Investment experts at Bancorp Securities Limited, one of the leading investment research and consulting services firms in Nigeria, have predicted positive outlook for the Nigerian Exchange trading sessions this week, maintaining its current momentum though at a slower pace. The analysts, in the firm’s ‘Weekly Stock Recommendation for Jan 08 – Jan 12, 2024’ sourced […]
The naira opened the 2024 year on a negative note on Tuesday settling at N988.46/$1 at the Nigeria Autonomous Foreign Exchange Market (NAFEM), compared to N907.11/$1 quoted on Friday, the last trading day of 2023. According to statistics from the FMDQ, the FX market recorded low dollar liquidity as the daily market turnover declined by […]
Investment researchers and economists at Bancorp Securities Limited, one of Nigeria’s investment research and consulting firms, have projected that despite the current gloomy macroeconomic indices of the nation’s economy, trading in the Nigerian Exchange this week held promising potential for returns to investors, though at a slower rate. The experts, in the firm’s ‘Weekly Stock […]
A new report by ‘Africa: The Big Deal’ on startups across Africa has indicated that the entities raised a total of $2.9 billion in 2023, representing a 39% year-on-year decline when compared to the funds they raised in 2022. According to the report, which monitors deals announced by startups on the continent last year, in […]
BudgIT, one of the leading civic-tech civil society organizations championing transparency, accountability, and effective service delivery in Nigeria, has commended the Federal Government for taking a step toward transparency by publishing the 2024 proposed budget of Government-Owned Enterprises (GOEs) in the country. The CSO noted that the latest move by the government was partly in […]
Experts in Nigeria’s hydrocarbon resources industry foresee that the planned commitment of about $13.5 billion in upstream oil and gas investment by oil majors could serve as stimulus to help Nigeria achieve its 2.6 million barrels per day (mb/d) production target in the next three years. President Bola Tinubu had expressed the readiness of the […]
Gallagher Re, one of the leading global reinsurance brokerage firms, has reported that as of January 1st, 2024, reinsurance renewals, U.S property catastrophe incidents increased by as much as 50% for loss-hit business, primarily driven by record severe convective storm (SCS) activity. In its just released ‘1st View Report’, which discusses an overall more stable […]
Total capital importation into Nigeria in the third quarter of 2023 stood at US$654.65 million but lower than the US$1,159.67 million recorded in the corresponding quarter of year 2022, representing a decline of 43.55% year-on-year. The latest ‘Nigeria Capital Importation Q3 2023’ report published by the National Bureau of Statistics (NBS) on its website indicated […]
The National Agency for Food and Drug Administration and Control (NAFDAC) has reduced by 65% the registration renewal fees for Micro, Small, and Medium Enterprises (MSMEs) in the country. The agency, in a statement signed by its Director-General, Prof. Mojisola Adeyeye, also outlined other measures to enhance the ease of doing business in Nigeria and […]
The latest Stanbic IBTC Purchasing Managers Index (PMI) for Nigeria has reflected that the organized private sector (OPS) posted improved growth to 52.7 in December 2023, up from 48.0 recorded in the preceding month. However, despite the improved performance of the private sector, the business outlook of the economy for the new year ebbed to […]