Transactions on the Nigerian Stock Exchange (NSE) commenced the week on Monday with a loss of 0.75 per cent amid renewed profit taking. Speficially, the market capitalisation dipped N137 billion or 0.75 per cent to close at N18.171 trillion compared with N18.308 trillion recorded on Friday. Also, the All-Share Index lost 263.38 points or 0.75 Read More…
The Lagos Chamber of Commerce and Industry (LCCI) says accelerated domestic refining and processing of petroleum products would end the unstable petroleum pricing in the country, Dr Muda Yusuf, Director-Genera of the Chamber, said in an interview with the News Agency of Nigeria (NAN) on Saturday in Lagos. He explained that this action was necessary Read More…
An agritech focussed company, Farmcrowdy Limited (FC), says it is committed to impact 25,000 farmers across Nigeria through its Structured Financing of N5.7 billion. Mr Oluwakotanmi Ojo, the Chief Financial Officer and Business Leader, FC Structured Finance, made this known at the firm’s fourth year anniversary in Lagos. Ojo said 90 per cent of farmers in Read More…
The Nigerian Stock Exchange (NSE) on Friday recorded its first loss for the week, dropping by 0.86 per cent due to profit taking. Specifically, the market capitalisation lost N159 billion or 0.86 per cent to close at N18.308 trillion compared with N18.467 trillion posted on Thursday. Also, the All-Share Index which opened at 35,343.46 dipped Read More…
The Federal Government’s drive to stimulate job creation has started yielding dividends with Techno Oil Ltd set to inaugurate an automated Liquefied Petroleum Gas (LPG) terminal at Kirikiri in Apapa, Lagos. It is expected to generate 2,000 jobs. The Managing Director of Techno Gas and Power, Mr Collins Onyeama, who made the disclosure while briefing Read More…
A lawsuit launched by the Nigerian government against U.S. bank JP Morgan Chase, claiming over $1.7 billion for its role in a disputed 2011 oilfield deal, will proceed to trial, London’s high court ruled on Thursday. The suit filed in the English courts in 2017 relates to the purchase of the offshore OPL 245 oilfield Read More…
The Nigerian Stock Exchange (NSE) on Thursday triggered circuit breaker to guard against sharp market fluctuation as the All-Share Index (ASI) rises beyond five per cent threshold. The NSE in a statement posted on its website said that a market-wide circuit breaker kicked in on Thursday, at 12:55p.m, when the NSE ASI rose beyond the Read More…
Mr Adeniyi Adebayo, Minister of Industry, Trade and Investment, says the Federal Executive Council’s approval of ratification of African Continental Free Trade Area (AfCFTA) agreement demonstrates, globally, Nigeria’s economic leadership position on the continent. FEC on Wednesday approved the ratification of the AfCFTA agreement which Nigeria signed on July 7, 2019, in Niamey during the Read More…
The nation’s bourse on Wednesday extended its bullish run for the third consecutive day with investors net worth appreciating further by N324 billion. Specifically, the market capitalisation inched higher by N324 billion or 1.90 per cent to close at N17.383 trillion from N17. 059 trillion achieved on Tuesday. Consequently, investors garnered N1.18 trillion in just Read More…
African online retailer Jumia on Tuesday reported a nearly 18% fall in third-quarter revenue as it shifted towards less expensive but more frequently ordered items and missed out on lockdown boosts enjoyed by international rivals. Cost-saving efforts, however, allowed Jumia to reduce its adjusted loss in earnings before interest, taxes, depreciation and amortization for the Read More…