Business Tips

FG Targets 700,000 Farmers Under Bio-metric Data Capturing

The Federal Government said it has concluded arrangement to register more than 700,000 farmers under the Agricultural Value Chain and bio-metric data capturing of farmers in Zamfara.

The State Director, Federal Ministry of Agriculture and Rural Development, Musa Raji, made this known in Gusau on Saturday.

Raji told the News Agency of Nigeria in Zamfara that the government would also take bio-metric data capturing of farmers for the implementation of Nigeria Agricultural Payment Initiative (NAP).

Weekly Market Review and Outlook

This week, the Nigerian Equity market was generally driven by the Q3:2015 earnings releases as well as activities in DANGOTE CEMENT which is the most capitalised stock on the bourse. Consequently, the All Share Index gained on 2 out of the 5 trading days of the week bringing W-o-W return to +0.6% and paring YTD loss to -13.4%. Market capitalization equally added N61.1bn W-o-W to settle at N10.3tn. Market activities also improved as investors staked an average of N2.6bn (+29.0% W-o-W) daily on 198.5m units of shares (+32.3% W-o-W).

Company News: Financial Reports of Quoted Companies at NSE

GUINNESS –Guinness Nigeria Plc reports revenue of 21.74 billion naira for quarter ended Sept. 30, 2015, versus 21.05 billion naira last year. The firm also reports quarterly profit before tax of 517.6 million naira versus 1.96 billion naira last year.

BERGER PAINTS –Berger Paints Nigeria Plc reports revenue of 2.15 billion naira for quarter ended Sept. 30, 2015, versus 1.82 billion naira last year. The company also reports profit before taxation for quarter ended Sept 30, 2015 of 303.4 million naira versus 160.9 million naira last year.

Overnight Rate, Bond Yields Rise as Liquidity Thins

Nigeria's overnight lending rates and yields on long term bonds rose on Wednesday after commercial lenders pre-funded their accounts with the central bank for currency purchases, soaking up system liquidity, traders said.

According to Reuters, the central bank has been trying to stimulate lending and stave off a recession in Africa's biggest economy after second quarter growth slowed owing to a persistent drop in oil prices and currency controls.

National Museum Records 10,176 Visitors in Third Quarter

The National Commission for Museums and Monuments (NCMM) said that it recorded 10,176 visitors in the third quarter of this year as against 7,600 visitors recorded within same period last year.

Tunde Omotosho, the Head of Education Unit of the Commission, disclosed this to the News Agency of Nigeria (NAN) in Lagos on Tuesday.

Mr Omotosho gave the breakdown of the visitors as 8,632 students, 1,212 Nigerians adults and 332 foreigners.

“More students visited the museums more often than adults and foreigners,'' Mr Omotosho said.

Osinbajo Asks Entrepreneurs to Focus on Skills Training

Vice President Yemi Osinbajo on Monday requested African entrepreneurs to focus attention on skills training to tackle the challenge of graduate unemployment on the continent.

He gave the charge while receiving a delegation of the African Young Entrepreneurs (AYE), led by its President, Summy Francis, at the State House, Abuja.

Mr Osinbajo said there was a knowledge challenge compounded by the dearth of professionals to impart skills’ training to others.

Weekly Global Market Review and Outlook

Global equities within our coverage maintained their broadly bullish close in the week following news that triggered investor sentiments in the different markets. During the week, markets reacted to the release of the US inflation data that seems to have begun firming. Although the Fed decided to hold rates steady on depressed world growth outlook, the market believes that rising inflation rates and good job reports in the country may necessitate a hike in rates by March 2016.

Market Rebounds Marginally on Blue Chips

Photo L-R: Mbanugo Udenze, Company Secretary, C & I Leasing Plc; Oscar Onyema, Chief Executive Officer, The Nigerian Stock Exchange (NSE); Emeka Ndu, Managing Director, C&I Leasing Plc; Alex Mbakogu, Chief Finance Officer, C&I Leasing Plc; and Maureen Ogbonna, Managing Director, C&I Motors at the Closing Gong Ceremony at The NSE on Thursday.

Risk Management: Emergency Agency Emphasises Harmonisation of Knowledge

The National Emergency Management Agency has underscored the importance of synchronising modern and traditional knowledge toward disaster risk management.

The agency’s Director, Risk Reduction, Alhassan Nuhu, said this in an interview with the News Agency of Nigeria in Abuja yesterday. He was speaking against the backdrop of the commemoration of the 2015 International Day for Disaster Risk Reduction.

According to him, the agency’s focus is in line with this year’s theme: ‘The Use of Traditional, Local and Indigenous Knowledge for Disaster Risk Reduction.’