Fakoyejo Olalekan, Author at Prime Business Africa

Why Oil Sector Contribution To Nigeria’s GDP Plummeted By N470bn

The oil sector’s contribution to Nigeria’s Gross Domestic Product (GDP) fell by 13.7 per cent between the first and second quarters of 2023 according to data obtained from the National Bureau of

Fakoyejo Olalekan

8 months ago

Business·Markets

See List Of Gainers, Losers, As Stock Market Cap Hits N36.20trn

At the end of trading on Monday, the Nigerian stock market recorded an increase of about N320 billion in equity capitalisation, which is 1.14 per cent growth. This raised the stock market

Fakoyejo Olalekan

8 months ago

Nigerian Stock Market Opens 2024 On A High Note As Investors Gain N666bn

Business·Insights·Markets

Foreign Investors Drop Equity Investments To 6.5%, Stock Market Total Transactions Hit N702.9bn

The capital market authority, the Nigerian Exchange Limited (NGX), has disclosed that the total transactions recorded by domestic and foreign equity investors was N702.9 billion in July 2023. According to a report

Fakoyejo Olalekan

8 months ago

Business

Tinubu Says Reforms To Cut Debt Service To Revenue Ratio Will Be Painful For Nigerians

President Bola Tinubu has stated that Nigeria is on the path of destruction should the country continue to service its debt with 90 per cent of revenue generated. Tinubu said difficult changes

Fakoyejo Olalekan

8 months ago

Business·Insights

Road Transportation GDP Contribution Falls By N558.05bn, Factors Behind Decline

In the second quarter of 2022, the Nigerian government recorded a 46.70 per cent or N558.05bn year-on-year drop in the contribution of road transportation to the country’s economy. At the end of

Fakoyejo Olalekan

8 months ago

Forex: Naira Ends Week On Positives Note With N1,431/$ At Official Market

Business·Currency

Dollar Sells At N778/$1 In CBN-backed Official Window, Stabilises In Black Market

In the Investors’ and Exporters’ window of the official market on Friday, the United States Dollar (USD) rate closed at N778.42/$1, up from N771.69/$1 reported on Thursday. This is according to the

Fakoyejo Olalekan

8 months ago

Business·Markets

Stock Market Records N4.23bn Investments, Bourse Cap Rises To N35.88trn

The capital market authority, the Nigerian Exchange Limited (NGX), revealed the bourse appreciated by 0.24 per cent or N85.97 billion on Friday. Following the increase, the Nigerian stock market capitalisation jumped from

Fakoyejo Olalekan

8 months ago

Nigeria's GDP Growth Hit 2.51% In Second Quarter 2023 - NBS Reports

Business

Updated: Oil Sector Slows Nigeria’s Q2 GDP Growth, Economy Hits N52.10trn

Nigeria’s Gross Domestic Product (GDP) grew by 2.51 per cent (year-on-year) in real terms in the second quarter of 2023, up from 2.31 per cent recorded in the first quarter of 2023.

Fakoyejo Olalekan

8 months ago

The International Monetary Fund (IMF) sheds light on the concerning fiscal landscape faced by low-income countries, highlighting Nigeria's growing debt burden.

Business·Oil & Gas

IMF Backs Fuel Subsidy Removal, As Gov’ts Spend $7trn To Lower Prices

About $7 trillion was spent globally on explicit and implicit fossil-fuel subsidies in 2022, the International Monetary Fund (IMF) revealed in a new report. With the cost of subsidies rising by $2

Fakoyejo Olalekan

8 months ago

Business·Currency

Black Market, Official Window Forex Dealers Drop Dollar Rate

Authorised dealers and their clients traded the dollar at the rate of N771.69/$1 at the close of trading in the Investors’ and Exporters’ (I&E) window of the official market on Thursday. This

Fakoyejo Olalekan

8 months ago

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Fakoyejo Olalekan

Why Oil Sector Contribution To Nigeria’s GDP Plummeted By N470bn

See List Of Gainers, Losers, As Stock Market Cap Hits N36.20trn

Foreign Investors Drop Equity Investments To 6.5%, Stock Market Total Transactions Hit N702.9bn

Tinubu Says Reforms To Cut Debt Service To Revenue Ratio Will Be Painful For Nigerians

Road Transportation GDP Contribution Falls By N558.05bn, Factors Behind Decline

Dollar Sells At N778/$1 In CBN-backed Official Window, Stabilises In Black Market

Stock Market Records N4.23bn Investments, Bourse Cap Rises To N35.88trn

Updated: Oil Sector Slows Nigeria’s Q2 GDP Growth, Economy Hits N52.10trn

IMF Backs Fuel Subsidy Removal, As Gov’ts Spend $7trn To Lower Prices

Black Market, Official Window Forex Dealers Drop Dollar Rate

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