Tag: business news

The Naira faced more headwinds in the unofficial market amid high demand for the dollar and a widening supply gap. The Nigerian currency was trading as low as N1750/$ during the midweek trading session on the black market in the country’s business capital, driven by strong demand for the safe-haven currency. Data from the FMDQ…

By Modupe Gbadeyanka Young Nigerians intending to learn and upgrade their digital skills can now do so through the flagship Digital Skills Empowerment Programme (DiSEP) of Stanbic IBTC Holdings Plc. The scheme was created for ambitious young graduates with a passion for technology and a strong desire for continuous learning. This year’s programme, DiSEP 4.0,…

The Sokoto State Ministry of Health has confirmed the treatment of 1,160 patients and reported 25 deaths due to gastroenteritis-related cases from January till date across 18 local government areas of Sokoto State. In an interview on Tuesday in Sokoto, Dr. Abdulganiyu Yusuf, Director of Public Health, stated that 23 of the fatalities occurred at…

It’s the weekend. Time to kick back, relax, and catch up on favourite shows, right? Wrong! As a mum with toddlers and a sports-fanatic husband, weekends at my house can also mean the “Battle of the Remote,” with everyone fighting to watch their favourite show, movie, or football game. When my toddlers are awake, it’s…

Nigeria has emerged as Africa’s leading source of international students enrolling in the United States, securing the 7th spot globally, This is according to the 2024 Open Doors Report on International Educational Exchange released by the U.S. Institute of International Education (IIE) and the State Department’s Bureau of Educational and Cultural Affairs, The report highlights…

By Dipo Olowookere Sustained buying pressure from investors at the Nigerian Exchange (NGX) Limited kept the key performance indicators in the green territory for another session on Tuesday. Yesterday, the local bourse closed higher by 0.23 per cent as bargain-hunting persisted, with the major sectors of the market growing. The insurance counter improved by 1.90…

The battle of the Ondo state Gubernatorial election 2024 has been won and lost, with Lucky Orimisan Aiyedatiwa emerging as the new Governor-elect: 1. 757 million eligible voters, 85.6% PVC collection, 22, 239 security officers deployed to enforce security, low voter turn-out, 17 candidates, slugging it out in 18 Local Government areas, 3, 933 polling…

The Nigerian All-Share Index (ASI) ended the trading session on Tuesday, November 19th, with a bullish stride, climbing 225.06 points to close the day in positive territory. This notable uptick pushed the index 0.23% higher to settle at 97,972.33 points, up from the previous day’s close of 97,747.27 points. However, the upbeat momentum in price…

By Adedapo Adesanya Crude oil marginally depreciated on Tuesday as Norway’s oilfield restarted production, with plans by Iran to cap its uranium stockpile offsetting concerns about escalation of the Russia-Ukraine war. The price of Brent crude went down by 0.1 per cent or 7 cents to $73.23 per barrel and the US West Texas Intermediate…

Shares of Lafarge Africa have surged by over 31% month-to-date as of the market opening on November 19, 2024, driving its year-to-date performance to over 60%. The rally comes after Lafarge Africa’s release of its third-quarter 2024 financial statement, which reported a 101% increase in net sales, growing from N91 billion in Q3 2023 to…

By Adedapo Adesanya President Bola Tinubu has written to the National Assembly for approval of a fresh N1.767 trillion, the equivalent of $2.209 billion, as a new external borrowing plan in the 2024 appropriation act. This development comes days after it was reported that the Nigerian government will be seeking to borrow additional funds this…

The Edo State Government has flagged off the construction of a flyover bridge at Ramat Park in Benin City, the state capital, with the China Civil Engineering Construction Corporation (CCECC) engaged to handle the project. The construction is expected to be completed within an 18-month timeline, addressing traffic congestion and improving infrastructure in the city.…

President Bola Tinubu has asked the House of Representatives to approve the implementation of a new external borrowing of $2.209 billion in the 2024 Appropriation Act. The funds will be used to partly finance the budget deficit of $9.179 trillion in the 2024 budget, according to the Speaker of the House of Representatives, Tajudeen Abbas,…

By Dipo Olowookere The Extra-Ordinary General Meeting (EGM) of Cutix Plc earlier scheduled for Wednesday, November 27, 2024, in Anambra State has now been cancelled. The cancellation of the special shareholders’ gathering was due to the resignation of Chidozie Nsoedo as a member of the company’s board. Cutix, which is in the business of electronic…

Nigerian startups are currently navigating significant hurdles, from funding constraints to talent shortage, amidst regulatory complexities. This is according to a new report by TLP Advisory, which highlights the state of Nigeria’s tech-driven innovation landscape and offers actionable recommendations for building a resilient ecosystem. The report titled, “A Decade of the Nigerian Venture Ecosystem: Numbers,…

By Adedapo Adesanya The United States has announced that Nigerian students’ enrollment at colleges and universities rose to 20,029 in the 2023/2024 academic year, marking a 13.5 per cent increase from the previous year. According to the 2024 Open Doors Report on International Education Exchange, this number places Nigeria as Africa’s leading source of international…

On November 18th, Xiaomi celebrated a key milestone in Nigeria by launching three new POCO models: the POCO X6 Pro 5G, POCO C75, and POCO C61, this event marks an exciting moment in Xiaomi’s ongoing journey to serve the diverse needs of Nigerian consumers, fulfilling its dual-brand core strategy with POCO and Xiaomi products side…

By Dipo Olowookere The issuer of the Quantoz digital euro, EURD, a regulated and programmable electronic money token, Quantoz Payments, has attracted the interest of the largest company in the digital asset industry, Tether. Business Post gathered that Tether, which has the popular stablecoin, USDt, has expressed its intention to invest in the company to…

Instagram has introduced a new feature that allows users, especially teens, to reset their content recommendations across Feed, Explore, and Reels. This was announced in a statement released on Tuesday by Meta, as part of Instagram’s continued efforts to offer safer, more personalized, and age-appropriate experiences on the platform. “We want to make sure everyone…

By Modupe Gbadeyanka The 2024 edition of the much-anticipated Zenith Bank Tech Fair is scheduled to commence on Thursday, November 21, 2024, a statement from the bank has said. The programme is tagged Future Forward 4.0: Embedded Finance, Cybersecurity and Growth Imperatives – The Impact of AI, and will take place at the Eko Convention…