The Nigerian stock market demonstrated resilience and moderate growth as the All-Share Index (ASI) inched up by 0.20%, closing at 99,832.25. This increment, though modest, reflects a positive sentiment among investors as they navigate the diverse landscape of listed equities on the Nigerian Exchange, including those on the Growth Board. The day saw a substantial Read More…
On June 11, 2024, the Nigerian Exchange’s All-Share Index (ASI) experienced a modest decline. The ASI, which monitors the overall market movement of all listed equities, including those on the Growth Board, closed at 99,630.51 points. This represents a slight decrease of 0.16% from the previous trading day. This dip indicates a cautious approach among Read More…
The Nigerian stock market experienced notable activity on June 10, 2024. The NGX All-Share Index (ASI), which tracks the general market movement of all listed equities on the Nigerian Exchange, including those listed on the Growth Board, showed positive momentum. The NGX All-Share Index saw a modest increase of 0.58% to close at 99,793.71 points. Read More…
Transnational Corporation Plc (Transcorp) has reported a significant increase in its gross profit for the year ended Dec. 31, 2023, indicating positive growth in its financial performance. According to Mr. Tony Elumelu, Chairman Board of Directors, Transcorp, the company’s gross profit surged by 66.0 per cent to N109.1 billion, compared to N65.77 billion in the Read More…
Sell-offs in the shares of tier-one banks on Thursday played a significant role in a 0.32 per cent decline in the Nigerian Exchange Ltd. (NGX) market indices, reflecting a cautious sentiment among investors. Highlighting the market movement, a market analyst stated, “Losses in the share prices of FBN Holdings, Access Corporation, Guaranty Trust Holding Company Read More…
The Nigerian Electricity Regulatory Commission (NERC) has given the green light for an increase in electricity tariffs, impacting Band A customers who currently receive 20 hours of power supply daily. Mr. Musliu Oseni, Vice Chairman of NERC, announced this decision during a press conference held in Abuja on Wednesday. Oseni highlighted that Band A customers Read More…
Three major Nigerian companies, Transcorp Power Plc, Cadbury Nigeria Plc, and Geregu Power Plc, have released their end-of-year reports, revealing a mix of financial outcomes for the year ended Dec. 31, 2023. Transcorp Power Plc reported a significant surge in profit before tax (PBT), with Mr Stanley Chikwendu, Group Company Secretary, confirming a profit of Read More…
The Nigerian Exchange Ltd. (NGX) witnessed a decline in the value of transactions on Tuesday, following the Easter break, with market activities showing a decrease in trade turnover compared to the previous session. According to analysis, a total of 545.49 million shares valued at N14.61 billion were exchanged in 12,747 deals, marking a 13.81% decrease Read More…
Nigeria plans to axe electricity subsidies for a select group of consumers in a bid to rein in ballooning public finances, the presidency announced on Tuesday. This move follows a series of reforms undertaken by President Bola Tinubu aimed at stimulating economic growth. “With the huge subsidy burden and high cost of gas … the Read More…
In a recent development, the Nigerian Naira experienced a minor depreciation in the official market, with an exchange rate of N1,309.39 to a dollar on Thursday. The Naira lost N8.96 or 0.69 percent compared to the previous day’s rate of N1,300.43 against the dollar. This slight decline reflects the currency’s fluctuation in response to market Read More…
