NPA chief seeks to decongest Lagos through increased usage of eastern ports

Ajose SehindemiMarch 24, 2018

Hadiza Bala-Usman, managing director, Nigerian Port Authority (NPA) has appealed to importers and exporters to patronise ports in the Eastern parts of the country to decongest Lagos ports. Bala Usman made the appeal at the NPA Special Day at the ongoing 29th Enugu International Trade Fair in Enugu on Saturday, saying patronising the Eastern ports […]

Afreximbank targets 500 banks in push for $25bn funding of African trade

Businessam StaffMarch 24, 2018

The African Export-Import Bank (Afreximbank) is continuing its push to make $25 billion in credit lines available to 500 banks across the continent that would help to facilitate intra-African trade. Already, it has opened credit lines amounting to $800 million to 55 banks across Africa in line with this objective. Benedict Oramah, the bank’s president, disclosed this at the […]

Oil prices hit $70 a barrel as risk to Iran nuclear deal mounts

Businessam StaffMarch 23, 2018

Brent crude Friday consolidated its fourth consecutive weekly gain, hitting $70 a barrel as heightened geopolitical tension coincides with signs that global producers would continue supply curbs into 2019. This is according to a Financial Times report monitored by businessamlive. The report said analysts are also seeing Trump’s appointment of hardliner John Bolton as security […]

Nigeria’s VP agrees with Bill Gates on pro-people investments for economy development

Businessam StaffMarch 23, 2018

Yemi Osinbajo, Nigeria’s Vice President has agreed with Bill Gates, Microsoft founder, that the success of Nigeria’s efforts at the national development will depend on the determined application of human skills and efforts from people who are healthy, educated and empowered. Yemi Osinbajo said this while responding to Gate’s comments about the Nigerian government’s economy […]

Cryptocurrency trading needs stock market principles for improvement- U.S. SEC

Businessam StaffMarch 23, 2018

The cryptocurrency trading marketplace could be improved by applying some of the principles from the stock market such as best execution and surveillance, a senior U.S. Securities and Exchange Commission official said on Thursday. While the cryptocurrency market is still evolving, it resembles a sort of “Wild West,” said Brett Redfearn, who heads SEC’s trading […]

Global carbon emissions hit record high 1.4% on growing energy demand

Goddey OdinMarch 22, 2018

Global energy-related carbon emissions rose in 2017 for the first time in three years, the International Energy Agency said Thursday, proof that the world’s efforts to fight climate change are falling short. Global energy demand rose by 2.1 percent last year to 14,050 million tonnes of oil equivalent, more than twice the previous year’s rate, […]

Unilever’s drives backward integration in partnership with Nigerian farmers

Businessam StaffMarch 22, 2018

Unilever Nigeria Plc said it would support the Nigerian government’s backward integration policy with its “Partner to Win” initiative to help grow the economy through deepening of the quality of local products in the country. The Partner to Win initiative is to grow capabilities of intermediary companies to enable them convert farm produce to usable […]

Wheat rises 0.6% after suffering rain depression

Businessam StaffMarch 22, 2018

Wheat

After suffering depression from rain earlier in the week, wheat made a 0.6 percent rise at $4.68 a bushel, rising above its 100-day moving average, under $4.66 a bushel. Chicago soft red winter wheat, as grown in the American Midwest, added 0.5 percent to $4.55 a bushel, seeing its discount rise anew marginally. Further rain […]