Business

The Nigerian Exchange Limited (NGX) this week dropped by N201 billion by market capitalisation ( Week-on-Week) amid massive volatility in the global stock market. For example, the market capitalisation dropped to N68.752 trillion yesterday, about N201 billion decline when compared to N68.952 billion the stock market opened for trading, while the NGX All-Share Index dipped by 0.62per cent WoW to…

By Kunle Sanni The Minister of Aviation and Aerospace Development, Festus Keyamo (SAN), has emphasized that Nigeria’s partnership with the Nigerian Air Force is crucial for building a secure and sustainable aviation sector that supports long-term national development. Speaking at the 4th African Air Forces Forum in Lagos on Friday, Keyamo highlighted how growing synergy between the Ministry and the…

Amid Managing Director and Chief Executive Officer of Fidelity Bank Plc, Nneka Onyeali-Ikpe purchasing additional N366.3 million shares, the stock price of Fidelity Bank Plc dropped to 10.34 per cent in its Week-on-Week (WoW) as investors aggressively traded the lender’s stock with caution. Fidelity Bank dropped by 10.34 per cent or N2.15 per share to close yesterday at N18.65 per…

The federal government has announced it will penalise airlines that transport passengers into Nigeria without valid entry visas, landing, or exit cards. The warning was issued by Olubunmi Tunji-Ojo, Minister of Interior, during a sensitisation programme on the new e-visa system in Lagos. Tunji-Ojo stressed that while Nigeria is simplifying entry procedures through e-visas, this will not come at the…

The managing director, Federal Airports Authority of Nigeria (FAAN),  Olubunmi Kuku, aviation shas disclosed that the aviation sector now contributes $1.7 billion to Nigeria’s gross domestic product (GDP). According to NAN report, Kuku revealed this at a book launch, titled, ‘100 Years of Civil Aviation in Nigeria’, authored by Wole Shadare, in Lagos. She said the milestone was achieved due…

African Export-Import Bank (Afreximbank) has released the consolidated financial statements of the Bank and its subsidiaries for the first quarter (Q1) ended March 31, 2025. Net loans and advances closed Q1 2025 at $27.8 billion, down from the 2024 2024 closing position reflecting early repayments from certain customers on account of improved foreign currency balances position of some sovereign borrowers.…

The Nigeria Customs Service (NCS), Adamawa/Taraba Area Command, has announced significant progress in its anti-smuggling campaign, with the recent interception of contraband items valued at N104.45 million within one month period. This was disclosed by the Customs Area Controller (CAC), Comptroller Garba Bashir, during a press conference held on Tuesday, at the Command Headquarters in Yola, Adamawa State. Comptroller Bashir…

Foreign portfolio transactions on the Nigerian Exchange Limited (NGX) declined sharply by 90.99 per cent in April 2025, falling to N63.07billion from N699.89billion recorded in March, according to the latest Domestic and Foreign Portfolio Investment report released by the NGX. The sharp drop in foreign participation followed a surge recorded in March due to large block trades that significantly boosted…

By Kunle Sanni Vice President Kashim Shettima has urged international investors to take advantage of Nigeria’s reformed economic landscape, declaring that the country is now primed for foreign investment following bold fiscal and monetary reforms. Speaking on Thursday during a meeting with top executives from Citibank, led by its Global Head of International, Ernesto Torres Cantú, at the Presidential Villa…

Losses in Nigerian Breweries Plc and 33 others pulled the Nigerian equities market lower by N273 billion, extending the negative reaction to two trading consecutive sessions. The  Nigerian Exchange Limited All-Share Index (NGX ASI) declined by 435.01 basis points or 0.40 per cent, to close  at 109,183.02 basis  points. Similarly, the overall market capitalisation value lost N273 billion to close…