Business

The naira exchanged for N744.97 to the dollar at the Investors and Exporters window on Tuesday. The local currency gained 0.39 percent compared to the N747.87 it exchanged for the dollar on Monday. The open indicative rate closed at N774.99 to the dollar today. A spot exchange rate of N799.83 to the dollar was the highest rate recorded during the …

Mortgages play a pivotal role in the real estate sector, allowing individuals and families to own homes without the need for substantial upfront payments. In Nigeria, as in many countries, mortgages are a common means of financing homeownership. This article aims to provide a comprehensive overview of how mortgages work in Nigeria, covering the key aspects, processes, and considerations. 1. …

The Nigeria Sovereign Investment Authority (NSIA) at the weekend launched a $500 million Renewables Investment Platform for Limitless Energy (RIPLE) in a bid to develop renewable energy projects across the country The launch of RIPLE coincided with the signing of a strategic partnership agreement between the organisation and the International Finance Corporation (IFC). The Managing Director of the NSIA, Mr. …

Hello, and welcome to Business Roundup this week. Here, we bring you highlights of events that happened during the week —from the capital market to the mainstream business activities, while not forgetting the tech/economy build up. Here are the Headlines: • Nigeria displaces Libya and Angola as Africa’s top oil producer• Nigerians to pay more on network tariff• Union Bank’s …

First Bank of Nigeria Limited, Nigeria’s premier and leading financial services provider, has announced the graduation of 20 successful participants in the fourth edition of its Senior Management Development Programme (SMDP). Before the 2023 graduation, the SMDP had produced 52 graduates. The Bank successfully graduated 23 participants in its inaugural edition, held in 2018; 17 in 2019 and 12 in  …

The Manufacturers Association of Nigeria through its Export Promotion Group, has trained Nigerians exporters on how to harness potential in the African Continental Free Trade Area. It built the capacity during a two-day training themed, ‘Exporting under the AfCFTA’, in Lagos, which was organised in collaboration with the secretariat of the National Action Committee on African Continental Free Trade MANEG’s …

The Group Chief Executive, Oando Plc, Wale Tinubu, said the acquisition of Nigerian Agip Oil Company Limited (NAOC Ltd) from ENI shows the importance of local investors. Tinubu said indigenous investors will play a vital role in the future of the Nigerian upstream sector, a statement obtained on Tuesday from the Nigerian Exchange Limited (NGX) said. He noted that the …

Nigerian shareholders in PZ Cussons Nigeria have been offered a buyout offer by British manufacturer, PZ Cussons Group, to take full control of the local company. The international company is willing to buy the shares owned by the Nigerian shareholders at N21 per share, subject to shareholders’ approval at a Federal High Court-ordered meeting and regulatory consent. The UK healthcare …

There are fears that the prices of fuel products may increase as irregular foreign exchange rate fluctuations, has left many petroleum product depots vacant. Consequently, oil marketers, on Thursday, expressed worries, stressing that the rise in the landing price of Premium Motor Spirit, more commonly known as petrol, mags risen to N720 per litre. The National President of Natural Oil …

The Managing Director/Chief Executive, Nigeria Deposit Insurance Corporation (NDIC), Mr Bello Hassan, stated on Thursday that Nigerian depositors are the top priority of the organisation. He added that “And our foundation is built on ensuring the safety and security of their deposits. This ideal is encapsulated in our strap line; “Protecting your bank deposits!”. Bello made this Known at NDIC’S …