Category: Business
Firms to produce outside Nigeria over new gas prices, others
Nigeria ‘accidentally’ discovers 206tcf gas reserves FX scarcity, gas dollarisation may spike inflation Gas users to pay $5.10/mmbtu from July despite shortages With the new gas price regime expected to kick off on July 1, alongside challenges of currency devaluation and access to foreign exchange for raw materials, local manufacturers have said they are contemplating […]
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Investors’ divestment cost stock market N1.8tr in six months
Stock market Experts worry over persistent migration of fund from stock market The continuous exit of funds from the equities market to another investment instrument, especially the fixed income segment has become a source of worry to capital market stakeholders, as they urged the Federal Government to tackle growing security challenges in Nigeria. The stakeholders […]
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Nigeria faces import crisis as reserves hit 13-month low
Reserves fall behind South Africa, Egypt, Morocco, Libya ‘Contract-crude swap robbing economy of rising crude gains’ Low confidence worsening investment outlook Nigeria’s economy could be leaning against the wind as the country’s external reserves fell to a 13-month low last week, tumbling quickly to $30 billion, the level it was between 2015 and 2017. Last […]
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Iseyin where dairy business generates cool cash, peace among Yoruba, Fulani farmers
Moyosore with one of his workers Afeez Anafi, who was at Iseyin, Oyo State, reports that a dairy development programme in the community is changing the chain of milk processing, storage and distribution in the country The joy Ahmadu Abdullahi exuded was as apparent as daybreak at the milk collection centre in Maya, the artery […]
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IMF asks CBN to harmonise forex rates for market clearance
Photo/Twitter/Cenbank Calls for market-based fuel pricing The International Monetary Fund (IMF) has called for the adoption of the Nigerian Autonomous Foreign Exchange (NAFEX) window for official transactions as well as the unification of all rates to achieve a market-clearing rate. It stated this in a statement issued after a virtual meeting with Nigerian authorities from […]
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Nigerian businesses shun IPOs, raise N3.09tr via commercial papers
‘CPs dominance may worsen drought of new issues in the stock market’ Operators blame the weak macroeconomy, others Urge govt to tackle insecurity, provide tax incentives, reduce issuance cost Rising issuance of Commercial Papers (CPs) in Debt Capital Market (DCM) over regular equities financing has become a source of worry to capital market operators, as […]
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Founders & fixers: Entrepreneurial pursuits of four exceptional women
Patience Bamidele Amaebite (The Springboard), Kalanne Ebiye-Koripamo (Kayge Cosmetics), Ifeoma Egbuonu (CEO, Homey Thrills & GCAP) and Tareela Okene (Dripples Cakes) are young, intelligent, ambitious and innovative Nigerian women who founded their businesses and are nurturing them against all odds. From business growth to skincare and beauty, edutainment and baking, these audacious women spoke to […]
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Banks begin N6.98 USSD charge, customers kick
Some banks have notified their customers that they would start charging them N6.98 for every USSD transactions. However, experts have said that excessive charges by banks could pose a threat to financial inclusion. According to them, it will increase cash transactions because many bank customers would avoid using the USSD for transactions and could also […]
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Investors gain N418b in April as experts seek investments in agro, ICT
The Nigerian Exchange Limited (NGX) halted two months’ pullbacks to close April on a positive note as investors’ wealth soared by N418 billion in one month. The performance followed improved corporate earnings and renewed positive sentiments in blue-chips. The benchmark index gained 2.02 per cent to close the month at 39,834.42 basis points, from 39,045.13 […]
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