Nigeria’s Infrastructure Bank has promised to provide financial assistance to the tune of N13 billion to mitigate the consequences of the fuel subsidy removal on Nigerians, especially the poor. Specifically, the bank disclosed that the sum would be used to enhance the nation’s transportation system, particularly the road infrastructure. The bank’s Acting Managing Director, Nkiru […]
The Nigerian Exchange (NGX) closed negative at the end of Thursday’s trading, leading to investors’ loss of N35 billion despite the growth in the volume of traded stocks. Available data from the Nigerian Exchange Limited (NGX) on the trading trend showed that the All-Share Index (ASI) traded 0.09% lower to close at 68,271.14 index points […]
President Bola Tinubu has advised foreign investors to explore for good returns the opportunities in the Nigerian economy through investments. Tinubu made the appeal on Wednesday in New York, when he rang the NASDAQ’s closing bell as part of the proceedings at the Executive Business Dialogue in the United States. Speaking at the event, the […]
As scores of financial technology (Fintech) start-ups in Nigeria continue to rev up their capitalization drive for improved operational presence in Africa’s economies, Fixit45, an Autotech startup, has raised $1.9 million in equity and working capital targeted at expanding its operations to East Africa. Information on the firm’s funding initiative indicated that the pre-seed round […]
The Ambassador of Denmark to Nigeria, Mr Sune Krogstrup, has expressed his country’s readiness to increase investment and provide support for Nigeria’s efforts in developing its renewable energy sector. The Ambassador, who made the promise during an interview with the News Agency of Nigeria (NAN) in Abuja, spoke on Denmark’s roles in the global renewable […]
The Nigerian Exchange (NGX) opened its trading session on Monday in bullish momentum as investors gained N24 billion at the end of the trading session. The All-Share Index (ASI) traded 0.71% higher to close at 67,877.17 index points as against 67,395.74 index points recorded in the previous day’s trading session. Similarly, the local bourse’s market […]
The Nigeria Deposit Insurance Corporation (NDIC), has alerted depositors and ex-staff (deposits) of defunct Peak Merchant Bank of its preparations to pay their first liquidation dividend. A press statement signed by the corporation’s Director, Communication and Public Affairs, Bashir Nuhu, indicated all affected depositors of the bank and former employees with deposits in the bank […]
Investment researchers at Bancorp Securities Limited, one of the leading investment research and consulting services providers in Nigeria, on Monday forecasted a flattish return on Nigerian Exchange broad performance this week as investors begin to position early in anticipation of the outcome of the Central Bank of Nigeria (CBN) Monetary Policy Committee’s meeting scheduled for […]
….Highlights Achievements So Far In Kano The national target to achieve 70% broadband penetration by 2025 is receiving renewed attention from the Nigerian Communications Commission (NCC), which promises 50 per cent before the end of 2023, the commission’s Executive Vice Chairman (EVC), Prof. Umar Danbatta, has assured. The promise was one of the highlights […]
The Nigerian National Petroleum Company Limited (NNPCL) weekend sealed an agreement with Indorama Petrochemicals Company Limited to deepen the implementation of Nigeria’s Nigasification strategy. According to the Group Chief Executive of the NNPCL, Mallam Mele Kyari, the initiative will help to unlock about $18bn revenue for Nigeria and also enable the parties to the deal […]