Fakoyejo Olalekan, Author at Prime Business Africa

How Loss Of Over $5 Trillion In U.S. Stock Exchange Affects Nigeria

Investors In Stock Market Lost N27.80bn, As Equity Cap Record Steep Drop

Over N27.80 billion was lost in the Nigerian stock market on Wednesday as Ikeja Hotel, Transcorp Plc and some other equities suffered a decline in their share value. The loss dragged the stock market capitalisation down by 0.07 per cent to N36.36

August 30, 2023

NNPCL Denies Inflating Fuel Subsidy Payments

Business·Oil & Gas

Nigeria Records 164 Crude Oil Theft Incidents In One Week

The Nigerian National Petroleum Company (NNPC) Limited revealed that between 19 to 25 August 2023, about 164 crude oil theft incidents were recorded amid declining oil output. Of the total crude oil theft, 49 cases of unauthorised refineries were discovered, 41 illegal

August 30, 2023

Business

Okonjo-Iweala Warns Of Higher Inflationary Pressures, Greater Price Volatility Over Bloc Trades

The Director-General of the World Trade Organization (WTO), Ngozi Okonjo-Iweala, said countries not operating open trade could experience higher inflationary pressures. Okonjo-Iweala said nations adopting rival blocs will cause greater price volatility, diminished competitive pressures and result in weaker economic growth. “A

August 30, 2023

Naira Vs Dollar: What To Expect This Week (2nd - 6th June 2025)

Business·Currency

Official Window, Black Market Dollar Rates Rise As Naira Depreciates

On Tuesday, the naira dropped in value by 0.41 per cent, as the exchange rate to the dollar settled at N775.34/$1 in the Investors’ and Exporters’ window of the official market. The day before, the exchange rate between both the United States

August 30, 2023

Tinubu Set To Attend COP 28 Summit In Dubai

Business·Oil & Gas

Diesel Price To Rise, As FG Moves To Charge VAT After Oil Sector GDP Contribution Drops

The price of diesel might rise as the Nigeria Customs Service (NCS) is set to implement a value-added tax (VAT) on imported automobile gas oil (AGO), also known as diesel. According to a report by the National Bureau of Statistics (NBS), a

August 30, 2023

USAir Peace CEO Reveals Why Airline Is Yet To List On Capital Market

Business

Ethnic Nationalism Has Slowed Nigeria’s Development – Onyema

…Says Harsh Operating Environment Stunts Growth of Local Businesses The Chairman of Air Peace, Barrister Allen Onyema, has said the practice of ethnic nationalism has slowed Nigeria’s development while also stressing that the country’s ease of doing business is poor. Onyema made

August 29, 2023

Bulls Charge Ahead As NGX Shatters Records As Market Cap Surpasses N50trn

Business·Markets

Champion Brew, Dangote Sugar Raise Stock Market Cap By N185.51bn

Nigerian bourse’s valuation appreciated by 0.51 per cent on Tuesday, as the stock market capitalisation closed at N36.39 trillion. The market capitalisation rose from N36.20 trillion reported on Monday, indicating a gain of N185.51 billion during trading today. Similarly, the All-Share Index

August 29, 2023

Business

Dangote Cement GMD Defends Company’s Prices After Criticism

Dangote Cement’s Group Managing Director, Arvind Pathak, has disclosed that the company is not to blame for the price retailers sell its products to customers. Pathak in a statement said Dangote Cement sells the product at ex-factory prices of N4,010 in Okpella

August 29, 2023

Business

World Bank, IMF, CBN Accused Of Sabotaging Nigeria, China Swap Deal Amid Low Utilisation

The World Bank and the International Monetary Fund (IMF) have been accused by a human rights lawyer, Femi Falana, of sabotaging the Nigeria and China swap deal. Falana said the global financial institutions are working with the Central Bank of Nigeria (CBN)

August 29, 2023

Naira Ends Week With N59.71 Gain At Official Market

Business·Currency

Authorised Dealers Increase Dollar Rates In Black Market, Official Window

The official market aggregator, FMDQ Exchange, reported that the naira to dollar exchange rate closed at N772.12/$1 in the Investors’ and Exporters’ (I&E) window of the official market on Monday. According to the report, the authorised dealers raised the exchange rate between

August 29, 2023

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Fakoyejo Olalekan

Investors In Stock Market Lost N27.80bn, As Equity Cap Record Steep Drop

Nigeria Records 164 Crude Oil Theft Incidents In One Week

Okonjo-Iweala Warns Of Higher Inflationary Pressures, Greater Price Volatility Over Bloc Trades

Official Window, Black Market Dollar Rates Rise As Naira Depreciates

Diesel Price To Rise, As FG Moves To Charge VAT After Oil Sector GDP Contribution Drops

Ethnic Nationalism Has Slowed Nigeria’s Development – Onyema

Champion Brew, Dangote Sugar Raise Stock Market Cap By N185.51bn

Dangote Cement GMD Defends Company’s Prices After Criticism

World Bank, IMF, CBN Accused Of Sabotaging Nigeria, China Swap Deal Amid Low Utilisation

Authorised Dealers Increase Dollar Rates In Black Market, Official Window

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