Business

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…

Tony Elumelu, founder of Heirs Energies, has emphasized the need for increased oil production to generate revenue for Nigeria’s economic diversification. Speaking at the 2025 Heirs Energies Petroleum Industry Leadership Forum on Thursday in Abuja, Elumelu highlighted the importance of massive investments in oil and gas to sustain industrialization and ensure energy security. “We cannot industrialize Africa, especially Nigeria, without…

A group of analysts at Cordros Research have hinted on the Nigerian Exchange Limited (NGX) equities market section to respond positively to the Monetary Policy Committee (MPC) members of the Central Bank of Nigeria (CBN) to pause interest rate or Monetary Policy Rate (MPR) hikes as investors assess the likelihood of policy easing in the medium term.  The MPC of…

…As Society celebrates 64 years of existence A research Director of the National Agency for Science and Engineering Infrastructure (NASENI), Engr. Dr. Samuel Olusunle has been conferred with the prestigious Fellow of Nigerian Mining and Geosciences Society (FNMGS), one of the oldest professional bodies in the history of Nigeria. The Nigeria’s late sage, Pan Africanist and President during the First…

The Governor, Central Bank of Nigeria (CBN) on Thursday revealed that Nigeria’s external reserves remained robust at $39.4 billion as of 14th February 2025, translating to an import cover of 9.6 months for goods and services.  Speaking after the first Monetary Policy Committee (MPC) meeting in 2025, Cardoso revealed that the Balance of Payments has remained strong with a positive…