The Acting Governor of the Central Bank of Nigeria (CBN), Mr Olayemi Cardoso, has hinted that one of the key targets of the current economic reforms by the President Bola Tinubu’s administration is to increase the nation’s Gross Domestic Product (GDP) to $1 trillion in eight years. Cardoso, who gave this hint on Thursday at […]
Investments/Capital Market
Gates Foundation Announces $30Mn AI Investment In Africa
Bill Gates, co-chair of the Bill & Melinda Gates Foundation, has announced that the Foundation will commit $30 million in a new artificial intelligence (AI) platform in Africa. Gates made the announcement on Wednesday at the Grand Challenges annual meeting hosted by the Bill & Melinda Gates Foundation and its partners, in Senegal. Grand Challenges, […]
Global Electric Vehicles Market To Hit $44.3Bn By 2030 – Analysts
New researches by experts have indicated that the global goods and parcels’ electric delivery vehicles market could reach US$ 44.3 billion by 2030, with an annual growth rate of more than 18.5 percent. In RationalStat’s latest industry analysis, the Global Electric Delivery Vehicles Market value is US$ 13.5 billion in 2023 and is expected to […]
Nigeria’s Capital Importation Dips By 32.90% In Q2 2023
The National Bureau of Statistics (NBS) has reported that Nigeria’s total capital importation in the second quarter of this year, remarkably decreased to US$1,030.21 million, lower than US$1,535.35 million recorded in Q2 2022. The Q2 2023 figures indicated a decrease of 32.90% year-on-year (Y-o-Y) but when compared to the preceding quarter, the nation’s capital importation […]
Nigeria’s Upstream CAPEX Drops $21Bn Within 10 Years – NUPRC
The Nigerian Upstream Petroleum Regulatory Commission (NUPRC) has reported that the country’s total annual upstream capital expenditure (CAPEX) decreased from $27 billion in 2014 to less than $6 billion in 2022. The Chief Executive Officer of the commission, Mr Gbenga Komolafe, who made this disclosure on the sidelines of the World Petroleum Congress (WPC) in […]
Analysts Forecast Flattish Performance Of Nigeria’s Equities Market
Investment analysts at Bancorp Securities Limited, a leading investment research and consulting services providers in Nigeria, have projected a flattish broad market performance of Nigeria’s equities market as investors are expected to sustain profit-making drives in their trading decisions. The experts recalled that in the previous week ended on a gleeful note with the assumption […]
Investors Lose N518Bn On Friday, As Bears Control NGX Trading
Investors lost N518 billion last Friday at the close of trading sessions in the Nigerian Exchange as bearish sentiment characterized the transactions in most of the listed stocks’ values At the end of the trading session, the market’s All-Share Index (ASI) depreciated by 1.39% to close at 67,324.59 index points compared to the 68,271.14 index […]
Investors’ Bearish Sentiment Dips NGX Cap By N518Bn
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 […]
Fuel Subsidy Hardships: Infrastructure Bank To Spend N13Bn On Roads, Others
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 […]
NGX Closes Bearish, As Investors Lose N35Bn
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 […]