Tag: business news

The Federal Government, in collaboration with the World Bank, has revised its compensation framework for land acquisition, setting matured cocoa trees in the North Central Zone at N160,000 per tree and N160 million per hectare. The framework also values matured mango trees at N105,000 per tree and N13 million per hectare, while matured cashew trees…

By Adedapo Adesanya About 300 illegal miners across the country have been arrested by the federal government in a move to revitalise Nigeria’s mining sector, according to the MInsiter of Solid Minerals Development, Mr Dele Alake. He revealed this during a strategic briefing of the House Committee on Solid Minerals’ Oversight visit to the Ministry…

We are excited to invite you to Verraki Partner’s upcoming FREE Webinar on “AI for Business Growth – Driving Digital Transformation through AI Integration”, which will explore how Artificial Intelligence (AI) can be leveraged by businesses to optimize processes, enhance customer experiences, and unlock new value streams. Date: Thursday, Nov 21, 2024  Time: 3:30 PM WAT/ 2:30PM…

By Jerome-Mario Utomi As the nation Nigeria grapples with, and frontally struggles to exit third world challenges of illiteracy and poverty and transform, through hard work and massive human and material development to a nation characterized by coordinated infrastructural provision and a society where justice and peace reign supreme, one thing stands out; addressing some…

Trading offers a pathway to financial growth, yet for many beginners, fear of loss, mistakes, and market unpredictability can create mental blocks. This article explores common trading fears, breaks down their causes, and presents practical methods to manage them. With insights on risk management and confidence-building strategies, Octa, a broker with globally recognised licences, aims…

Warren Buffett’s Berkshire Hathaway has taken a new position in Domino’s Pizza Inc. while continuing to pare back its investment in Apple Inc. This was disclosed in a regulatory filing late Thursday. Berkshire reported ownership of approximately 1.28 million shares in Domino’s as of the end of the third quarter, prompting a swift 7% increase…

Algeria, Angola and Côte d’Ivoire were added to the Financial Action Task Force’s “grey list” after falling short in their financial regulatory and legal regimes, while Senegal was removed from the list after making improvements.    The FATF, an intergovernmental organisation, sets international standards for anti-money laundering; countering the financing of terrorism; and countering the financing…

Shareholders in Dangote Cement have consistently benefited from robust dividends, with cumulative payouts reaching N2.8 trillion by 2024. In 2023, the company raised its dividend by 50% to N30 per share, yielding 6.27% at the current share price of N478.80. This boost contributed to a total return of 56% year-to-date, driven by both dividend income…

By Adedapo Adesanya Nigeria’s Securities and Exchange Commission (SEC) has said that the Investments and Securities Bill (ISB) 2024 is proposing a penalty of N20 million or a 10-year jail term or both for Ponzi scheme operators. The Director-General of SEC, Mr Emomotimi Agama, said this at the public hearing of the bill on Thursday…

Tedros Adhanom Ghebreyesus, Director-General of the World Health Organization (WHO), has called for immediate global action to address the escalating crisis of synthetic opioid and psychoactive drug use. Speaking at the COP29 UN Climate Conference in Baku, Republic of Azerbaijan, Ghebreyesus shared a clip via his X handle, emphasizing the critical public health toll of…

By Adedapo Adesanya The NASD Over-the-Counter (OTC) Securities Exchange was pulled down by 0.28 per cent on Thursday, November 14 by four securities admitted to the trading platform. Yesterday, the market capitalisation of the alternative stock exchange shrank by N3.53 billion to N1.046 trillion from the N1.049 trillion recorded in the preceding session. Equally, the…

The Coalition in Support of National Security Advancement (CSNSA) has urged President Bola Tinubu and the National Assembly to reject the Nigerian Coast Guard Bill, arguing that it would allegedly jeopardize national security and place a significant strain on the country’s limited financial resources. The CSOs, which include the Centre for Social Justice, Equity and…

By Dipo Olowookere It was a bad day for the Nigerian Exchange (NGX) Limited on Thursday as it depreciated by 0.25 per cent at the close of business due to profit-taking. The decline suffered by the bourse happened despite investor sentiment getting stronger after recording 32 price gainers and 15 price losers, indicating a positive…

Türkiye has introduced new regulatory changes aimed at addressing labour shortages and attracting foreign talent to key sectors of its economy. TravelBiz reports that the Ministry of Labour and Social Security announced a series of changes designed to make it easier for foreign workers to contribute to the country’s economy and society. The new rules…

As Cop29 unfolds, African heads of state and their negotiating teams are pushing for a greener future for Africa in Baku, Azerbaijan, and the stakes have never been higher.   While diplomats and experts continue to push for an overall agreement, there has already been a flurry of announcements concerning Africa at side-events.   Innovative finance On…

Northern Nigeria Flour Mills PLC has announced an interim dividend of 50 kobo for each ordinary share of 50 kobo, payable to its registered shareholders. This disclosure, released on the NGX portal on November 14, 2024, was signed by the company secretary, Ogwuche Theophilus. According to the disclosure, the dividend will be subject to applicable…

NMDPRA approves additional 3.5 billion litres for December There has been a rise in petrol importation by marketers in Nigeria over the last few days despite calls for patronage of local refineries. This is based on a new report that details petroleum imports over the last few weeks and was made available to Nairametrics by…

By Aduragbemi Omiyale One of the prominent quick-service restaurants (QSRs) in Nigeria, Tantalizers Plc, has appointed a Dutch-trained engineer, Mr Robert Speijer, as its new group managing director. He has been brought into the firm to lead its transformation to become a highly diversified company with strategic holdings in the food, entertainment and blue economy…

Infinix, a trendy tech brand crafted for young consumers, partnered with UNESCO to hold a two-day AI and robotics training workshop in Nigeria. The workshop, held at the United Nations House, Abuja, ends today, 14 November 2024, and aims to empower Nigerian educators with essential coding, machine learning, and robotics skills to enhance STEM education…

This article is sponsored by BIDC “We can no longer produce the way we used to. It has become critical to invest in technology to truly transform this sector in order to produce more in terms of quantity and quality and achieve food security.” In making this appeal at the maiden edition of the ECOWAS…