Business

The Securities and Exchange Commission (SEC) has said the Commission has reduced time to market in its bid to ensure that the capital market is now more efficient and better positioned to aid the development of the Nigerian economy. The Director General of the SEC, Dr. Emomotimi Agama, who stated this during an interview in Abuja, weekend, emphasized that the…

Dangote Peugeot Automobile Nigeria (DPAN) has ramped up its production capacity to 44,000 vehicles annually, thanks to the integration of advanced technology in its assembly processes.  Leveraging cutting-edge systems, the plant now produces up to 120 vehicles daily, boosting local manufacturing and reducing Nigeria’s reliance on imported cars. Popular Peugeot models such as the Landtrek pickup, 3008, 5008, and 508…

Mr. Ayobami Oyalowo, the Executive Director of the Osun River Basin, has said that some interventions by the Federal Government have stabilised the Foreign Exchange (FX) market and the naira. In a statement by Oyalowo on Monday, he said rather than defending the naira as claimed by some Nigerians, the Central Bank of Nigeria (CBN) took specific measures to support…

President of Dangote Industries Limited (DIL), Aliko Dangote, revealed at the weekend that his company, the Dangote Petroleum Refinery, has over N600 billion worth of Premium Motor Spirit (PMS), otherwise known as petrol in storage, to sufficiently and conveniently meet the local needs of Nigeria. The position of Africa’s richest person, counters that of the Nigerian Midstream and Downstream Petroleum…

The domestic equities market experienced a bullish performance last week, as market capitalisation rose by N96 billion or 0.29 per cent Week-on-Week (W-o-W) to close at N67.614 trillion, as a result of the cancellation of 166.95 million units of ordinary shares of Dangote Cement Plc during the week. Also, the benchmark Nigerian Exchange Limited NGX All-Share Index (ASI) rising by…

Ecobank Nigeria, a subsidiary of Ecobank Group, has teamed up with Code 14 Labs to expand the accessibility and reach of coding education for children across Nigeria. The partnership leverages Code 14 Labs’ interactive coding workbooks, including the “Andrew Teaches” coding workbook, along with its network of trained teachers, to offer affordable annual training and proficiency certification to students. As…

Following the Central Bank of Nigeria (CBN) reforms in the foreign exchange market, foreign investors’ transactions in the stock market of the Nigerian Exchange Limited (NGX) reached a total of N852.03 billion in 2024, making it the highest record since 2019. This is about 107.5per cent increase from N410.62billion total transactions recorded by foreign investors in 2023. According to the…

By Kunle Sanni President Bola Tinubu has reaffirmed his administration’s commitment to supporting financial technology companies that provide essential payment infrastructure for Nigerians and Africans. According to a statement by Bayo Onanuga, Special Adviser to the President on Information and Strategy, Tinubu made this pledge during a meeting with the leadership of Flutterwave and Alami Capital in Abuja on Saturday.…

The domestic equities market ended the week on a positive note, gaining 0.4 per cent in its week-on-week (w/w) performance as investors digested inflation data and the Central Bank of Nigeria’s (CBN) monetary policy decision.  Notably, BUA Foods Plc gained 11.9 per cent and Dangote Sugar Plc advanced by 15 per cent to drive the Nigerian Exchange Limited All-Share Index…

The Transmission Company of Nigeria has announced a planned seven-hour power outage in parts of Abuja. According to TCN, this is due to scheduled annual preventive maintenance on two transformers at the Apo 132/33kV Transmission Substation. TCN’s General Manager of Public Affairs, Ndidi Mbah, on Friday, in a statement said the maintenance would take place on Saturday, February 22, and…