Zuckerberg’s Facebook makes full bet on Nigeria, as Lagos becomes sub-Saharan Africa operations hub
Phillip Isakpa and Saviour Adugba
September 18, 2020
Phillip Isakpa and Saviour Adugba Move seen as strong commitment to Africa Mark Zuckerberg, the founder of Facebook, paid a surprise visit to Lagos, Nigeria in August 2016; and against widely held western media view that the country was unsafe for the likes of Zuckerberg, he added a twist to that visit by walking on […]
NCC warns against use of illegal GSM boosters
Saviour AdugbaSeptember 18, 2020
Saviour Adugba The Nigerian Communications Commission (NCC) has frowned against the use of illegal GSM boosters in the country. The commission’s position was made known in a statement signed by Ikechukwu Adinde, its director of public affairs, accessed by Business A.M. on the NCC’s official website. “The attention of the Nigerian Communications Commission has been […]
Nigeria’s Okonjo-Iweala stays in contention for WTO top post as 3 candidates lose out
Onome AmugeSeptember 18, 2020
Onome Amuge Three candidates out of the eight vying for the position of the director-general of the World Trade Organisation (WTO) lost out of the race Friday after failing to accumulate enough support in the first rounds of voting, leaving only five candidates, including Nigeria’s Ngozi Okonjo-Iweala. The candidates that are out of the race […]
Subsidiaries NPDC, IDSL, Duke Oil help NNPC ramp up trading surplus to ₦20.36bn in July
adugbaesaviourSeptember 18, 2020
Onome Amuge The Nigerian National Petroleum Corporation (NNPC) says it recorded an increased trading surplus of N20.36 billion in July 2020 compared to the N2.12 billion surplus in June 2020 in its operations. This was disclosed in a statement released by Kennie Obateru, group general manager, group public affairs division of the corporation. According to […]
Nigeria equities close in red on sell-offs in ZENITH, ETI, DANGSUGAR, investors lose N9.2bn
Charles AbuedeSeptember 17, 2020
Charles Abuede The equities market will more likely close the week in the red zone given the bearish sentiments which have played in the local bourse this week. Consequently, market investors parted with N9.2 billion owing to the bearish performance which saw Zenith, ETI and DANGSUGAR stocks drag the market on Thursday. On the trading floor […]
WorldRemit offers UK-based Nigerians freebies, to celebrate Nigeria’s 60th independence anniversary
Businessam StaffSeptember 17, 2020
Offers Nigerians in the UK exciting freebies, money saving service bundles As Nigerians prepare to roll out the drums in celebration of the country’s 60th independence anniversary, WorldRemitt, a leading digital payment platform, is offering special freebies and unique service offers to approximately 215,000 Nigerians living and working in the United Kingdom. Gbenga Okejimi, the […]
Africa’s first recession in 25 years seen on back of COVID-19, but offers investor opportunities
Charles AbuedeSeptember 17, 2020
Charles Abuede Risks experts say the immediate impact of COVID-19 will see Africa experience its first recession in 25 years, but more worrying is the lack of fiscal headroom available to African governments to engage in stimulus spending. Jacques Nel, head of Africa Macro, NKC African Economics, revealed during the launch of the fifth edition […]
Nigerian bourse dragged down by profit-taking in WAPCO, UBA, Zenith, as investors lose N1.2bn
Charles AbuedeSeptember 16, 2020
Charles Abuede Investors in the Nigerian equities market lost N1.2 billion on account of the continued bearish trading activities as sustained profit-taking dragged the performance to the red. However, more opportunities for bargain hunting continue to offer themselves to investors, said analysts. The performance of the market in Wednesday’s trading activities was largely as a […]
Covid-19 drives Nigerians into investment migration to Europe, Caribbean
BEN EGUZOZIESeptember 16, 2020
Ben Eguzozie Astonishingly, 185% increase in Nigerians enquiries received in Q1 & Q2 2020 Portugal’s RBI, Montenegro’s CBI are major attractions 50% rise in enquiries in six months The enormous instability driven by Covid-19 is pushing scores of Nigerians into seeking investment migration to some lesser politically exposed European and Caribbean countries, said a report […]
Côte d’Ivoire, Ghana, world’s top cocoa producers, consider hiking farm gate price
Onome AmugeSeptember 16, 2020
Onome Amuge The world’s largest cocoa producers, Côte d’Ivoire and Ghana are seeking to dampen the economic blow of the pandemic on poverty levels by considering an increment in the payment to local growers. The two West African countries, which account for 65 percent of global cocoa production, have been forced to consider the farm-gate […]
Frontpage posts
US stock index futures point to slightly lower open
Business News December 18, 2019
Amazon joins Apple, hits 1 $trn market value
Frontpage September 5, 2018