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LEAD STORIES

Naira weakens as BDCs fund account Friday

Nigeria’s currency reversed Thursday's gain as it weakened by N1.50k, exchanging with the dollar at an average rate of N465 on Friday, from N463.50k traded on the previous day on the black market. The foreign exchange market has witnessed dollar…

Today's E-paper

Businessday Investigates

Covid-19 adds to misery of homeless Nigerians in Lagos

IBRAHIM ADEYEMI spent three nights with some homeless Nigerians in Lagos, to have a front-row…

Short Takes

Nigeria’s biggest beer makers record first loss in 7 years

Nigeria’s biggest beer makers posted their first combined loss in seven years in…

Here’re 5 issues Nigeria must pay urgent attention to avoid increasing poor population

With an economic growth that is too slow to create sufficient opportunities for…

Why financial literacy needs to be expanded in Nigeria

Many Nigerians who keep savings accounts do not have adequate knowledge on the…

COVID-19: Edo govt directs civil servants to resume work Monday

The Edo State Government has directed civil servants from grade level 01-10 to resume work in their respective…

Nigeria not flattening COVID-19 curve as testing drops by 36% – NCDC

The Nigeria Centre for Disease Control (NCDC) has insisted the country is not yet flattening the COVID-19 curve,…

COVID-19: Lagos decentralises sample collection

As part of measures to further contain the spread of the deadly coronavirus (Covid-19) disease, Lagos State…

CACOVID urges halt to community spread of COVID-19 to restore economy

The private sector-led Coalition Against Covid-19 (CACOVID) has said that stopping the community spread of…

REST OF AFRICA

Nigeria, Congo are among worst hotspots for hunger – Bloomberg

The Democratic Republic of Congo and the continent’s giant, Nigeria are emerging as countries with the world’s…

Exporters explore sea option to reach West, Central African market

Nigerian non-oil exporters are tapping sea transport to reach the neighbouring west and central African markets as…

How have major African currencies performed this year?

Africa’s top currencies have been hit greatly this year as a result of the coronavirus pandemic, but the Egyptian…

Ghana’s treatment of Nigerian traders raises red flag ahead AfCFTA

The recent closure of shops belonging to Nigerian traders in Ghana highlights major hurdles to cross ahead of the…

COLUMNISTS

PREMIUM

Start-Up Journal

SunTrust walks lending talk as 6 SMEs get 46m each

SunTrust Bank is walking its talk of increasing lending towards Nigeria’s budding entrepreneurship projects with…

Meet Evelyn Aylor, entrepreneur simplifying baby-care for mothers

Evelyn Aylor is the founder of Pritty Little Packages, an online firm that teaches mothers useful hacks and tricks…

Survival of MSMEs imperative for economic rebound post-COVID-19 pandemic,…

Amid the COVID-19 pandemic that has battered the Nigerian economy, experts have called on the government to provide…

Oshiobugie: OAP who quit paid employment to start cheap school for orphans

One of the hallmarks of great entrepreneurs is their ability to sustain their vision and remain resolute even in…

Sponsored

Huawei Connect 2020

Technologies like cloud, AI, and 5G are giving new momentum to digital and intelligent transformation, triggering…

Huawei Rack Servers Rank Third in Global Shipments

The 2019 Gartner report on the global server market has recently confirmed Huawei’s growing market strength.…

Why Samsung Wants to Destroy LADOL

Response to the Advert – Titled:- “True position on investment in Nigeria and challenges faced from LADOL” issued…

Grenadines Homes presents ‘Skyvilla’

Working on the vision to become ‘the most preferred real estate brand’ in Africa, Grenadines Homes has launched…

Top Videos

Become a Millionaire with Gold ETF in Nigeria

In the first episode of the Ultimate Money Show, Business Day’s Lolade Akinmurele talks about the investment…

Women’s Hub celebrates role in Nigeria’s Development

NOMINATE YOUR WOMEN CHAMPIONS In celebration of Nigeria’s 60th independence, BusinessDay’s WOMEN’S HUB presents…

CBN gives official nod to telecom operators to offer mobile money service

West Africa's most authoritative business daily, a diversified provider of superior business, financial and…

Interview: Nigeria’s Finance minister on Finance Act, Privatisation…

BusinessDay’s senior analyst, Lolade Akinmurele, recently interviewed the minister for finance, budget and national…

Wealth And Investing

MRS shares unchanged despite positive profit forecast for Q4 2020

Shares of MRS Oil Nigeria plc remained unchanged after the downstream oil firm projected a profit after tax of N775 million in the last quarter of 2020, a 234 percent jump from the N575 million loss…

Cartoon of the day

Women in Business

Women In Business: Pearlena Igbokwe

Pearlena Igbokwe is the Chairman of Universal Studio Group, a division of NBC Universal. She is responsible for all…

Women In Business: Simi Fajemirokun

Simi Fajemirokun is a distinguished visionary offering a diverse career in driving significant and profitable…

TIMIPRE WOLO, leading honourable initiatives in the Niger-delta, tackling…

Timipre Wolo is the visionary and CEO of TFN Energy Limited, an indigenous new entrant into the Nigerian energy…

First Lady Of Niger State, AMINA ABUBAKAR BELLO, empowering women, solving…

Childhood Memories I had an average childhood. I have a very large extended family and growing up, we had a lot…

Interview

Nigeria’s food refrigeration industry is big, yet untapped – G.M. Cooling…

Nigeria’s food waste amounts to over N12 billion annually, yet the country is in search of food to feed its 200…

‘Real estate is our oil in Lagos; we are conforming to global best…

In the quest and vision of the current Governor of Lagos State, Babajide Olusola Sanwo-Olu in making Lagos a 21st…

Why Suleiman Hussein Adamu, Water Resources Minister, feels Nigerians…

On the face of it, there’s water everywhere. Indeed, water is often likened to the free air that we breathe. Like…

Companies

Inner Galaxy: Abia committee says allegations grossly exaggerated

Allegations of sexual harassment, bad working conditions, and physical assault on workers, leveled against Inner…

Flour Mills appoints Anammah as board member

Flour Mills of Nigeria (FMN), Nigeria’s largest miller with 32 percent market share, has appointed Juliet Anammah…

International Breweries confirms Whiting as non-executive director

International Breweries Plc, the third largest brewer in Nigeria with a market share of 16 percent, has announced…

Financial Times

Thailand: youthful protesters break the kingdom’s biggest political taboo

As darkness fell on August 10, a 21-yearold student stood in front of a crowd of up to 10,000 pro-democracy…

Trump says Biden would bring chaos and socialism to America

Donald Trump said Joe Biden would bring chaos to US cities and spread socialism across the nation, as he used his…

Shinzo Abe to step down as Japanese prime minister

Shinzo Abe will stand down as prime minister of Japan on Friday evening because of a worsening medical condition,…

Economy

Controversy rages over derivation payment in Akwa Ibom

A controversy is raging over the payment of the 13 percent derivation fund which Akwa Ibom State said had been…

Nigeria’s high system liquidity pushes investors to ignore 13.2% inflation…

More than N45 billion worth of unsuccessful transactions were recorded at the Nigerian Treasury Bills (T-Bills)…

Has Nigeria’s 2015 FX ban on imports worked?

It’s been five years since Nigeria resorted to restricting some food items from accessing foreign exchange to boost…

Energy

Shell reaffirms commitment to 300mscfgpd gas project in Imo

Hope rose in parts of Rivers and Imo States over the success of the multi-billion dollar domestic gas project in…

Imo-based 50,000bpd modular refinery to begin operations October

A 50,000 barrels per day modular refinery located in a part of Imo State, South-East Nigeria, is set to begin…

Nigeria to host World Energy Forum in 2021

Nigeria has been scheduled to host next year's editions of World Energy Forum conference. This was revealed during…

Politics

How visa ban on politicians will aid Nigeria’s democracy – Analysts

The recent visa ban on some Nigerian politicians by the United States, if vigorously implemented, will help in…

Edo 2020: PDP protests clampdown on its governors by security agents

The Peoples Democratic Party (PDP) has protested the clampdown on its governors by security agents in Benin City,…

Edo: Beyond tough talk by INEC, police, et al

A lot has been said and written on the off-season Edo gubernatorial election slated for tomorrow, Saturday,…

Obaseki assures of peaceful poll, charges Edo electorate to vote candidates…

The Edo State governor, Godwin Obaseki, has charged the electorate in the state to troop out and vote their…

Markets

Nigeria’s stock market records mixed trading sessions of profit taking,…

With barging hunting activities in two sessions and profit taking in others, Nigeria’s stock market saw a week of…

Naira weakens as BDCs fund account Friday

Nigeria’s currency reversed Thursday's gain as it weakened by N1.50k, exchanging with the dollar at an average rate…

Naira gains N2.50k as dollar liquidity improves

Nigeria’s currency gained N2.50k as the dollar traded at an average rate of N463.50k on Thursday from N466 on…

Nigeria’s stock investors lose N8bn as market falls further

The stock market of Africa's largest economy failed to close in green on Thursday September 17 as the benchmark…

Technology

Facebook to open Lagos office in 2021

Facebook, today (Friday 18th of September, 2020), announced that it will be opening an office in Lagos, Nigeria -…

Facebook finalises cable to Africa with 7 investors

Facebook said it plans to open an office in Lagos, Nigeria, the second in Africa as part of its ongoing investment…

NCC, Telcos agree to revisit compensation policy for subscribers

The Nigerian Communications Commission, NCC, and Senior Executives of telecommunication companies have agreed to…

Crypto players adopt sit-down-look on Nigerian SEC’s regulatory…

The buzz around the regulatory document on crypto assets released by the Securities and Exchange Commission (SEC)…

Life and Culture

Fashion enthusiast, Noble Igwe, seals ambassadorial deal with ‘Wear It All…

Popular fashion enthusiast, Noble Igwe, has clinched yet another ambassadorial deal with a leading fashion brand in…

Nollywood remake of Tunde Leye’s ‘Finding Hubby’ hits cinemas soon

The Nollywood remake of Tunde Leye’s viral story ‘Finding Hubby’ is set to hit the cinemas in November, the movie…

AAToy unveils online store in move to enhance consumers’ experience

AAToy Shop, a Nigerian-based retail shop for toys has opened an online store designed to boost its business in…

Irefin Palace in Ibadan to rival Buckingham Palace says Oyo Govt

Oyo State government says the historical Irefin Palace in Ibadan has been positioned to rival the Buckingham Palace…

Market Intelligence

How IDSL is spearheading NNPC’S moves for $10 oil production cost

For Integrated Data Services Limited (IDSL), a subsidiary of the Nigerian National Petroleum Corporation (NNPC),…

Zenith Bank consolidates earnings and profitability amid Covid-19 shock

Zenith Bank Nigeria Plc gives more money to investors in form of dividend than its peers in Emerging and Frontier…

Sanusi and Soludo were superior managers of Nigeria’s exchange rate

If you were to guess the one economic problem that every Nigerian and business has struggled with regardless of…

Sterling Bank strengthens financial position as asset quality improves amid…

The financial position of Sterling Bank Nigeria Plc has strengthened as asset quality improved (NPLS) even amid the…

Backpage

When will Nigeria fix age-old problems hurting industrial prosperity?

It is a crying shame that some of the issues hurting Nigeria’s industrial prosperity in 1980s and 1990s are still…

FX scarcity: Time to promote non-oil exports 

The Central Bank of Nigeria (CBN) is investing efforts in managing Nigeria’s foreign exchange (FX) crisis to…

Industrialisation: Lessons from India’s model

Nigeria must begin to mimic worthy examples to exit high poverty rate and become an industrialised nation. One of…

Is the coup making a comeback in Africa?

The coup is back in Africa. Last week, soldiers in Mali overthrew the unpopular president, Ibrahim Boubacar Keita,…

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Today's E-paper

Columnists

Businessday Investigates

Covid-19 adds to misery of homeless Nigerians in Lagos

IBRAHIM ADEYEMI spent three nights with some homeless Nigerians in Lagos, to have a front-row experience of how…

Premium

Sponsored

Huawei Connect 2020

Technologies like cloud, AI, and 5G are giving new momentum to digital and intelligent transformation, triggering…

Podcast

Women In Business

Women In Business: Pearlena Igbokwe

Pearlena Igbokwe is the Chairman of Universal Studio Group, a division of NBC Universal. She is responsible for all…

Magazines

Backpage

When will Nigeria fix age-old problems hurting industrial prosperity?

It is a crying shame that some of the issues hurting Nigeria’s industrial prosperity in 1980s and 1990s are still…

More Stories

Facebook finalises cable to Africa with 7 investors

Facebook said it plans to open an office in Lagos, Nigeria, the second in Africa as part of its ongoing investment…

Edo 2020: PDP protests clampdown on its governors by security agents

The Peoples Democratic Party (PDP) has protested the clampdown on its governors by security agents in Benin City,…

Osinbajo inaugurates Eko fashion cluster for MSMEs

Vice President Yemi Osinbajo on Friday performed the virtual inauguration of the Fashion Cluster Shared Facility…

Review sections of CAMA 2020 that conflict with Finance Act, FG urged

Nigeria’s new Companies and Allied Matters Act 2020 has the potential of bringing the country’s business…

UNILAG crisis: Adaralegbe, another governing council member, resigns

Following Thursday’s unexpected resignation of Wale Babalakin, a senior advocate of Nigeria, as pro-chancellor and…

Hamzat hosts XHS team, lauds firm’s contribution to education in Lagos

Obafemi Hamzat, deputy governor of Lagos State, has expressed appreciation to the management of XHS Nigeria Limited…