Business

The equities market on Tuesday declined by N1.06 trillion, making it the highest decline in 2025 amid losses in Dangote Cement Plc and 40 others. The All-Share Index (ASI) lost 1,745.16 points, representing a loss of 1.66 per cent to close at 103,622.09 points. Also, market capitalisation declined by N1.064 trillion to close at N63.188 trillion. As measured by market…

Minister of power, Adebayo Adelabu says Nigeria’s power generation increased by 34 per cent in 2024. Adelabu spoke during a budget defence session with the senate committee on power on Monday. The minister said his administration inherited an average generation capacity of 4,100 megawatts (MW) in 2023 and raised it to 5,528 MW by the end of 2024. “I can…

The Debt Management Office (DMO), has announced the subscription window for the Federal Government Savings Bonds (FGN Savings Bonds) for January 2025. This initiative invites both individual and institutional investors to participate from January 13 to January 17, 2025. The bond offering for January 2025 features two options: a two-year savings bond maturing on January 22, 2027, with an interest…

…as NAHCON signs MoU in Saudi Arabia By Kunle Sanni The National Hajj Commission of Nigeria (NAHCON) has announced the selection of four airlines to airlift Nigerian Muslim pilgrims for the 2025 Hajj. According to a statement from the Presidential Villa, the Presidency approved the carriers following a rigorous screening process involving 11 applicants. The approved airlines are Air Peace…

By Innocent Raphael General Hydrocarbons Limited (GHL) has refuted allegations that it owes First Bank of Nigeria (FBN) $225.8 million, emphasizing that a moratorium period remains in place until the company achieves commercial oil production. This was outlined in a press statement signed by Abdelmuizz Bello, Director of Strategy & Operations at GHL, in response to recent media reports surrounding…

The Nigerian Exchange Limited All-Share Index (NGX ASI) gained by 1.80 per cent week-on-week (W-o-W) to close at 105,451.06 basis points. Likewise, market capitalisation rose by N1.14 trillion to close the week at N64.303 trillion. On the sectoral front, performance was largely negative. The NGX Banking index recorded a weekly gain of 1.94 per cent week-on-week. However, the NGX Insurance…

The Lagos State Internal Revenue Service (LIRS) has issued a reminder to all employers in Lagos State to fulfill their statutory obligation to file annual tax returns for the 2024 financial year on or before January 31, 2025. This requirement is in line with the Personal Income Tax Act (PITA) Cap P8 LFN 2004 (as amended). In an official statement,…

The Federal Government has reiterated its commitment to strengthening the capital market to promote wealth creation for Nigerians and support national development. The Minister of State for Finance, Dr. Doris Uzoka-Anite stated this during a meeting with members of the board of the Securities and Exchange Commission in Abuja, over the weekend. Uzoka-Anite said the Ministry has been given the…

Group CEO of Nigerian Exchange Group Plc (NGX Group), Temi Popoola reiterated the transformative potential of Africa’s capital markets at the launch of the Ethiopian Securities Exchange (ESX). Speaking at the event, Popoola emphasized the need for stronger regional collaboration, government-private sector synergy, and innovative market solutions to unlock the continent’s economic potential. NGX Group’s strategic investment in ESX underscores…

The market capitalisation of 10 Deposit Money Banks (DMBs) rose to N7.87 trillion in 2024 despite investors trading the financial institution stocks with caution.  The overall market capitalisation of the Nigerian Exchange Limited (NGX) increased to N62.76trillion on the stock market The NGX banking Index that witnessed mixed reactions in 2024, however, closed positive amid impressive corporate earnings by listed…