Business

The National Bureau of Statistics (NBS) on Tuesday disclosed that at the end      of            2021,     tax-to-Gross Domestic Product (GDP) ratio stood at 10.86 per cent for Nigeria   compared to an estimated six per cent previously reported.                According to NBS report, revenue from oil taxes in 2021 stood at N2.15trillion from N1.65trillion in 2020, while non-oil taxes was at N16.7trillion in 2021…

BUA Cement Plc has announced on the Nigerian Exchange Limited (NGX) that it had secured a $500 million facility from the International Finance Corporation (IFC) and partners to develop energy-efficient cement production capacity and strengthen its equipment and logistics capabilities in northern Nigeria. The company, in a statement, said this investment, marked the largest-ever investment by IFC, will create up…

…2nd in Sustainability brand in Africa among top 100 brands For the sixth consecutive year, the Dangote brand has been adjudged as the Most Admired African Brand among top 100 brands in the continent. Dangote, as the most Admired African when respondents are prompted to recall an African brand specifically was followed by the Telecommunication outfit, MTN in the second…

The Securities and Exchange Commission (SEC) has expressed its determination to deepen and diversify the capital market in a bid to create more wealth for investors and Nigerians as well as stimulate economic growth. This was stated by the Director General of the SEC, Mr. Lamido Yuguda during a meeting at the weekend. He stated that when capital markets are…

Following the recent review of its Differential Premium Assessment System (DPAS) Framework, the Nigeria Deposit Insurance Corporation (NDIC) has sought input from critical stakeholders towards making the document more robust and all-embracing. In a release by the Director, of Communication and Public Affairs Department, Bashir Alhassan Nuhu, the NDIC said the Differential Premium Assessment System Framework was reviewed to make…

FBN Holdings Plc on Friday reported 5.26 per cent drop in profit before tax over hike in total operating expenses in the full year ended December 31, 2022. The Holdings’ reported profit before tax dropped to N157.9billion in 2022 from N166.66billion reported in 2021, while profit after tax dropped by nearly 10 per cent to N136.31billion in 2022 from N151.15billion…

Access Bank Plc has launched a French Business Desk to strengthen business relationships between Nigeria and France. This followed the opening in Paris earlier this month the first subsidiary of the bank in the European Union. The Access Bank French Desk in partnership with Business France, was created as a platform to connect French and Nigerian companies, providing them with…

Starting the new month of June, the domestic equities of the Nigerian Exchange Limited (NGX) extended the bullish run for the fourth consecutive session as the overall market indicator rose by 0.07 per cent to settle at 55,808.25 basis points. Also, market capitalisation rose by N21 billion to close at N30.388 trillion. The upturn was driven by price depreciation in…

With the assumption of office of President Bola Ahmed Tinubu, the Securities and Exchange Commission (SEC) has assured of the readiness of the capital market to aid in infrastructure development. This assurance was given by Director General of the SEC, Mr. Lamido Yuguda during an interview on Thursday. Yuguda expressed the belief that the Nigerian Capital Market, being an organised…

Closing the month of May, the stock market of the Nigerian Exchange Limited (NGX) on Wednesday ended mixed with a bullish tilt as the overall market capitalization gained N17 billion. The All-Share Index rose by 30.93 per cent or 0.06 per cent, to close at 55,769.28 basis points. Similarly, the overall market capitalisation value gained N17 billion to close at…