Economy
-
Equities market adds N88bn in market cap amid buying interest in NB, 28 others
The equities market of the Nigerian Exchange Limited (NGX) on Wednesday sustained prior session’s gain as the overall capitalisation rose by N88 billion following buying interest in Nigerian Breweries Plc and 28 others. The NGX All-Share Index rose by 161.53basis points or 0.31 per cent, to close at 52,580.86 basis points. Similarly, the overall market capitalisation value gained N88 billion…
Read More » -
Equities market adds N103bn as investors renew interest in NB, 25 others
The equities market of the Nigerian Exchange Limited (NGX) on Tuesday extended the bullish run with a gain of N103 billion as gains in Nigerian Breweries Plc and 25 others boosted market performance. The All Share Index (ASI) went up by 188.04 points, representing a gain of 0.36 per cent to close at 52,419.33 points. Also, market capitalisation gained N103…
Read More » -
CBN’s monetary policy tightening stance is not addressing inflation rate, says Uwaleke
President of the Association of Capital Market Academics in Nigeria (ACMAN), Professor Uche Uwaleke said the monetary policy tightening stance of the Central Bank of Nigeria (CBN) has not addressed the rising inflation rate in Nigeria. Uwaleke, while reacting to National Bureau of Statistics (NBS) 22.22 per cent inflation rate for the month of April, challenged the Federal Government to…
Read More » -
I’m beneficiary of new NNPC, says Tony Elumelu
…as Aliko Dangote expresses optimism over NNPC Limited’s future President of Dangote Group, Aliko Dangote and the Chairman of Heirs Holdings, Tony Elumelu have both expressed confidence in #NNPCLimited’s huge capacity to position itself as Africa’s biggest energy company. The two leading industrialists disclosed this at the NNPC Upstream Investment Management Services (NUIMS) Annual Value Assurance Review (AVAR) Session taking…
Read More » -
REVEALED: How Tony Elumelu backstabbed me to take over my UBA shares, Ughelli Power Plant – Otedola
Billionaire businessman, Femi Otedola has accused Tony Elumelu, the chairman of the Transcorp Group, of backstabbing him to take over his shares in United Bank for Africa (UBA) and Ughelli Power Plant. Otedola made the allegations in a press statement he released Tuesday morning, in which he spoke publicly for the first time about his failed bid to take over…
Read More » -
Transcorp Power gets discharge certificate for privatization of Ughelli Power Plant
Relinquishing key national assets to only serious-minded investors is the right approach to privatization and commercialization of public assets in order to achieve efficiency of service delivery, according to Vice President Yemi Osinbajo. Prof. Osinbajo stated this on Monday at a brief ceremony to formally present the Discharge Certificate to Transcorp Power PLC for the privatization of Ughelli Power Plant…
Read More » -
Wigwe takes over leadership of France-Nigeria business council after Abdul Rabiu’s 2-term tenure
Pioneer President of the France Nigeria Business Council, Abdul Samad Rabiu, has handed over the reins of the council after a successful two year tenure to Herbert Wigwe, the Group Managing Director of Access Bank. Rabiu, the founder and Executive Chairman of BUA Group, handed over the reins to Wigwe in a ceremony held on Wednesday, marking a new chapter…
Read More » -
Dangote says refinery could save Nigeria $10bn in foreign exchange, generate $10bn exports
Africa’s richest man and owner of the Dangote Refinery, Mr. Aliko Dangote, has said with the planned commencement of the refinery located in Lagos, Nigeria could save up to $10 billion in foreign exchange (FX) and generate another $10 billion in exports when the facility begins operation. The 650,000 barrels per day Dangote Refinery, the world’s largest single-train refinery, is…
Read More » -
Max Air aircraft crash lands at Nnamdi Azikiwe International Airport
Panic gripped passengers at Nnamdi Azikiwe International Airport in Abuja on Sunday when a Max Air aircraft crash-landed following a tyre burst incident. According to Dr. Mike Ogirima, former President of the Nigeria Medical Association (NMA) who was an eyewitness, the tyre burst happened after takeoff at Yola Airport. Fortunately, the Aerodrome Rescue and Fire-fighting Service (ARFFS) promptly responded to…
Read More » -
NCC commits to creating digital job opportunities for youths through DJCY program
The Nigerian Communications Commission (NCC) has reaffirmed its commitment to creating digital job opportunities for young people in the country. Speaking at a press conference, Prof. Umar Garba Danbatta, Executive Vice Chairman/CEO of the NCC, explained that the Digital Job Creation for Youths (DJCY) program is part of the National Digital Economic Policy and Strategy, which aims to promote economic…
Read More »
