business news,insider business news on Businesspost Nigeria April 19, 2024

Business

NNPC Gets DPR Support to Strengthen Energy Sector

September 8, 2021

By Adedapo Adesanya The Department of Petroleum Resources (DPR) has pledged to support the Nigerian National Petroleum Corporation (NNPC) to deliver value to Nigerians in the energy sector. The Director/Chief Executive Officer of the DPR, Mr Sarki Auwalu, gave this assurance when a delegation of the NNPC management team led by the Group Managing Director, Mr Mele Kyari, visited his

Naira Stability: Our Priority Now is Sufficient FX Supply—CBN

September 8, 2021

Economy

By Adedapo Adesanya As the Naira continues to take a heavy beating against the major international currencies at the foreign exchange (forex) market, the Central Bank of Nigeria (CBN) said its major concern, for now, was boosting Dollar supply to the market windows and not the valuation of the local currency. The Director of Monetary Policy at the CBN, Mr

CBN Reschedules MPC Meeting for September 16

September 8, 2021

Economy

By Sodeinde Temidayo David The Central Bank of Nigeria (CBN) has rescheduled the two-day Monetary Policy Committee (MPC) meeting for Thursday, September 16 and Friday, September 17. This was disclosed in a circular issued by the apex bank. Business Post reports that the MPC meeting was earlier fixed for Monday, September 20 and Tuesday, September 21, but it was moved

Paypal to Penetrate Asia With $2.7bn Paidy Deal

September 8, 2021

Economy

By Sodeinde Temidayo David PayPal Holdings on Wednesday announced that it has agreed to acquire Paidy, a leading two-sided payments platform and provider of buy now, pay later (BNPL) solutions in Japan, for $2.7 billion. This is part of the plans of the company to expand its capabilities, distribution and relevance in the domestic payments market in Japan and the

Brent Rises as US Production Returns Slowly

September 9, 2021

Economy

By Adedapo Adesanya The Brent crude oil gained 28 cents or 0.49 per cent on Wednesday at the international market to sell for $72.81 per barrel as the United States Gulf of Mexico producers made slow progress in restoring output more than a week after Hurricane Ida hit the largest oil-producing country in the world. Also, the West Texas Intermediate

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Politics

Winning Big with 1Win: Your Ultimate SA Betting Guide

April 19, 2024

Sports

Discover the seamless way to leap into the world of online betting with our comprehensive guide to using the 1Win app specifically tailored for South African users. From easy account setup, quick deposit methods, enticing welcome bonuses to ongoing promotions, and unparalleled support services, this piece is your all-in-one resource to start your successful betting journey in South Africa. Discover

NGX Index Down 0.06% on Sustained Profit-Taking in Banking Equities

By Dipo Olowookere More profit-taking in banking equities kept the Nigerian Exchange

April 19, 2024

Crude Oil Plunges as US Sanctions Outweigh Easing Tensions

By Adedapo Adesanya Crude oil slumped on Thursday as investors weighed mixed

April 19, 2024

SEC Blocks NASCON, Dangote Sugar, Dangote Rice Merger

By Aduragbemi Omiyale The proposed merger among NASCON Allied Industries Plc, Dangote

April 19, 2024

OPEC Woos Namibia After Angola’s Exit

By Adedapo Adesanya Africa may yet get another producer in the wider

April 18, 2024

Travel

Bintoo Hotel Considers Legal Redress Over EFCC Night Raid

By Modupe Gbadeyanka A prominent hospitality establishment, Bintoo Hotel Limited, has said it might seek a

Nigeria Gets $1.3bn from CCECC, Others for Kano-Maradi Rail

By Adedapo Adesanya Nigeria has secured $1.3 billion in funding to complete a railway project connecting

How Businesses Can Make Good Use of Transportation Services

Transportation services play a vital role in the operations of businesses, facilitating the movement of goods,

Bayo Onanuga Admits UAE Yet to Lift Visa Ban on Nigerians

By Adedapo Adesanya The Special Adviser to President Bola Tinubu on Information and Strategy, Mr Bayo

UAE Lifts Visa Ban on Nigerians After Two Years

By Modupe Gbadeyanka The visa ban earlier placed on Nigerian travellers by the United Arab Emirates

Latest

Jobs/Appointments

Buhari Appoints Bichi as DSS DG, Removes Seyeifa

By Dipo Olowookere President Muhammadu Buhari has approved the appointment of Mr Yusuf Magaji Bichi as the new Director-General of the Department of State Service (DSS). The appointment of Mr Bichi, according to a statement issued yesterday by the Senior Special Assistant

September 14, 2018

Economy

Livestock Sub-Sector Contributes 5.8% to Nigeria’s GDP—FG

**Lauds Chi Farms, Zoetis on Veterinary Laboratory Project By Dipo Olowookere CHI Farms and Zoetis have been commended for the establishment of an ultra-modern veterinary diagnostic centre called City Laboratory, which was commissioned on Wednesday, September 12, 2018 in Ibadan, Oyo State.

September 14, 2018

Feature/OPED

How SMEs Can Leverage e-Commerce to Reduce Overhead, Increase Profitability

By Olukayode Kolawole “I am now able to keep my overhead very low, and profit margin widened.” “Unable to get a job after my youth service, I started an electronics business 4 years ago. Today, the business has grown quadruple.” These are

September 14, 2018

Economy

Nigeria: Bond Yields Hit 8-month High on Sell Pressure

By Dipo Olowookere The bond market in Nigeria was bearish on Thursday as investors embarked on selloff, leaving the average yields closing at 15.13 percent, the highest in more than eight months. It was observed that at the market yesterday, investors became

September 14, 2018

Economy

Average T-Bills Yield Settles at 13.89% as CBN Issues ‘No Sale’ OMO Result

By Dipo Olowookere The treasury bills space was bearish on Thursday with the corresponding average yield trending higher by 0.24 percent to settle at 13.89 percent. It was observed that the yields on all tenors settled higher, especially the one-month and 3-month

September 14, 2018

Economy

Equities Remain Bearish After N98b Loss

By Dipo Olowookere The Nigerian Stock Exchange (NSE) closed on Thursday 0.84 percent lower as the negative investor sentiment continued. The year-to-date returns ended at -16.27 percent after significant losses across the market segments with the exception of the banking index, which

September 14, 2018

General

VIDEO: Jim Ovia Talks About New Book ‘Africa Rise & Shine’ on Forbes

By Modupe Gbadeyanka Nigerian businessman, Mr Jim Ovia, has been called the godfather of Banking by Forbes Africa. In a time of tension between military and civilian regimes, periods of incredible economic instability, and a decaying infrastructure, Mr Ovia founded Zenith Bank.

September 13, 2018

General

Delta Got 988% More Revenue Than Osun in H1 2018—NEITI

By Modupe Gbadeyanka A total of N3.95 trillion was shared among the federal, states and local government areas of the federation in the first half of 2018 from the Federation Account. A statement from the Nigeria Extractive Industries Transparency Initiative (NEITI) signed

September 13, 2018

Economy

Notore Shuts Down Operations at Ammonia Plant

By Dipo Olowookere The management of Notore Chemical Industries Plc, the newest company to list its shares on the Nigerian Stock Exchange (NSE), has announced the closure of its Ammonia Plant. In a statement signed by the Group Chief Legal Officer/Company Secretary,

September 13, 2018

Economy

Interbank: Naira Trades Flat at N306.25/$, Gains N43.79/£, N40.36/€

By Dipo Olowookere The local currency was generally flattish at the various segments of the foreign exchange market on Wednesday. According to the forex windows tracked by Business Post yesterday, the Naira was relatively unchanged against the Dollar. Specifically, at the interbank

September 13, 2018