The Nigerian National Petroleum Company Limited (NNPCL) has signed a $741 million maintenance service contract with Daewoo Engineering and Construction Company Limited for a quick fix repair of the moribund Kaduna Refinery and Petrochemical Company (KRPC). A statement by the Nigerian oil company indicated that the signing ceremony was performed on Thursday by the top […]
The Nigerian Exchange (NGX) closed positive for the second consecutive day on Thursday amidst buy-interests and sell-offs by investors as bulls dominated proceedings, driving up the broad market’s index. Available data from the market’s moderating institution showed that at the end of the trading session, the All-share Index (ASI) appreciated by 0.93% to close at […]
Trading at the Nigerian Exchange (NGX) closed positive today amidst buy-interests and sell-offs as bulls dominated the session, thereby increasing the broad market performance Consequently, the equities market’s All-share Index (ASI) appreciated by 0.49% to close at 53,499.68 points while the market capitalization grew by N142 billion to close at N29.139 trillion. The market’s indices […]
The Independent Marketers Association of Nigeria (IPMAN) has promised fuel users in the country of improved product supply and lower pump prices within the next two weeks. The association’s National Operations Controller, Mr Mike Osatuyi, made this pledge on Wednesday while responding to a question on Arise TV’s Morning Show programme. The marketing chief hinged […]
The African Development Bank’s Affirmative Finance Action for Women in Africa (AFAWA), an initiative of the African Development Bank (AfDB) has supported African women entrepreneurs with over $1 billion in approved funding to boost their businesses and incomes. The AFAWA was launched in 2015 in Dakar during the first Feed Africa conference (Dakar 1 Africa […]
The International Monetary Fund (IMF) has revised upward its 2023 growth projection for Nigeria’s economy to 3.2% from the earlier projected 3.1% growth rate published in its World Economic Outlook Update (WEO) in October last year. The IMF made the latest forecast in its World Economic Outlook Update published on Tuesday. It reported that the […]
The Naira slightly appreciated in its exchange value against the US dollar at the black market in the early hours of Tuesday, trading at N751/$1 compared to N752/$1 it exchanged at during Monday’s trading session. Some black market FX traders attributed the rebound of the local currency to the current CBN’s currency swap policy that […]
President Muhammadu Buhari on Monday inaugurated the 10 megawatts Kano solar power project funded by the Nigeria Sovereign Investment Authority (NSIA) at a cost of $16 million. Speaking during the epochal event in the nation’s sustainable, environment-friendly power project drive, Buhari expressed satisfaction with the installation of the solar power plant, with over 21,000 solar […]
Nigeria’s national currency – Naira – depreciated in its exchange rate against the US dollar at the parallel market in the early hours on Monday to N752/$1, representing a 0.94% depreciation when compared to the N745/$1 it traded on Friday. Some black market FX traders attributed the depreciation of the local currency to large quantity […]
Investment analysts and economists at Bancorp Securities Limited, a leading investment research firm in Nigeria, on Monday projected mixed sentiment in the nation’s equities market this week, noting however, that earnings expectations would continue to provide a catalyst for the market’s positive performance The experts in the firm’s ‘Weekly Stock Recommendations Jan 30 – Feb […]