Author: Olu Anisere

NLNG, NCDMB launch ICT Hub to Boost Tech Skills in Nigeria Nigeria LNG and the Nigerian Content Development and Monitoring Board (NCDMB) have inaugurated an ultra-modern, specialised Information and Communication Technology (ICT) centre in Port Harcourt, Rivers for youth empowerment in innovations. The fully equipped ICT centre, located at Baptist High School in the city, was inaugurated as part of the close-out ceremony for the Human Capital Development Basic Training Programme. Mr Felix Ogbe, Executive Secretary, NCDMB made the remark in a statement issued on Friday by Mrs Anne-Marie Palmer-Ikuku, Manager of Corporate Communication and Public Affairs at NLNG in…

Euro Hovers at $1.16 as France Drags Eurozone PMI The euro hovered around $1.16 as investors digested flash Eurozone purchasing manager index data and awaited delayed US inflation figures due later Friday. Eurozone business activity accelerated in October, with the PMI Composite rising to a 17-month high of 52.2 from 51.2, signaling the strongest expansion since mid-2024. The pickup was driven by services, where the PMI Services index jumped from 51.3 to 52.6, a 14-month high, while manufacturing finally edged up to the neutral 50.0 mark after months of contraction. However, the upturn remains uneven across major economies. Cyrus de…

Airtel Africa Price Unchanged, Telco Repurchases Own Shares Airtel Africa Plc’s market value remained unchanged in the Nigerian Exchange (NGX) as the telecom company continues to repurchase its own shares from the London Stock Exchange (LSE) trading platform. The telco stock miss in action in the Nigerian market due to tight, and perhaps small shareholding after its successfully buyback its shares in the local bourse. For months, the telecom company share price has rested at N2310.50. Airtel Africa has low trading volue on its 3.758 billion shares outstanding in the Nigerian market. Airtel Africa Plc announced the purchase of 25,000…

IOM, BOA Sign $200m Pact to Support Migrants, Displaced Nigerians The International Organisation for Migration (IOM) and the Bank of Agriculture Ltd. (BOA) of Nigeria have signed an agreement to strengthen access to sustainable livelihoods for migrants and displaced persons across Nigeria. In a statement on Thursday, IOM said the Memorandum of Understanding (MoU) is focused on addressing displacement, food insecurity and rural poverty. IOM also said that the MoU would also focus on empowering vulnerable populations to lead their own recovery through sustainable livelihood support. The signing of the MoU comes at a time when Nigeria is intensifying efforts…

EFCC Recovers ₦566bn, $411m, 1,502 Assets in 2-Year The Economic and Financial Crimes Commission (EFCC) has recovered over ₦566 billion, 411 million dollars, and 1,502 properties in the last two years under the leadership of its chairman, Ola Olukoyede. The EFCC boss, represented by Wilson Uwujaren, the Director of Public Affairs, made the disclosure in Abuja on Thursday, at a press conference marking his second anniversary in office. Olukoyede, who was appointed on Oct. 18, 2023, and confirmed by the Senate the following day, said the commission had made “unprecedented progress” in its fight against economic and financial crimes across…

Oil Prices Surge as US Hits Russia with News Sanctions In the global commodity market, oil prices surged over 2% during early trading hours on Thursday amid mounting supply concerns following US sanctions on Russia’s two largest oil companies, Rosneft and Lukoil. Brent crude was trading at $64.29 per barrel, up 2.12% from the previous close of $62.95. US benchmark West Texas Intermediate (WTI) also rose 2.3% to $60.53, compared to $59.15 in the prior session. US included Rosneft, Lukoil, and dozens of their affiliates on its sanctions list, citing “a serious lack of commitment” by Moscow to advancing peace…

Money Market Rates Ease as Financial System Liquidity Climbs Money market rates eased as excess liquidity in the banking system increased amidst the Nigerian Treasury bills auction. The authority conducted a primary market auction where N650 billion worth of Treasury bills was floated for investors’ subscription. At the auction, the CBN placed an offer size of N650 billion on the table, but demand came at N750 billion, significantly lower than past auctions—suggesting weak appetite for the naira assets. Banks played soft as the SDF rate of 24.5% stayed ahead of the average yield on Nigerian Treasury bills papers. though liquidity…

Lafarge Africa Grows Profit by 246%, Retains Positive Outlook Lafarge Africa Plc grew profit after tax by 246% year on year to N207.780 billion, according to an unaudited financial statement for 9 months filed on the Nigerian Exchange by the cement company. The cement company posted a strong bottom line as net sales expanded by 68% year on year to N780.496 billion versus N479.496 billion posted in the equivalent period in 2024.  The company attributed net sales growth to uptick in cement volumes and improved plant reliability. Q3 revenue expanded by 43.3% year on year reflecting growth across all major…

Malawi Bans Export of Raw Materials in Mining Industry Malawi has banned the export of raw minerals in the mining sector, saying the country stands to earn up to 500 million dollars a year. The country said this can be attained if mining of rutile at Kasiya site in Lilongwe and rare earths at Kangankunde in Balaka are managed properly. President Peter Mutharika announced the ban on Wednesday, on the sidelines of the swearing-in ceremony of Second Vice President Enock Chihana, Minister of Agriculture, Irrigation, and Water Development Roza Mbilizi, and Minister of Industrialisation, Business, Trade and Tourism George Partridge.…

Dangote Cement Crosses N10trn, Trades Below Analysts Target Price Signalling a speedy recovery from its downturn, Dangote Cement’s share price settled at N600 ahead of the third quarter of 2025 earnings release. The price level pushed the cement company market value above N10 trillion ahead of the third quarter earnings release. In separate earnings projections, a slew of equities analysts across Broadstreet anticipate the cement company to deliver an impressive performance as the industry appears to have left the wood. Improved macroeconomic conditions and the cement company’s ability to transfer costs to customers aided industrial sector players’ quick recovery. Cement…