The Nigeria Sovereign Investment Authority (NSIA) has launched a $500m Renewables Investment Platform for Limitless Energy (RIPLE) as part of its commitment to boosting the nation’s power generation and supply on a sustainable basis in the years ahead, Specifically, the initiative aims at the development, investment, and operation of renewable energy projects across the entire […]
Investments/Capital Market
Global Debt Stock Surges To $307.4Trn In Q3, 2023
A new report published by the Institute of International Finance (IIF) indicated that global debt stock reached a historic high of $307.4 trillion in the third quarter of 2023, with the debt-to-output ratio in emerging markets reaching an unprecedented level during the quarter In the latest report published on Thursday, the financial services trade group […]
Why FTSE-Russell, MSCI Reclassify Nigerian Securities – SEC D-G
The Securities and Exchange Commission (SEC) has attributed the reclassifications of Nigerian securities indices by FTSE-Russell and MSCI to the current foreign exchange (FX) liquidity challenges in the country and the effects on investor confidence in the economy. FTSE Russell, a subsidiary of London Stock Exchange Group (LSEG), recently downgraded the Nigerian equities market just […]
Morgan Stanley Rules Out Major Headwinds To Reinsurance Pricing In 2024
As 2024 fast approaches, analysts at investment bank, Morgan Stanley, currently don’t see any sign of headwinds to affect reinsurance pricing for the renewals and into the next year, with capital supply remaining balanced in the sector. A news report from Artemis.bm, an online medium, quotes the investment bank analysts as saying that results seen […]
Old Naira Banknotes Remain Legal Tender Indefinitely – CBN
With just about six weeks to the earlier deadline set by it to illegalize the use of old banknotes in the country, the Central Bank on Tuesday reversed the directive, thereby extending the legality of the old notes for transactions beyond the December 2023 deadline. It would be recalled that the apex bank had introduced […]
Nigeria Records 131 Crude Oil Theft Incidents In 7 Days
The Nigerian National Petroleum Company Limited (NNPCL) reported via its official X account on Tuesday that 131 crude oil theft incidents were recorded in the oil facilities within 7 days of operations in the nation’s upstream subsector. According to the report, during the one week period, there were 24 illegal connections, 43 illegal refineries, 17 […]
AfDB To Disburse $618Mn To Nigeria’s Digital, Creative Enterprises
The African Development Bank (AfDB) has finalised arrangements to disburse about $618 million to Nigeria under the Investment in Digital and Creative Enterprise (i-DICE), programme. AfDB’s Country Director-General for Nigeria, Lamin Barrow, who gave this hint on Sunday in Morocco, confirmed that the Federal Government had initiated the process of recruiting a fund manager for […]
Analysts Predict Slowdown In Growth Stocks’ Activity In NGX
Researchers at Bancorp Securities Limited, one of Nigeria’s leading investment consulting advisory services providers, have forecasted a slowdown in the growth stocks’ activity in the nation’s equities market this week as risk-averse investors would consolidate their capital gain drives during the trading sessions. The analysts, in the research firm’s ‘Weekly Stock Recommendation: Nov 13- Nov […]
Economy: Experts Forecast 1.54% GDP For Nigeria In Q4
….As PMI Dips To 49.1% In October Economists at CAPE Economic Research and Consulting firm have predicted that in the medium-term Nigeria’s economic output growth (Gross Domestic Product) growth rate would moderate to 1.73 percent in the 5rd quarter and dipped further by 0.02 percentage points to 1.54 percent in Q4 this year. The experts, […]
Investors Gain N87Bn Amid Bullish Run For Blue Chip Stocks
The Nigerian Exchange Limited’s (NGX;s) All-Share Index further appreciated on Wednesday, closing at 70,773.31 points, as investors’ sentiment for high-yielding stocks surges. At the end of the day’s trading session, investors gained N87 billion as the market capitalization increased to N38.885 trillion due to what market analysts attributed to price gains by big stocks such […]