• Investors enjoined to trade cautiously in near term Following price gains recorded by major highly capitalised stocks, especially Dangote Cement, and Guaranty Trust Bank (GTB), transactions on the equity sector of the Nigerian Stock Exchange (NSE), reopened in an upbeat after the two days holiday to mark the Eid-el Kabir celebration yesterday.Market capitalisation rose […]
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Trading activities on the Nigerian Stock Exchange (NSE) sustained a postive growth on Friday, with Dangote Cement leading the gainers’ table for the second consecutive day. The crucial market indices appreciated further with 0.63 per cent growth, following gains by some blue chips. Specifically, the market capitalisation inched N81 billion or 0.63 per cent to […]
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Agricultural, manufacturing and the sectors considered as growth and employment stimulating, can now borrow long term as much as N10 billion at consolidated nine per cent interest rate under new guidelines issued by the Central Bank of Nigeria. The new credit policy called Guidelines for Accessing Real Sector Support Facility (RSSF) through CRR and Corporate […]
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The 3rd Annual Maritime Conference holding in Lagos has unveiled that Nigeria controls 70 per cent of the economies of West and Central Africa. The conference with the theme, “ Port Costs and Ports Charges: A Recurring Decimal under Port Reform Regime”, was held in honour of Dr. Taiwo Afolabi, Group Executive and Vice Chairman, […]
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The Nigerian Stock Exchange (NSE) recorded the first gain for the week with the market capitalisation increasing by N236 billion on Friday. Newsmen report that the market capitalisation inched N236 billion of 1.87 per cent to close at N12.874 trillion against N12.638 trillion achieved on Thursday. Also, the All-Share Index rose by 649.57 points or […]
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The Naira gained 40k against the dollar at the end of Friday trading, exchanging at N359.6 stronger than N360 traded on Thursday. The Pound Sterling and the Euro closed at N469 and N413 respectively. At the Bureau De Change window, the Naira exchanged at N360 to the dollar, while the Pound Sterling and the Euro […]
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The Peoples Democratic Party, PDP, has alleged that President Muhammadu Buhari’s poor understanding of current global economic dynamics and humongous corruption in his Presidency have wrecked Nigeria. It said the limit of the economic knowledge of the President and the APC was also directly responsible for the accumulated N22 trillion national debt burden on the […]
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The Nigerian National Petroleum Corporation (NNPC) says it has plans to establish 100,000-barrels-per-day brownfield refineries in Port-Harcourt and Warri to boost local refining of crude oil in the country. The Group General Manager, Group Public Affairs Division, Mr Ndu Ughamadu, disclosed this in a statement issued on Tuesday in Abuja. Ughamadu said that the effort […]
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The Central Bank of Nigeria has sustained its intervention in the inter-bank foreign exchange market by injecting 210 million dollars into the various segments of the market. The acting Director, Corporate Communications, CBN, Mr Isaac Okorafor, on Tuesday in Abuja, said the apex bank offered 100 million dollars as wholesale interventions and allocated 55 million […]
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Nigerians will pay 14 percent increase above their current residential consumers electricity tariff if the Federal Government goes ahead to implement its newly introduced Eligible Customer policy in the power sector, according to power distribution companies. In July this year, the Minister of Power, Works and Housing, Babatunde Fashola, said in order to accelerate power […]
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