Nigerian assets, with its sight set on completing the deal that the administration of former President Muhammadu Buhari halted. The oil company hopes President Bola Tinubu, sworn in a month ago, will adopt a different approach than his predecessor, Mr Buhari, who reversed an initial decision to approve the transaction. “We’re still interested in the assets,” Seplat Chief Executive Officer Roger Brown said in an interview at the firm’s UK offices. “We still like the company we’re buying. We think it’s a game-changing operation.” Under

By Adedapo Adesanya The Nigerian National Petroleum Corporation (NNPC) has revealed that the Federal Government will auction small oil fields this year to raise funds in the midst of the crisis facing the oil market in terms of price and demand. The Group Managing Director of the NNPC, Mr Mele Kyari, noted that the country has not conducted any licensing round since 2007. Mr Kyari, who further said  a marginal fields round was last held in 2003, stated that government would not be able to conduct any major licensing round as the current market realities tend to dampen foreign investors’