Nigeria News
Lagos Govt. Seeks Adherence To Standards In Projects Evaluation
The Lagos State Government has renewed calls for the Standard Operational measures to be adhered to in monitoring and evaluation of projects and programmes of the state. The call was made at a one-day stakeholders’ forum on Monitoring and Evaluation processes, aimed at familiarizing various partners with the step-to-step procedures from procurement stages to […]
House Of Reps Set For Retreat On Economy Transformation And Development
The House of Representatives is set to hold a two-day Retreat for its Members, to strengthen their legislative and oversight capacity, as well as foster collaborative efforts towards economic development and tax reforms. The retreat is scheduled to take place from Tuesday, April 30 to Wednesday, May 1, 2024 at the Abuja Continental Hotel, will be […]
Politics
Kogi election: Tribunal adjourns for adoption of final written addresses
The Kogi Governorship Election Petition Tribunal sitting in Abuja has adjourned the hearing of the petition filed by the Social Democratic Party, SDP, and its governorship candidate, Murtala Ajaka, until May 13 for the adoption of final written addresses. Ajaka is challenging the election victory of Governor Usman Ododo of the All Progressives Congress, APC. […]
Business
BDC operators plan harmonised retail FX market
The Association of Bureaux De Change Operators of Nigeria has revealed plans for a unified retail end of the foreign currency market. A statement from the association on Friday disclosed that the move would tackle volatility and boost regulatory compliance within that segment of the market. ABCON President, Aminu Gwadabe, said ABCON was implementing plans […]
Nigeria loses $9.2bn annually to foreign shipowners, say experts
Maritime experts have said that Nigeria is losing a sum of $9.2bn annually to foreign shipping lines that are handling cargo that a national fleet is supposed to handle. A former Chairman of the National Fleet Implementation Committee, Hassan Bello, who disclosed on Friday at the inauguration of the new executives of the Shipowners Association […]
Naira appreciation: Why there’s no immediate gain for manufacturers — Coleman Wire MD
The Managing Director of Coleman Wires and Cables, Mr. George Onafowokan, has given insight into why the naira appreciation may not bring immediate gain to manufacturers. He said this is because buyers held back on purchases, waiting for the currency to continue to strengthen. “This led to a waiting game, with speculators hoping to profit from […]
Ecobank MySME growth series: Expert Canvasses for brand repositioning for SMEs
Small and medium enterprises (SMEs) in the country have been advised to embark on brand repositioning to survive the current competitive environment. General Manager, Enterprise Marketing, MTN Nigeria, Charles Okonkwo, made this submission in his presentation titled: Positioning your brand for a success in a competitive market, delivered at the Ecobank MySME Growth […]
Fidelity Bank: Improved Share Price as Growth Indicator
When the management of the Nigerian Exchange Limited (NGX) in July 2023 announced that it was reclassifying Fidelity Bank Plc from small-price stock to medium-price stock, financial analysts concluded that the road to attaining Tier1 status by the bank is closer than ever imagined. In full year 2022. Fidelity Bank briefly fell into the Tier […]
Global trade hit over $30tn in 2023 – WTO
Global trade has continued to grow, reaching over US$ 30.4 trillion in 2023, a fivefold increase since 1995, the World Trade Organisation has stated. In a report to mark its 30th anniversary, the WTO, which was established on April 15, 1994, after the signing of the Marrakesh Agreement, noted that between 1995 and 2023, total […]
Naira loses 0.64% against dollar at official market
The naira on Wednesday further depreciated at the official market, trading at N1,308.52 to the dollar. Data from the official trading platform of the FMDQ Exchange, a platform that oversees the Nigerian Autonomous Foreign Exchange Market (NAFEM), revealed that the Naira lost N8.37. This represents a 0.64 per cent loss when compared to the previous […]
Shareholders approve $1.5bn capital raising for Access Holdings
The shareholders of Access Holdings Plc have unanimously approved the company’s proposed capital raising of $1.5 billion through a bond or share sale and a further N365 billion via a Rights Issue to fund its ambitious growth plans. The shareholders also ratified the appointments of Aigboje Aig-Imoukhuede, Olusegun Ogbonnewo, and Ojinika Olaghere as Non-Executive Directors. […]
MRS slashes diesel price to N1,050 per litre
IN response to Dangote Refinery’s recent price slash, MRS Oil Plc, a major oil marketing company, yesterday, reduced the price of its diesel to N1,050 per litre, from N1,200 per litre, nationwide. The Dangote Refinery had earlier slashed further the prices of both diesel and aviation fuel to N940, and N980 per litre respectively. However, in […]
Dangote Cement records 26% rise in sales volume
Strategies adopted by Dangote Cement to increase sales and ensure an adequate supply of products to customers are yielding the desired results as domestic sales volume increased, by 26.1 percent to 4.6 metric tons (Mt) in the first quarter of 2024. According to the cement manufacturer’s unaudited results for the three months that ended, on April […]
Energy/Oil&Gas
NNPCL Restores Petrol Supply In Lagos
The NNPC Limited said tight supply witnessed in some filling stations in Lagos was as a result of an issue in one of the Depots in the area. The NNPC Retail Limited, has since resolved the issue and effective tomorrow, normalcy will be restored within the affected area. The NNPC Limited calls on motorists in Lagos […]
Opinion
Gov Otti, new Abia, and equity branding
By Foster Obi In nine months, Governor Alex Otti has become a brand with a recognizable positive Brand equity. Taken by the effects, some writers have described his positive energy as ‘ethereal’, others ‘surreal,’ while a commentator simply called it ‘amazing’, and with due respect to the biblical quotation, “those that sit in darkness have […]