Nigerian Cinemas Generate N4.8bn from Ticket Sales

By Adedapo Adesanya  With Detty December around the corner, which means concert season, Livewire Concerts, an international entertainment company based in Nigeria, is launching its first edition of shows headlined by women on December 17, 2023. Themed A Night of Queens, the concert will have an all-female lineup featuring musical heavyweights such as Tiwa Savage, Teni, Simi, Waje, Niniola, Yemi Alade, and more, showcasing the incredible talent and diversity of Nigeria’s female music scene. In a statement shared with Business Post, the organisers said the concert promises a diverse musical medley, showcasing the unique styles and sounds that have made

By Bliss Okperan The Edo State Governor, Mr Godwin Obaseki, has wished Afrobeats singer, Divine Ikubor, popularly known as Rema, a speedy recovery. In a message via his X (formerly Twitter) handle on Thursday, the Governor said the people of Edo State, where the singer hails from, are proud of him and remain behind him every step of the way. “We are extremely proud of you and remain behind you every step of the way,” a part of his post read. Mr Obaseki said the remarkable achievements of the artiste “over the years fill us with immense pride and joy.”

By Modupe Gbadeyanka A foremost pay-tv service provider in Africa, MultiChoice, has raised an alarm that its over $85 million investments in local content through Africa Magic are under threat from piracy. The Africa Magic channel airs movies produced by local filmmakers across the continent. MultiChoice said it pumped that amount of money into domestic content over the last few years to create opportunities for young creators to earn a living from their work and for Africa to tell its authentic stories. It noted that this was done through the production and acquisition of films promoting the African culture, but

By Aduragbemi Omiyale A cyber security expert, Mr Alhassan Haru, has advised Nigerians to be wary of what they post online as criminals could use such content to wreak havoc. Speaking at a consumer advocacy initiative in Benin City, Edo State tagged Shine Your Eyes, No Fall Mugu, Mr Haru advised participants to eschew certain practices if they want to safeguard unauthorised access to their financial and other sensitive information online. At the event facilitated by the Consumer Affairs Bureau (CAB) of the Nigerian Communications Commission (NCC), Mr Haru, who is the Director of New Media and Information Security (DNMIS),

Digital commerce is becoming the fastest-growing commerce in the Nigerian market, as immense growth has been recorded in this sector in recent years. This growth is driven by the increasing adoption of technology and the rise of online payment platforms in Nigeria. According to statista.com, the e-commerce sector of the Nigerian economy is expected to peak at $9.02bn in 2023 with an annual growth rate of 11.74 per cent, resulting in a projected market volume of $14.06bn by 2027. Although the Nigerian e-commerce industry faces several challenges, including poor infrastructure, payment infrastructure, a general lack of trust in online transactions,

By Dipo Olowookere Lagos-based world-class inspection, training and rope access company, JC International, has strengthened its authority and dominance in the sector with the recent endorsement received from Vallourec, a firm which has the most renowned certifications. This was after the company met the conditions set by Vallourec Technical Specifications for Inspection Companies (TSIC). The certification qualifies JC International as a Drilling Inspection Workshop Level II for Drilling Equipment and Rotary Shouldered Connections. The management of JC International explained that it went for the certification as part of its commitment to continually meet and exceed customers’ expectations. According to the

By Dipo Olowookere The Nigerian Stock Exchange (NSE) recorded its first loss of the week on Tuesday as investors peruse the few already released 2017 full year financial earnings of firms quoted on the NSE. Business Post reports that at the close of business today, the stock market went down by 0.66 percent with the year-to-day return shrinking to 10.61 percent. This loss came on a day the National Bureau of Statistics (NBS) released figures of the nation’s Gross Domestic Product (GDP) for the fourth quarter of 2017 as well as the full year. In the data released by the

By Ahmed Rahma The Governor of Lagos State, Mr Babajide Sanwo-Olu, has commended the management of the Nigerian Port Authority (NPA) for using technology to address the traffic logjam at the Apapa area of the state. Mr Sanwo-Olu, who spoke when the Managing Director of the NPA, Mrs Hadiza Bala Usman, paid him a courtesy visit at the Government House in Alausa, Ikeja, on Tuesday, said he was excited with the introduction of an electronic call-up system. The system, according to the NPA, would ensure that trucks are allowed on the Apapa corridor via a booking system. The initiative would

By Dipo Olowookere About 50,000 jobs have been created in the country following the signing of a Memorandum of Understanding (MoU) on the supply of phosphate between the Nigerian and the Moroccan government. Group Managing Director of the Nigerian National Petroleum Corporation (NNPC), Dr Maikanti Kacalla Baru disclosed this on Thursday while receiving the National Coordinator of The New Partnership for African Development (NEPAD-Nigeria), Princess Gloria Akobundu, at the NNPC Towers. Dr Baru who noted that the MoU between the two countries was for the supply of phosphate to rejuvenate agriculture by making fertilizer available and affordable, confirmed that the

By Dipo Olowookere About N214.95 billion worth of bonds has been raised by the Federal Government at its first auction in the year 2017. According to the Debt Management Office (DMO), which carried out the exercise on behalf of the government, it raised a N105.10 billion worth of 20-year bonds that would mature in 2036 at 16.99 percent. Making this disclosure on Thursday, the DMO noted that the coupon rate for the 20-year bonds was higher than the 16.43 percent offered in the same category in December 2016. It said further that the sum of N74.90 billion was raised on

By Dipo Olowookere Transactions remained bearish on the floor of the Nigerian Stock Exchange (NSE) at the midweek session, shedding 0.91 percent at the close of business. The All-Share Index (ASI) decreased at the trading day by 267.73 points to close at 29,110.90 points, while the market capitalisation went down by N138 billion to settle at N14.995 trillion, lower than N15.133 trillion it ended on Tuesday. It was observed that Zenith Bank was the most transacted equity on Wednesday at the stock market. The lender exchanged 46.6 million units worth N980.7 million. Unilever Nigeria transacted 25.0 million shares valued at