Saudi puts volume of trade with Nigeria at  $600m  

September 26, 2023 Tope Sunday 0

Royal Embassy of the Kingdom of Saudi Arabia(KSA) in Nigeria,  Faisal bin Ebraheem Alghamdi, has  put  the volume of trade between the country and Nigeria at  more than $600million. He also said the Kingdom has given more than 200 scholarships to Nigerian students to study in different universities across the KSA. Alghamdi made the disclosures Monday evening in Abuja during the celebration of the Read More

Expert urges architects to embrace facility management, others

September 26, 2023 David Agba 0

A facility management expert and Managing Director, Global Property & Facilities International Limited, Dr. Muhammad Balogun has implored construction industry operatives to adhere strictly to states’ and federal regulations. He also urged architects to approach their work with the utmost professionalism, recognising that their expertise and diligence guide both structural integrity and public safety. Balogun, who spoke at the Ikeja Read More

Is National Housing Fund a mirage?

September 26, 2023 Content Administrator I 0

Questions are being asked on the genuineness or otherwise of the National Housing Fund (NHF).This report examines how the fund has fared in the last 31 years. Established by Act 3 of 1992 the National Housing Fund (NHF) is meant to mobilise funds for the provision of affordable residential houses for Nigerians. It is expected that commercial and merchant banks Read More

Total Energy pledges to protect environment, climate action

September 26, 2023 Content Administrator I 0

The Managing Director of Total Energy, Dr. Samba Seye, has said the organization is committed to protecting the environment and promoting climate actions, while provoking environmental consciousness among communities and young ones. He made this known at Obele Community High School and Ideal Girls School, Lagos State to commemorate the World Clean Up Day.  Dr Seye added that the commemoration, Read More

Perm Sec presented 11 operational vehicles to MDAs

September 26, 2023 Helen Oji 0

  The Permanent Secretary of the Federal Ministry of Environment, who is also the Chairman, Federal Technical Committee of the Agro-Climatic Resilience in Semi-Arid Landscapes ( ACReSAL ) Project, Mr. Ibrahim Yusufu Idris, has presented 11 operational vehicles to some of the lead implementing MDAs on the ACReSAL Project and a charged them to be focused. He gave the charge recently at the Read More

MTN, Glo, others meeting KPIs despite challenges – NCC

September 26, 2023 Segun Odunewu 0

Latest data from the Nigerian Communications Commission (NCC) shows that the four mobile network operators, MTN, Globacom, Airtel, and 9mobile, are meeting their Quality of Service (QoS) Key Performance Indicators (KPIs). According to the Nationwide QoS data released by the Commission, the telcos met their KPIs between July 2022 and June 2023. The operators’ performances are measured by the regulator Read More

FirstBank committed to development, economic transformation of Africa – Adeduntan

September 26, 2023 Segun Odunewu 0

FirstBank has reiterated its commitment to the development and economic transformation of the African continent, and is unwavering as it continues to make the required investments to actualize the goal. Chief Executive Officer of the FirstBank group, Dr. Adesola Adeduntan, disclosed this while speaking at the Africa International Trade Exhibition (A.I.T.E 2023), held recently at the Hilton Hotel Midtown, New Read More

Goldman Sachs sees oil prices hit $100/b

September 26, 2023 Blessing Anaro 0

Goldman Sachs has predicted oil price will likely to rise to $100 again, citing lower production output from the Organization of Petroleum Exporting Countries (OPEC), amongst others. But Bismarck Rewane, Chief Executive Officer (CEO) of Financial Derivatives Company (FDC) Limited says it will only increase revenue to governments but will not benefit Nigerians. “Globally, oil prices trade at $95/b and Read More

Nigeria faces insolvency on swelling debt, naira devaluation -Analysts

September 26, 2023 Blessing Anaro 0

The recent addition of securitized N23.7 trillion Ways and Means (W&M) owed the apex bank to the domestic component of the Federal Government (FG) debt and the devaluation of the naira have increased Nigeria’s possibility of becoming insolvent, analysts have warned.1 per cent being domestic debt. “In terms of the proportional distribution of the debt liability between the FG and Read More

Global trade: Afreximbank urges prioritisation of export trading coys to drive SME participation

September 26, 2023 David Agba 0

The African Export-Import Bank (Afreximbank) has called on African countries to prioritise the development of public and private export trading companies (ETCs) in order to position the continent’s small and medium enterprises (SMEs) to participate effectively in global trade. In an address to the Africa International Exhibition, which opened yesterday on the sidelines of the United Nations General Assembly in Read More

Customs FOUC intercepts hard N1.6bn drugs, IED materials

September 26, 2023 Suleiman Idris 0

The Nigeria Customs Service, Federal Operations Unit, Zone ’C’ has intercepted cannabis sativa, raw materials for production of explosive devices and other contraband with a Duty Paid Value (DPV) of One Billion, Six Hundred and Forty-Eight Million, Four Hundred and Ninety-Four Thousand, Five Hundred and Seventy-One Naira (N1,648,494,571.00), it told journalists on Monday. The zone also arrested nine suspects in Read More

Anniversary: Africa World Airlines fete passengers with return tickets

September 26, 2023 Suleiman Idris 0

Eleven passengers have received return tickets across the network of leading West Africa carrier, Africa World Airlines as part of activities to commemorate its eleventh anniversary and reward its loyal passengers. Head of Commercial, Jonathan Appiah, told reporters that the 2023 anniversary was aimed at giving back to their passengers in order to honour their loyalty and commitment to A.W.A Read More

Union Bank unveils CSI report on inclusive growth

September 26, 2023 Amaka Ifeakandu 0

Union Bank of Nigeria has released its 2022 Citizenship, Sustainability, and Innovation (CSI) report, outlining the bank’s efforts across three pivotal areas – Citizenship, Sustainability, and Innovation. The 7th edition of the report, titled ‘Driving Inclusive Growth; Impacting Lives, Enabling Success,’ provides an extensive overview of Union Bank’s ongoing commitment to fostering a sustainable future. It chronicles the bank’s dedication Read More

Equity market opens week in bearish trend, sheds N242bn

September 26, 2023 Amaka Ifeakandu 0

Domestic equity market on Monday opened week bearish, shedding N242 billion as profit taking activities persisted during the day. Market capitalisation of listed equities declined by 0.66 per cent to N36.605 trillion from N36.847 trillion reported on Friday. The NGX All Share Index also depreciated by 441.95 basis points to 66882.64 points from 67324.59 points recorded the previous day. A Read More

Conoil grows earnings to N145.8bn, pays dividend of N1.73bn

September 25, 2023 Amaka Ifeakandu 0

Conoil Plc, has reported gross earnings of N145.8 billion for the 2022 financial year. The amount represents an increase of 5.3 per cent against N138.2 billion in the corresponding period of 2021. The major oil marketer in a statement at the weekend on its audited results for the year ending December 31, 2022, said despite the massive developmental challenges in the Read More

UBA ‘headline’ sponsors Lagos International Trade Fair 2023

September 25, 2023 Benjamin Umuteme 0

Africa’s Global Bank, United Bank for Africa (UBA) has announced that it is once again the headline sponsor of the 2023 edition of the annual Lagos International Trade Fair.  In partnership with the Lagos Chamber of Commerce and Industry (LCCI), organisers of the annual event, UBA seeks to bolster small and medium scale businesses, while catalysing entrepreneurial growth across the Read More

UBA rolls out $6bn SMEs financing solutions

September 25, 2023 Benjamin Umuteme 0

  Africa’s Global Bank, United Bank for Africa (UBA) has announced an initiative aimed at providing robust and comprehensive financing solutions to support and boost activities of Small and Medium scale Enterprises (SMEs) across the African continent. Through this initiative, the bank will be giving SMEs the opportunity to access financing for small businesses that specialise in the key sectors Read More

Oil majors to spend $55bn investment to boost Nigeria’s energy sector

September 24, 2023 Blessing Anaro 0

Major International Oil Companies (IOCs) in Nigeria have earmarked over $55 billion investment in various oil and gas activities up to 2030. Analysts believe this is an outcome of President Tinubu’s intensive investment drive recently. According to Special Adviser to the President on Energy, Olu Verheijen, the commitment follows a series of engagements with key government officials. About $13 billion is Read More

Lotus Bank, DBN back stakeholders on payment for infrastructure

September 24, 2023 Amaka Ifeakandu 0

Lotus Bank Limited and Development Bank of Nigeria (DBN) have reiterated their commitment towards supporting key stakeholders in driving more  resilient payment infrastructure in Nigeria. Addressing financial journalists in Lagos at one day  conference, Lotus Bank stressed that the financial institution has enhanced its capabilities in advancing customer-centric solutions to ensure ease of payment while the DBN said an efficient payment Read More

Boosting businesses through access to finance

September 22, 2023 Content Administrator II 0

For any business to survive and grow it must be able to access finance hence many businesses continue to struggle. In this piece, BENJAMIN UMUTEME takes a look at the thorny issue of access to funds. The Small and Medium Enterprises Agency of Nigeria (SMEDAN) estimates that Nigeria has over 39.65 million MSMEs as of 2020. However, for many Nigerian Read More