President Muhammadu Buhari has disclosed plans to strengthen bilateral relations between Nigeria and Netherlands in areas of investment, trade and security.
He disclosed this during a business roundtable with the visiting Prime Minister of The Netherlands, Mark Rutte and members of his delegation at the State House, Abuja, on Tuesday.
Vanguard reports that it was agreed upon by the two leaders that both countries need to specifically improve bilateral trade volumes as well as private sector involvement.
While speaking during the event, President Buhari said that Nigeria is an attractive investments destination as the country offers one of the highest returns on investments in the world.
Speaking further, he said that Nigeria had embarked on massive infrastructural development aimed at creating a conducive atmosphere for business to thrive across the country. He, therefore, urged the Netherlands business community to engage more concretely and collaborate more closely with their Nigerian counterparts for the mutual economic benefit and sustainable development of both countries.
“Nigeria is a very attractive investment destination. Nigeria offers one of the highest returns on investments in the world. Your Excellency, this administration is making frantic efforts to generate stable electricity as witnessed by Nigeria’s recent signing of enhanced power supply with Siemens of Germany.
“This is aimed at eliminating bottlenecks in the grind capacity of our electricity supply for economic growth. As we develop our infrastructure, our microeconomic policies are being strengthened in order to guarantee economic stability.
“Now is the single moment for Nigeria and The Netherlands to engage more concretely and collaborate more closely for our mutual economic benefit and sustainable development of our two countries,’’ he said.
What you should know: Prime Minister Rutte, who is on a two-day working visit to Nigeria, is leading a trade delegation of eight Chief Executive Officers (CEOs) of Dutch multinationals currently operating in Nigeria with huge investment portfolios in the agriculture, finance, oil and gas sectors.
Commenting and answering questions from journalists, Prime Minister Rutte commended Nigeria for promoting international law in the International Criminal Court in The Hague. According to him, Nigeria and the Netherlands share the belief that international law contributes to a fair and safer world. He was also impressed with the country, saying it’s 20 times the size of the Netherlands and more people live in Lagos than the whole of his country.
Twitter CEO auctions his first-ever tweet on Twitter, bidding at $2.5 million
Jack Dorsey is auctioning his first-ever tweet on a website that sells tweets as non-fungible tokens.
Twitter CEO, Jack Dorsey is auctioning his first-ever tweet on Twitter “just setting up my twttr” on a website that sells tweets as non-fungible tokens (NFTs).
The tweet was listed for sale on ‘Valuables by Cent’ – a tweets marketplace that was launched three months ago. The tweet was first made in March 2006
The tweet received offers as high as $88,888.88 within minutes of Jack tweeting a link to the listing on” Valuables by Cent” on Friday.
Currently, bidding has reached $2.5 million (€2.1 million) indicating the potential in selling virtual objects that have been authenticated through blockchain technology.
The highest bid for the tweet — $2.5 million — came from Bridge Oracle CEO Sina Estavi. It topped cryptocurrency pioneer, Justin Sun’s $2 million bid.
The final buyer of the tweet will receive a certificate, digitally signed and verified by Jack Dorsey, as well as the metadata of the original tweet. The data will include information such as the time the tweet was posted and its text contents. Most of this information, however, is already publicly available.
According to Valuables by Cent’s terms, 95% of a tweet’s sale will go to the original creator while the remainder will go to the website.
What you should know
- NFTs is a unique digital certificate that states who owns a photo, video, or other forms of online media.
- Dorsey’s 15-year-old tweet is one of the most famous tweets ever on the platform.
- Bidding had reached $2.5 million (€2.1 million) on Saturday, indicating the potential in selling virtual objects that have been authenticated through blockchain technology.
- More people are currently bidding their tweets on the platform.
Bamboo’s current rate for buying U.S Stocks weakens to N492/$1
Bamboo is currently offering its users a premium of more than 20% compared to the official exchange rate.
The fast-rising Nigerian stock broking application, Bamboo, is currently offering an exchange rate of N492 to the dollar.
About two weeks ago, the Nigerian stock trading app offered an exchange rate of about N484 to $1.
The green-colored trading app known for allowing local-based Nigerians to invest in stocks listed on the world’s biggest stock market (New York Stock Exchange and NASDAQ) is currently offering its users a premium of more than 20% compared to the official exchange rate set by the Nigerian apex bank.
That being said, Nairametrics’s most recent research observed Chaka. ng offers the lowest exchange rate charge of N480 to 1$, other Nigerian-based stock trading apps that include Trove and Risevest currently offer their clients N491.68 and N486 to $1 respectively.
In addition, other leading fintech platforms reviewed by Nairametrics also presently offer exuberant rates as high as about N519 to a dollar, thereby adding more transaction costs on a significant number of Nigerians hoping to trade such financial assets.
A growing number of Nigerians are currently increasing their exposure to the U.S stock market taking to the current bearish trend that is being witnessed in the Nigerian Equity market and growing urge in hedging against the weakening local currency.
Consequently, a lot of Nigerians are flocking the New York Stock Exchange (NYSE) on the account it has about 2,800 companies listed, while the NASDAQ has about 3,300 stocks listed. This gives Nigerian investors numerous options where they can invest their money. It is also why the US economy attracts billions of dollars in portfolio investments annually.
Bamboo is an investment platform that gives Africans real-time access to invest in or trade over 3,500 stocks listed on the American and Nigerian exchanges right from their smartphones or personal computer.
In partnership with US-based Drive Wealth LLC, Bamboo provides seamless, secure access to US and Nigerian securities.
Nairametrics | Company Earnings
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- Abbey Mortgage Bank projects N51.08 million profit in Q2 2020.