Business News

President Muhammadu Buhari has approved the appointment of Aminu Umar-Sadiq as the managing director and chief executive officer (MD/CEO) of the Nigeria Sovereign Investment Authority (NSIA). The president also appointed Kolawole Owodunni and Bisi Makoju as executive directors. The appointment of the new MD/CEO follows the expiration of the tenure of Uche Orji, whose tenure expired on September 30, 2022, after serving two five-year terms following his appointment on October 2, 2012. Yunusa Tanko Abdullahi, special adviser, media & communications to the finance minister, said this in a statement made available to TheCable on Monday. The NSIA (Establishment) Act 2011…
One of the most underdiscussed challenges in entrepreneurship is the importance of effective communication – not just with your team, but with your investors, board members, vendors and partners. I can't remember who said this to me originally, but it's a phrase I say to myself often: "In the absence of information, people will create their own stories". When an announcement is made with little explanation, when a recurring event stops happening or if someone stops being as present or engaged, people's minds naturally go to a worst-case scenario. They start making assumptions and leaping to conclusions, all because the…
The volume of motorcycles imported into the country in the first half of 2022 has dropped significantly by a difference of N92 billion, a report by the National Bureau of Statistics (NBS) has shown. Analysis of quarterly reports of ‘Foreign Trade in Goods Statistics,’ released by NBS, indicated that importation of motorcycles in 2022 did not reach the average of N150bn of the previous two halves of 2021. The report indicates that the trade, which flourished in the first half of 2021 was valued at 213.3bn (N118.5bn and N94.7bn in Q1 and Q2 of 2021 respectively. This was followed by…
Oil jumped on Monday as OPEC+ considers a cut to output this week, while Asia shares were mixed with holidays in the Asia-Pacific region likely to result in thin trading. U.S. crude rose 3.01% to $81.88 a barrel after OPEC+ sources told Reuters oil production could be cut by between 500,000 and one million barrels a day. Brent crude rose 2.95% to $87.65 per barrel. On the first trading day of the quarter, MSCI's broadest index of Asia-Pacific shares outside Japan was down 0.43%, on course to decline for a fourth straight session. Advertisement · Scroll to continue In Australia,…
If you want to save money to start a business, you're in good company. The majority of small businesses are funded through savings; one out of three small businesses launched with less than $5,000 in startup capital. Hoping to save money also matters after you start a business. Some small businesses take years to turn a profit and a huge percentage of startups fail because they run out of money. Hoping to save money to start and build a business is one thing; if you want to start saving money period, you're also not alone: A recent survey shows that…
Nigerian National Petroleum Company Limited (NNPCL) has acquired all 380 Oando retail outlets, aviation and gas brands nationwide from OVH Energy. Speaking at the unveiling of one of the new NNPC Ltd stations formerly Oando in Abuja on Saturday, Group Chief Executive Officer NNPC Limited, Mele Kyari, said, “The acquisition will bring over 380 additional filling stations under NNPC Retail brand in Nigeria and Togo, on our journey to attaining 1,500 stations. We will be the largest petroleum product retail network in Africa.” Kyari also noted that the acquisition was to strengthen the downstream business portfolio to enhance profitability and…
The naira, on Thursday, depreciated further against the dollar at the parallel and official sections of the foreign exchange market. The development is coming days after political parties kicked off the 2023 electioneering. Bureaux De Change operators (BDCs), popularly known as ‘abokis’, who spoke to our correspondent in Lagos, quoted the naira at N737 to the dollar at the street market. The figure signifies N30 or 4.2 percent slip compared to the N707 it traded three weeks ago — further widening the gap between parallel and official rates. The street traders put the buying price of the dollar at N727…
Every product or service that a company sells to a specific target market carries with it predictable, specific and repeatable sales obstacles that you must learn to effectively deal with and overcome. Understanding the possible reasons for a "No" during the sales process, will go a long way to increasing the number of times you will hear "Yes" on a sales call. So today, I wanted to give you a list of some of the most popular reasons a customer says "No" during a sales call and the best ways to overcome them before you lose the sale. Common Objections…
Shell has made its first power sector acquisition in Africa with the purchase of a Nigerian renewable energy provider, as the oil major seeks to build out a green energy business that will eventually reduce its dependence on fossil fuels. Daystar Power, which operates in Nigeria, Ghana and three other countries across west Africa, provides solar power and battery solutions to business and industry across the region, including Nigerian Bottling Co, makers of Coca-Cola in the country. Thomas Brostrøm, Shell’s executive vice-president for renewable generation, said the acquisition of Daystar for an undisclosed sum was “a fundamental step for Shell…
If you were fighting with your co-founder, you might ask your VC for advice. You might get a leadership coach. You might fume to your friends. But chances are excellent you wouldn't think to hire a couples therapist. That's a mistake, according to Esther Perel. According to the best-selling author, psychotherapist and leading voice in couples therapy (she also hosts a pair of riveting podcasts), relationships are relationships, whether they're carried out in the home or the office. The same sorts of fears, unconscious beliefs and bad communication strategies can trip us up no matter the theater for the conflict.…
April 22, 2025

9 banks haul in N14trn interest income as manufacturers, small businesses groan under high borrowing…

Nine major Nigerian banks recorded a combined interest income of N14.26tn in 2024, representing a…
April 21, 2025

Tunde Bakare to Tinubu: ‘Stop playing God, embrace humility’

In a fiery Easter Sunday state-of-the-nation address delivered in Lagos, Tunde Bakare, the serving overseer…
April 21, 2025

How Easter transformed the world like nothing else ever could

Scott S. Powell Across cultures throughout human history, people have sought to flee oppression and…
April 19, 2025

UFO: US Navy reports on mysterious aircraft launching from sea

A group of unidentified flying objects spotted by Navy sailors is raising eyebrows after witnesses…
April 22, 2025

ISWAP claims responsibility for deadly attacks on soldiers, Christians in Northeast

The Islamic State West Africa Province (ISWAP) has claimed responsibility for a series of deadly…
April 22, 2025

What to know after Day 1153 of Russia-Ukraine war

WESTERN PERSPECTIVE Putin says he is open to direct peace talks with Ukraine Russian President…
April 22, 2025

Taking statins could slash dementia risk - even if you don't have high cholesterol -…

Taking statins could dramatically reduce the risk of dementia, even in those who already have…
January 08, 2025

NFF appoints new Super Eagles head coach

The Nigeria Football Federation (NFF) has appointed Éric Sékou Chelle as the new Head Coach…

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