OPEC+ resumes debate on Tuesday after talks stumbled over February policy, as Russia led calls for higher output while others suggested holding or even cutting production due to new lockdowns. Debate resumes at 1430 GMT after the group, which combines OPEC and other producers including Russia, failed to find a compromise on Monday. OPEC+ sources Read More…
The Nigerian Stock Exchange (NSE) resumed trading in 2021 on a bullish trend with the All-Share Index surpassing the 41,000 mark, as investors continued to position ahead of full year results and dividiend declaration. Specifically, the All-Share Index inched higher by 876.67 points or 2.18 per cent to close at 41,147.39 from 40,270.72 achieved on Read More…
The Organisation of the Petroleum Exporting Countries (OPEC) sees plenty of downside risks for oil markets in the first half of 2021, Mohammad Barkindo, its Secretary-General said on Sunday. Barkindo’s remark is coming a day before meeting allies, led by Russia, to discuss output levels for February. “Amid the hopeful signs, the outlook for the Read More…
Mrs Nneka Onyeali-Ikpe, has formally assumed office as the 4th Managing Director and Chief Executive Officer and first female to occupy the position at Fidelity Bank Plc, effective on Jan. 1. The bank in a statement disclosed that Onyeali-Ikpe took over from Mr Nnamdi Okonkwo, whose contract tenure ended on Dec. 31, 2020, in line Read More…
African Union (AU) Chairperson Cyril Ramaphosa and Ethiopian Prime Minister Abiy Ahmed have congratulated Africans for starting trading under the African Continental Free Trade Area (AfCFTA). Abiy tweeted: “Congratulations to our continent for the beginning of trading under AfCTA. The new frontier for Africa is indeed regional integration, where minds are open to ideas and Read More…
The African Continental Free Trade Area (AfCFTA) agreement comes into effect on January 1, 2021, but Zambia is one of the 21 countries that have not yet deposited their instruments of ratification. Zambia’s Minister of Commerce, Trade and Industry, Christopher Yaluma, disclosed at a media briefing in Lusaka on Thursday that the official launch of Read More…
The Tony Elumelu Foundation (TEF), on Friday in Lagos unveiled the TEF Entrepreneurship programme for 2021, to empower women and men across the African continent. The Chief Executive Officer of TEF, Mrs Ifeyinwa Ugochukwu, disclosed this during an Online news briefing with Journalists across Africa. She said: ” I want to welcome all of you Read More…
The Lagos State House of Assembly on Tuesday passed the 2021 Appropriation Bill of N1.163 trillion, seven weeks after the budget was presented to the Assembly by Gov. Babajide Sanwo-Olu. The House passed the budget after the report of the appropriation was presented during plenary by the Chairman, Joint Committee on Economic Planning and Budget Read More…
Like many governments, the Nigerian government has identified industrialisation as the tool to generate tangible nonoil revenue, increase employment opportunities, and contribute maximally to GDP. As part of government’s efforts at engendering sustainable economic recovery, some fiscal and monetary policies were rolled out, particularly to benefit Micro, Small and Medium Enterprises. In spite of the Read More…
The Nigerian Stock Exchange reopened trading on Tuesday after the holidays to mark Christmas and Boxing Day celebrations with the All-Share Index crossing 39,000 mark. Specifically, the All-Share Index which opened at 38,800.01 inched higher by 310.16 points or 0.80 per cent to close at 39,110.17. Also, the market capitalisation rose by N167 billion to Read More…