Nigeria’s equities market reversed Thursday’s bearish trend to close the week’s trading sessions on Friday positive in a very competitive buy-in and sell-off session that impacted on the local bourse’s broad performance. Data from the Nigerian Exchange Group (NGX) on the trading session showed that the benchmark All-Share Index (ASI) traded 0.29% higher to close […]
The Nigerian Upstream Petroleum Regulatory Commission (NUPRC) has issued seven new regulations to guide operators in Nigeria’s oil and gas industry. The commission’s Chief Executive Officer, Engr. Gbenga Komolafe, who disclosed this in a statement issued on Thursday, clarified that the seven new regulations were aimed at creating a regulatory environment that assures efficiency, predictability, […]
….says Savings Bonds’ allotments hit N5.06bn in five months The Nigerian Exchange Limited (NGX) has charged Nigeria’s investing public, especially retail investors, to explore the immense investment returns and other benefits of the Federal Government of Nigeria’s (FGN’s) debt instruments to improve their socioeconomic well-being on a sustainable basis. The Divisional Head of Capital Markets […]
…..analysts forecast $382bn spending on solar in 2023 The International Energy Agency (IEA) has predicted that investment in clean energy will extend its lead over spending on fossil fuels this year, with solar projects expected to surpass funding commitments on oil production for the first time. The Paris-based energy industry watchdog made this projection […]
Nigeria’s currency, the Naira, closed its exchange rate against the US dollar at black market on Friday, to trade at N780/$1 and representing 1.96% depreciation when compared with the N765/$1 it traded the preceding day. The latest exchange rate of the local currency marks the highest decline in its exchange value against the greenback since […]
….amid AON’s opposition to project, subsisting court order In what appears a confirmation of the outgoing President Muhammadu Buhari’s administration to walk its talk on the national carrier project, a Nigeria Air aircraft, which was earlier sighted early today at Addis Ababa Bole International Airport, Ethiopia, has reportedly landed at the Nnamdi Azikiwe International Airport, […]
The Nigerian National Petroleum Company Limited (NNPCL) has announced its signing of a series of agreements concerning Oil Mining License (OML) 130 with major oil exploration and production (E&P) companies in furtherance of its sustained efforts to improve Nigeria’s oil output on a sustainable basis. The company stated through its official Twitter account that the […]
Nigeria’s currency, the Naira, sustained its depreciative streak in exchange value against the US dollar on Thursday at the parallel market, trading at an average exchange rate of N765/$1, representing 0.26% dip in value when compared to the N763/$1 it exchanged at in previous day’s trading session. Some FX dealers in the Federal Capital Territory […]
The Federal Government on Thursday charged the newly appointed board members of the Nigeria Deposit Insurance Corporation (NDIC) to vigorously pursue sundry initiatives aimed at sustaining the stability of the nation’s financial system stability and growth in view of the increasing risks posed by financial technology (Fintech) and block chain technology to the global financial […]
Researchers and economic development analysts have attributed the improved financial sector’s contribution to Nigeria’s Gross Domestic Product (GDP) in Q1 2023 to higher charges on customers as e-transactions mainly characterized the sector’s operations in the period. The National Bureau of Statistics (NBS) had on Wednesday in its ‘Nigeria Gross Domestic Product Q1 2023’ report disclosed […]