Nigeria, Others Must Embrace Clean Energy Transition—PwC

By Bliss Okperan A helicopter operated by the Nigerian Air Force (NAF) on Friday crash-landed and exploded at the NAF Base, Port Harcourt, Rivers State. The NAF Director of Public Relations and Information, Air Commodore Edward Gabkwet, confirmed the incident in a statement, noting that the NAF-35p had taken off on an operation against oil thieves in Rivers State before the unfortunate incident. He said five persons on board survived the air mishap with minor injuries. “A Nigerian Air Force (NAF) MI-35P helicopter crashed at Port Harcourt today, December 1, 2023. The unfortunate incident occurred at about 7.45 am shortly

By Adedapo Adesanya Tata International is set to expand operations in Nigeria through a strategic partnership with the Lagos Free Zone (LFZ) following the signing of a fresh arrangement. The agreement was signed in the presence of the Managing Director of Tata International Limited, Mr Anand Sen, by the Managing Director of Tata Africa Holdings Pty Ltd, Mr Len Brand. This move will help Tata International build on its existing relationship in the country since 2006 when it established operations in Nigeria. “As a brand synonymous with quality products and ethical business operations in Africa, Tata International is excited to

By Adedapo Adesanya  The Kwara State Government has announced the signing of a Memorandum of Understanding (MoU) with IHS Nigeria for the development of a technology innovation facility in the state. In a statement released by the government’s spokesperson, Mr Rafiu Ajakaye, it was said that Mr AbdulRahman AbdulRazaq, the governor of the state, signed the MoU alongside IHS Nigeria CEO, Mr Mohamad Darwish, at a brief ceremony attended by several officials in Ilorin, Kwara State on Saturday, November 18, 2023. The project tagged Ilorin Innovation Hub is part of the state government’s efforts to stimulate and deepen the alignment

By Modupe Gbadeyanka An initiative aimed to promote the diversity of the African continent and showcase its rich cultural heritage to the rest of the world has been launched by YouTube. The social campaign, The Voices of Africa, will be used to celebrate the continent’s unique and traditional expressions through a select group of African creators. They will create and share videos on their YouTube Channels of their unique cultural heritage stories about their local traditions and practices, conversations with friends and family, and with people in their local communities. Some of the creators who are part of the campaign

By Adedapo Adesanya The NASD Over-the-Counter (OTC) Securities Exchange appreciated  by 0.14 per cent on  Wednesday, April 12, following a positive price movement in the stock price of FrieslandCampina WAMCO Nigeria Plc The company, which makes Peak milk, was under fire for its Easter holiday advert material deemed offensive by Christians in Nigeria, performed strongly at the unlisted stock exchange yesterday as its shares grew by N1.19 each to settle at N81.38 per unit compared with the previous day’s N80.19 per unit. The milk maker later apologised for its action. The performance of the firm suppressed the N5 loss posted

By Dipo Olowookere Shares of Honeywell Flour Mills appreciated by 10.00 per cent on Thursday to N1.87, making the company the best performer at the Nigerian Exchange (NGX) Limited during the session. The flour miller achieved this yesterday as a result of high demand for its stocks at the market, also making it the most traded by investors. A total of 384.1 million units of the company’s equities worth N654.2 million exchanged hands during the session while Vitafoam in the distant second place traded 21.4 million shares worth N331.2 million. FCMB traded 13.6 million stocks valued at N42.7 million, Japaul

By Dipo Olowookere One of the major challenges faced by retail investors in the Nigerian capital market is achieving their financial goals with the limited funds at their disposals. In fact, some of them have had to battle with how to get the right products in the market that suits their needs; equities or debt securities. It is because of these issues that the Nigerian Stock Exchange (NSE) is collaborating with Nigerian International Securities Limited for a webinar tagged Capital Market Investing in a Digital Age. Business Post gathered that the event, which will take place on Monday, September 21,

By Dipo Olowookere Farmers in Nigeria have called on the Federal Government to introduce measures that will put an end to post-harvest losses always experienced by farmers yearly in cash and food crops. Making this appeal in Abuja, Technical Adviser of the All Farmers Association of Nigeria (AFAN), Dr Tunde Arosanyin, said the rate at which farm produces waste away because of poor storage system in the country. He said this poses a great threat to the quest for food sufficiency and diversification efforts of government. Dr Arosanyin said this “constitutes to about 30 to 35 per cent loss of

By Kester Kenn Klomegah Undoubtedly, a number of Russian companies have largely underperformed in Africa, which experts described as primarily due to multiple reasons. Most often, Russian investors strike important investment niches that still require long-term strategies and adequate country study. Grappling with reality, there are many investment challenges including official bureaucracy and technical hitches in Africa.  Lukoil, the largest Russia’s oil company, has had a long history, going forth and back with the declaration of business intentions or mere interests in tapping into oil and gas resources in Africa. In the past, Lukoil has said in separate reports about

By Dipo Olowookere The average yields of treasury bills at the secondary market went down on Wednesday by 0.05 percent to settle at 2.87 percent on the back of buying pressure witnessed at the session. It was observed that yields declined across most of the tenors monitored during the midweek trading day. An analysis of the day’s transactions showed that only the one-month maturity recorded a rise in yield. The bucket appreciated by 0.20 percent to 2.27 percent from 2.07 percent it closed on Tuesday. Yield on the three-month maturity fell by 0.25 percent to 2.15 percent to 2.40 percent,

By Modupe Gbadeyanka The 7-day upward trend recorded on the floor of the Nigerian Stock Exchange (NSE) was brought to an end on Friday mainly due to the poor performance recorded by Dangote Cement, Dangote Flour and 15 other equities at the market today. Business Post reports that the major market indices closed in red today at the close of business activities at the NSE. The stock market, which went down by 0.71 percent, saw the All-Share Index (ASI) depreciating by 276.61 points to close at 39,257.53 points, while the market capitalisation lost N96.3 billion to settle at N13.7 trillion.

By Aduragbemi Omiyale The payment service bank of Airtel Africa Plc, Smartcash, has commenced operations in Nigeria with the launch of the company’s wholly-owned subsidiary at an event held in Lagos on Thursday. The leading provider of telecommunications and mobile money services, which trades its shares on the Nigerian Exchange (NGX) Limited, launched the PSB arm at the Eko Hotels and Suites with several personalities in attendance. Some of the bigwigs at the event were the Group CEO of Airtel Africa, Mr Segun Ogunsanya; the Chairman of Smartcash PSB Ltd, Mr Kingsley Umadia; the Lagos State Commissioner for Finance, Mr