The Debt Management Office (DMO) of the Presidency has announced the listing of N130 billion sovereign sukuk on the Nigerian Exchange and FMDQ starting on August 8, 2023. This was disclosed in a statement from the debt management office. The listing of this security follows the successful oversubscription of the N100 billion opened in November 2022. This current listing is geared towards accommodating the needs of investors towards the facility. According to the statement, “The sovereign sukuk was opened for subscription in November 2022, with an initial of N100 billion however, it garnered immense interest from investors with a remarkable subscription…
Author: Elvis Eromosele
The nation’s pension fund assets rose significantly, in the first half of 2023, precisely, by N1.7 trillion from N14.99 trillion in December 2022 to N16.76 trillion at the end of June 2023. This is even as 146,920 new pension contributors joined the scheme in the first half of 2023. Aisha Dahir-Umar, Director General, National Pension Commission(PenCom), made the disclosure at the 2023 Journalists’ Conference, in Lagos Thursday. Dahir-Umar, who was represented by the head, Corporate Communications of the commission, Abdulqadir Dahiru, noted that pension fund membership had also increased by 146,920 new contributors, from 9.86 million members as of the…
Elvis Eromosele In today’s fast-paced world, consumers are the driving force behind any successful business. They invest their hard-earned money in goods and services with the expectation of a satisfactory experience. However, not all brands live up to their promises, leaving consumers disappointed and disheartened. Addressing this issue, BrandXchange, an innovative platform, has taken the bold step of empowering Nigerian consumers to give feedback on brands across various categories. Through their Consumer Value Awards (CVA) program, consumers now have a voice in determining the value of brands in 2023. BrandXchange’s initiative seeks, in the short term, to protect consumers and…
Following their progression to the round of 16 at the ongoing Women’s World Cup in Australia and New Zealand on Monday, the entire 23-woman Super Falcons squad are guaranteed $1,380,000 (N1,062,600,000, as at Monday’s exchange rate) as prize money from world body FIFA for the biggest edition of the tournament. The Nigerians booked their spot in the round of 16 of the competition for the third time in nine appearances after a goalless draw against the Republic of Ireland in their last group game on Monday to place second behind co-hosts Australia in Group B. Randy Waldrum’s ladies finished with…
The Business Journal weekly online newspaper will commence publication from Monday, August 7, 2023. The weekly online newspaper will complement the existing Business Journal daily digital platform and the Business Journal monthly magazine in a move designed to have the Business Journal Media Group operating effectively in three (3) media formats: Daily-Weekly-Monthly! The weekly online newspaper will focus on key sectors of the Nigerian economy such as Banking & Finance, Energy (Oil & Gas, Power), Insurance & Pension, Telecom & IT, Capital Market, Maritime, Literature, Sports Business, HealthCare, AgriBusiness, Manufacturing, Politics & Policy, Small Business (MSMEs), Travel & Tourism, The…
By Elvis Eromosele In today’s interconnected and competitive global landscape, effective Public Relations (PR) has emerged as a powerful tool in shaping the perception of nations and their economies. In the context of Nigeria, a vibrant and resource-rich nation with immense potential, PR practitioners have a unique opportunity to make a significant contribution to its economic growth and development. By strategically crafting and disseminating messages that highlight Nigeria’s strengths, address challenges, and promote investment opportunities, PR professionals can foster a positive environment conducive to sustainable economic growth. Nigeria, the most populous country in Africa, is endowed with vast natural resources,…
MTN Nigeria has reported that the naira devaluation also impeded the company’s financial growth in the second quarter of 2023. In a comment included in its second quarter of the financial statement released on Friday, MTN Nigeria disclosed it recorded an unrealised forex loss of N131.5 billion. This increased by N117.9 billion or 866.9 per cent compared to the N13.6 billion forex loss reported in the first half of 2022. “Net finance costs increased by 164.3 per cent due to increased borrowings and an unrealised forex loss of N131.5 billion (H1 2022: N13.6 billion) on our net foreign currency liabilities following…
John James, Chairperson and ranking member of the United States House of Representatives and Foreign Affairs Committee on Africa, has said there is currently a $90 billion infrastructural gap that investors can effectively tap into in Africa. Speaking further, he said agriculture and Pharmaceuticals are the most important areas that Nigeria must look into to transform its fortune significantly. Speaking, yesterday, at the ongoing Foreign Press Centre (FPC) press reporting tour for select African journalists including The Guardian in Capitol Hill, Washington D.C. he said the U.S. is committed to increasing their relationship and engagement with all the African nations.…
The World Health Organisation (WHO) has called for scaling up of testing and treatment for viral hepatitis, warning that the disease could kill more people than malaria, tuberculosis, and HIV combined by 2040, if current infection trends continue. Hepatitis causes liver damage and cancer and kills over a million people annually. Of the five types of hepatitis infections, hepatitis B and C cause most of the disease and deaths. Hepatitis C can be cured; however, only 21 per cent of people living with hepatitis C infection are diagnosed and only 13 per cent have received curative treatment. Just 10 percent…
Stakeholders and subject matter experts alike agree that an increased focus on Science, Technology, Engineering, and Mathematics (STEM) education is essential for economic development. This four-pronged knowledge-based framework has inspired countries around the world to ramp up efforts in STEM research to find innovative solutions to critical economic challenges in areas such as health, food production, infrastructure, the environment, and manufacturing. Africa is no exception. Despite the continent lagging behind its global peers in STEM education, there is a growing recognition of the importance of STEM for Africa’s economic development and prosperity. In recent years, there has been a surge…