Lagos-Calabar Highway Project: FG begins Compensation Payment The Federal Government has disbursed N2.75 billion for the first phase of the compensation payouts and unveiled the new design routes for the Lagos-Calabar Coastal Highway project. The Minister of Works, Sen. Dave Umahi, made the announcement at the commencement of payouts to property owners affected by the […]

StanChart Bank Nigeria Names Dalu Ajene New CEO Standard Chartered Bank, StanChart, has appointed Mr. Dalu Ajene as the new chief executive officer (CEO) of Nigeria operations. Ajene takes over from Lamin Manjang, the vice chairman Africa and Acting CEO who will be retiring from the bank after 25 years of service, having reached the […]

Oil Prices Dip on Expected Demand Slowdown Crude oil prices declined on expected demand slowdown in the United States with growing hopes for a cease-fire agreement between Israel and Hama. International benchmark Brent crude traded at $85.28 per barrel at 10.45 a.m. local time (0745GMT), down 1.22% from the closing price of $86.33 per barrel […]

Report on Foreign Portfolio Holdings of U.S. Securities WASHINGTON – The final results from the annual survey of foreign portfolio holdings of U.S. securities at the end of June 2023 were released today on the Treasury website. the value of foreign portfolio holdings of U.S. securities as of June 30, 2023 was $26,872 billion, with […]

Tinubu Assures Workers of Better Days President Bola Tinubu has assured the Nigerian workers that their days of worrying are over. Tinubu, represented by Vice-President Kashim Shettima, gave the assurance while delivering his speech at the 2024 May Day celebration, held on Wednesday, at the Eagle Square, Abuja. He appealed to trade unions to continue […]

Rates: US Fed Decision to Put Pressure on EM Central Banks Emerging-market central banks are increasingly under pressure to hike rates as the Federal Reserve is poised to maintain US rates at a two-decade high at its sixth consecutive meeting on Wednesday – and this has significant implications for investors around the world, affecting various […]

Supply Chain Drives Global M&A Deal in Q1 2024 – GlobalData Despite the impact of high-interest rates and low growth across all the major economies, the total deal value of mergers and acquisitions (M&A) increased by 38% in the first quarter of 2024 compared to the same quarter in 2023. The supply chain has emerged […]

Electricity: NLC, TUC Condemn Higher Tariff for non-existent Electricity The  Nigerian Labour Congress (NLC) and the Trade Union Congress (TUC),  have appealed to the  Nigerian Electricity Regulatory Commission (NERC) and Power Sector operators, to reverse the  increase in electricity tariff within  one week. President of  the  unions, Mr Joe Ajaero and Mr Fetus Osifo made […]

Equities Investors Gain N149bn as NGX Rebounds Equities investors gained N149 billion on Tuesday following buying interest witnessed on the floor of the Nigerian Exchange. The market halted downward trend amidst first quarter of 2024 earnings release. According to information from the local bourse, the market performance indicators grew by +0.27%. This caused year to […]

Divestments: Shell Assets Estimated at 4.96 Billion Barrels Oil Reserve – NUPRC The Nigerian Upstream Petroleum Regulatory Commission (NUPRC) says the Shell Petroleum Development Company of Nigeria Limited (SPDC) assets being considered for divestments have an estimated reserve of 4.96 billion barrels of oil The Commission Chief Executive of NUPRC, Mr Gbenga Komolafe disclosed this […]