Economy
-
-
Dangote Refinery game changer for Nigeria’s economy, says Buhari
President Muhammadu Buhari has described the newly inaugurated Dangote Petroleum Refinery in Ibeju-Lekki, Lagos as a significant milestone for Nigeria’s economy and a game changer for the downstream petroleum products market in the entire African region. The refinery, which was inaugurated by President Buhari on Monday in an event attended by Heads of State from Ghana, Togo, Niger, Senegal and…
Read More » -
FCMB Founder, Subomi Balogun dies at 89 in London
It was a black Friday for the FCMB Group as its founder, Otunba Subomi Balogun, died in London at 89-year-old. He celebrated his 89th birthday in March. He was an alumnus of Igbobi College and studied law at the London School of Economics. The deceased practised as a lawyer in the regional justice ministry and then at the federal ministry of…
Read More » -
FAAC: FG, states, LGs share N655.932bn for April
The Federation Account Allocation Committee (FAAC) has given N655.932 billion in revenue for April to the federal, state and local governments. According to a statement by Bawa Mokwa, a spokesman for the office of the accountant of the federation (OAGF), this is contained in a communiqué issued at the end of the FAAC meeting for May 2023. The communique states…
Read More » -
Buhari launches Kashimbila Multipurpose Dam as Nigeria targets 30GW by 2030
President Muhammadu Buhari on Thursday inaugurated the Kashimbila Multipurpose Dam, 40MW Hydropower Station and Associated 132KV Switchyard, Transmission Line and Distribution Substation (Phase I) Project, located at the Kashimbila Dam site in Taraba State. Speaking at a virtual ceremony held at the Council Chamber, State House, Abuja, the President underscored the importance of the project, highlighting its role in his…
Read More » -
FEC grants approval for concessioning of Abuja, Kano airports
The Federal Executive Council (FEC) has granted approval for the concessioning of the Nnamdi Azikiwe International Airport in Abuja and the Mallam Aminu Kano International Airport in Kano. The decision was reached during a meeting held on Wednesday and chaired by President Muhammadu Buhari. Hadi Sirika, the Minister of Aviation, addressed journalists after the meeting, stating that the concessioning of…
Read More » -
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 »
Follow our WhatsApp Channel