Investors’ bearish sentiment dominated trading sessions in the Nigerian Exchange on Friday, thereby causing the local bourse to close the week’s trading with remarkable deprecation in most listed stocks’ values. At the end of the trading session, the All-Share Index (ASI) traded 1.39% lower to close at 67,324.59 index points compared to the 68,271.14 index […]
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 […]
Latest Nigeria’s Purchasing Managers Index (PMI) report indicated that the index dropped to 50.2 in August, down from 51.7 in July, which showed that efforts by the government to grow the economy are yielding minimal impact with the MPI marking the lowest rate over the past five months. As expected the report is sending worrying […]
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 […]
…becomes first state-owned oil firm to sign Initiative The Nigerian National Petroleum Company Limited (NNPCL) has signed the United Nations Global Compact Letter of Commitment as a participant at the ongoing 78th United Nations General Assembly (UNGA) in New York, United States. The company confirmed its signing for the global initiative letter in a statement […]
…..says NNPCL remits no money to Federation Account ……..NNPCL’s Mgt debunks allegation The Revenue Mobilisation Allocation And Fiscal Commission (RMAFC) has disclosed that the total sum of N5,244,037,636,561.60 accrued into the Federation Account in the first half of this year based on figures from the monthly reports of the Federation Account Allocation Committee (FAAC) […]
The Director General of the Bureau of Public Enterprises (BPE), Mr. Alex Okoh, has promised that the Bureau will provide technical support and knowhow to assist the Jigawa State Government to optimise its assets and identify key areas where Public Private Partnership (PPP) can make tangible impact on the state’s economy. The Director-General gave this […]
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 […]
Sustained efforts by the monetary authorities to stabilize the Naira exchange rates at the official and parallel markets appear to be yielding minimal results as the national currency continues its sliding trend over the past week on the back on the US dollar and other foreign currencies’’ scarcity. Available data from the parallel market FX […]
The Federal Government has disclosed that it recovered about N57 billion from the N5.2 trillion debt owed by 10 Ministries, Departments and Agencies (MDAs) under the Project Light House Programme with the adoption of the Debt Analytics and Reporting Application tools. The disclosure was made by Director, Special Projects of the Federal Ministry of Finance, […]