Funding entrepreneurs’ biggest challenge on Africa’s path to industrialisation, says ASEA president
Adesola AfolabiMay 29, 2018
Providing funds for entrepreneurs in need of star-tup capital has been identified as one of the biggest challenges African exchanges are facing. Oscar Onyema, president of Africa Security Exchange Association (ASEA) and chief executive officer (CEO) of the Nigerian Stock Exchange reveal this while responding to questions at the sidelines of the 2018 Annual Meetings […]
Government neglect threatens Nigeria’s Lagos-Ikeja GRA burgeoning investment hub
Businessam StaffMay 29, 2018
Ikeja GRA was once Lagos’s alternative Ikoyi. In fact, many say when the Federal Government controlled Ikoyi, the Lagos State Government guided Ikeja GRA jealously. Like Ikoyi, it had its own Golf Club, separated from its Lagos Country Club, Ikeja; and the latter was the equivalent of Ikoyi Club. It was fully residential at the […]
Nigerian stocks’ bear run extends to 8th consecutive session as sell-pressure on banking counters drags index 0.72%
Businessam StaffMay 28, 2018
Nigerian stocks Monday extended losses from last week’s trading sessions as the benchmark index, the NSEASI, dipped 0.72 percent – its 8th consecutive daily decline – to settle at 39,040.44 points. Year-to-date (YTD) return further moderated to 2.1 percent. Consequently, market capitalization lost N106.9 billion to close at N14.1 trillion. The days performance was largely […]
Outlook for oil still bullish despite Saudi-Russia crude plan, says Goldman Sachs
Ayobami AdedinniMay 28, 2018
Goldman Sachs Group Inc., leading global investment banking, securities, and investment management firm, has called bullish outlook for oil despite the recent dip in prices over OPEC and Russia planned production boost. Analysts at Goldman Sachs, including Damien Courvalin in a May 25, 2018 report said the plan by Saudi Arabia and Russia to revive […]
Investments under threat in Nigeria’s Lagos highbrow Ikeja GRA
Businessam StaffMay 28, 2018
Infrastructural challenges, a major plague of the Nigerian economy, appear to have extended its frontiers to the highbrow Government Reserved Area (GRA) of Ikeja, threatening investments and revenue generating opportunities for private investors in the capital city of Lagos State, Nigeria’s commercial hub. Ikeja GRA, located in the seat of government of a state that […]
Nigeria loses over N5.7bn daily to Trans Forcados pipeline shutdown
Ayobami AdedinniMay 28, 2018
Nigeria may be losing over N5.7 billion daily to Trans-Forcados pipeline, (TFP) which was recently shut down following May 7, 2018, suspected explosion on the facility. Specifically, the country is said to have lost about 250,000 barrels of crude oil production output for which at the oil price of $76 per barrel, the country would […]
Nigeria govt saves N125bn between 2016-2017 from reduction of official allowances
Businessam StaffMay 28, 2018
Kemi Adeosun, Nigeria’s minister of finance, said Sunday that in an effort to reduce the cost of governance, the country was able to save the sum of N125 billion between 2016 and 2017, through the reduction in travel allowances, sitting allowances and other recurrent expenditure such as office stationery. According to the minister, the amount […]
Nigeria’s financing agency partners Smarter Grid Int. on renewable energy
Businessam StaffMay 27, 2018
The National Cooperative Financing Agency of Nigeria (CFAN) Sunday in Abuja entered into a partnership with Smarter Grid International to ensure inclusive growth and development of its members across the country. Emmanuel Atama, executive secretary of CFAN, said the partnership would help provide members with a steady power supply to do their businesses and also […]
Nigeria’s presidency confirms receipt of N9.12trn 2018 budget for approval
Businessam StaffMay 26, 2018
Ita Enang, the senior special assistant to the Nigeria president on National Assembly Matters, Friday confirmed receipt of the 2018 Appropriation Bill passed by the National Assembly (NASS). NASS sent the 2018 budget proposal to President Muhammadu Buhari week after the lawmakers approved the country’s biggest yet spending plan of N9.1 trillion ($25 billion). Enang, […]
Oil prices slump as OPEC, Russia plan output boost
Businessam StaffMay 25, 2018
Oil prices fell more than $2 per barrel Friday as Saudi Arabia and Russia discussed easing production cuts that have helped push crude prices to their highest since 2014. Brent crude futures fell $2.35, or 3 percent, to settle at $76.44 a barrel. The global benchmark lost about 2.7 percent this week, its largest weekly […]