Category: Business
“After considering the impact of the skyrocketed prices of baking ingredients/materials, for the survival of our noble business, which is presently bleeding, the association came to the conclusion to adjust our prices by 30 percent. The incessant increase of prices of flour and other baking materials is responsible for the decision,” Mansur Umar, National President, […]
On Wednesday the Naira gained 0.23 percent, or 94 kobo, versus the US dollar in the Investors and Exporters (I&E) window of the foreign currency market. It was the first time the local currency moved at the official market after trading flat in the last three trading sessions. Data posted on the FMDQ Security Exchange […]
Dangote refinery is not the only refiner the Nigerian National Petroleum Corporation (NNPC) plans to acquire a minority stake in, as its incoming rival, BUA will also be expected to part with some shares. The government-owned oil company will acquire a stake in BUA refinery in line with a new policy issued by President Muhammadu […]
The Director-General of the World Trade Organisation (WTO), Dr. Ngozi Okonjo-Iweala, has reiterated her call for the restructuring of debts owed by African countries to enable them provide economic stimulus packages for their economies and accelerate recovery from COVID-19 devastations. She explained that Africa’s economies required short-term policies that would enable them to get more […]
The Lagos State Government in collaboration with Facebook and Google has concluded plans to construct the biggest technology cluster in West Africa. This is part of the state government’s effort to largely increase the level of its intervention in the provision of technology infrastructure and expand the tech space to accommodate more startups. This disclosure […]
Gold started the Asian session today bearish, but remained near its 10-year high. The indecisiveness in the direction is due to the Chinese Caixin services economic data and investors not being too optimistic on key U.S. economic data that is scheduled to be released today and tomorrow. Gold futures is down 0.45% currently trading at […]
Cinema companies are gearing up to increase ticket prices across their locations in Nigeria, as they fight to remain in business and competitive after over six months shutdown. Following the COVID-19 pandemic outbreak in Nigeria, the Federal Government closed entertainment centers to curb the virus – the cinema business was greatly affected. It was on lockdown longer […]
The acquisition of Shoprite Nigeria has finally been completed, with Ketron Investment Limited taking over the South African retail company from Retail Supermarkets Nigeria Limited. Shoprite had announced in August 2020 that it was divesting from its Nigerian subsidiary as it continued to sustain losses, which was compounded by the COVID-19 pandemic. The retail giant, with […]
The price of oil has hit a 30-month high following a positive demand outlook by the Organization of the Petroleum Exporting Countries (OPEC). The price of a barrel of brent, the benchmark against which Nigerian crude is traded climbed 1.3 percent, to $70.25 a barrel, a level not seen since May 2019, having hovered around […]
For starters, penny stocks have a low price per share value that falls within the price range of N5 and below, which means you don’t need a ton of cash to invest in them. They are also often capable of providing massive returns to investors, and this is what attracts investors to them. Penny stocks […]
The Department of Petroleum Resources (DPR) has revealed that about 5,300 discovered oil reserves are yet to produce a single drop of crude oil. The Director/Chief Executive Officer, Auwalu Sarki DPR, Auwalu Sarki, disclosed this in a chat with journalists on Monday. According to Anwalu, out of 7,000 oil reserves that have been discovered in […]
The federal government has warned accounting officers in charge of preparing personnel budgets in ministries, departments, and agencies to avoid shady practices or face sanctions. Mrs. Zainab Ahmed, Minister of Finance, issued this warning in the “2022 Personnel Cost Budget Call Circular,” referenced as “BD/2000/EXP/S.651” and dated May 14, 2021. The circular, which includes several mandated instructions, […]
Bitcoin recorded its biggest monthly fall in over two years as it declined by 37.5 percent at the end of this month. The decline reflected the volatility of the most popular cryptocurrency in recent weeks. Bitcoin had been trading high in the first week of May, exchanging hands for more than $50,000 after surpassing the $60,000 […]
MTN Nigeria and Airtel Nigeria made N720.07 billion from Voice, Data, and Other services between January and March 2021. This is an increase of N108.7 billion from the N611.34 billion they recorded within the same period in 2020. This was confirmed from the financials of the two biggest Telecommunications outfits in Nigeria. The reports disclosed that while […]
Oil prices rose during the Asian session today as Brent Crude broke through $70 due to investors’ bullish sentiment on the demand outlook for fuel during the summer season in the United States. The country has also had a very successful COVID-19 vaccination rollout so far with cases hitting a record low. Prices were also […]
