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Business - Page 254

First HoldCo, Lasaco Add N244.61bn To Nigerian Stock Market

The Nigerian Exchange Limited (NGX) said the market capitalisation for the stock market increased to N95.52 trillion on Wednesday, December 17, from the N95.28 trillion posted on Tuesday, December 16, representing a N244.61 billion gain. About 383.71 basis points were added to

December 17, 2025

Naira Appreciates, Ends Week Positive Across Official, Black Markets

Business·Markets·News

FX Turnover Plummets 76% In Nigerian Market Amidst Holiday, Economic Volatility

The foreign exchange (FX) turnover on Nigeria’s official market experienced a dramatic drop of 75.98%, hitting a three-week low on Thursday. The turnover fell from $385.91 million at the end of Tuesday’s trading session to just $92.68 million. This significant decrease marks

June 14, 2024

BlackRock's iShares ETFs Worth $400m To Leave Nigeria, Kenya Amid Unfavorable Market Conditions

Africa·Business·News

BlackRock’s iShares ETFs Worth $400m To Leave Nigeria, Kenya Amid Unfavourable Market Conditions

BlackRock, one of the world’s largest asset managers, has announced plans to liquidate its iShares exchange-traded funds (ETFs) in Nigeria and Kenya, a decision impacting $400 million in assets. This move is attributed to unprofitable business environments in both countries. In a

June 14, 2024

6 Factors Behind Poor Performance Of Nigeria’s Oil & Gas Stocks This Year

Business·Markets·News

Nigerian Equity Market Recovers With N144bn Gain

The Nigerian equity market bounced back from Tuesday’s loss with a significant gain of N144 billion on Thursday. The recovery was driven by notable performances from Nigerian Breweries, Unity Bank, NEM Insurance, and 27 other companies. After the Democracy Day holiday on

June 14, 2024

Business·News

World Bank Approves $2.25bn Loan For Nigeria’s Economic Stability

The Federal Government of Nigeria has secured a loan from the World Bank, receiving a total of $2.25 billion. This funding, announced by the international lender on Thursday, is part of two major financial operations aimed at strengthening Nigeria’s economic stability and

June 14, 2024

NNPC Seeks New $2 Billion Oil-Backed Loan To Boost Finances

Business·News·Oil & Gas

NNPCL Seeks Judicial Support To Combat Crude Oil Theft, Pipeline Vandalism

The Chief Executive Officer of the Nigerian National Petroleum Corporation Limited (NNPCL), Mr. Mele Kyari, has called on the judiciary to play a crucial role in addressing the persistent issues of crude oil theft and pipeline vandalism. Kyari emphasized the need for

June 14, 2024

Africa·Business·News

ShafDB Secures Support From African Ministers For Capital Raising Initiatives

African ministers of housing, urban planning, and development have pledged to support capital-raising initiatives by the Shelter Afrique Development Bank (ShafDB). This commitment was made during the 43rd Annual General Meeting of ShafDB held in Kigali, Rwanda, focusing on financial innovations to

June 13, 2024

Nigerian Govt pushes N62,000 pay Despite Labour’s opposition, Says N250,000 Minimum Wage Demand Unsustainable

Business·News·Politics

Minimum Wage: Labour Denies Tinubu’s Claim On Agreement, Insists On N250,000

In a statement on Wednesday, the acting President of the Nigeria Labour Congress (NLC), Prince Adewale Adeyanju, announced that no agreement was reached by the Tripartite Committee on the National Minimum Wage when negotiations ended on June 7, 2024. This statement contradicts

June 13, 2024

Naira vs Dollar: What To Expect This Week (24th-30th, March 2025)

Business·Markets·News

Naira Gains Against Dollar As Market Awaits US Inflation Data

The naira made some gains against the US dollar as the dollar index moderated. Market players are awaiting the release of America’s inflation data and the Federal Reserve’s interest rate decision later today. According to price action data, naira bulls have managed

June 13, 2024

Survey: 65.8% Respondents Want Interest Rate Cut As CBN Holds MPC Meeting

Business·News

Monetary Policy Tightening May Not Curb Inflation- World Bank Warns CBN

The World Bank has cautioned that the Central Bank of Nigeria’s (CBN) aggressive monetary policy tightening may fail to control inflation and pose a significant risk to Nigeria’s economic growth. This warning was issued in the World Bank’s latest Global Economic Prospects

June 13, 2024

Petrol Landing Cost Price Now At N1,117/litre, MEMAN Reveals

Business·News·Oil & Gas

Petrol Importation Cost Rise By 31.4% Amid Reduced Consumption In Nigeria

Nigeria’s spending on petrol importation has increased, despite a substantial drop in the country’s consumption rate. Reports from the Nigeria Bureau of Statistics (NBS) reveal that N2.63 trillion was spent on importing Premium Motor Spirit (PMS) in the first quarter of 2024.

June 13, 2024

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Venezuela Condemns Trump’s Threat, Pledges to Defend Sovereignty

The government of Venezuela has condemned what it described as

Bank of Japan Poised to Lift Rates to 30-Year High as Inflation Pressures Persist

The Bank of Japan (BOJ) is set to raise its

SEC Orders Full Registration of Tradable Instruments by January 2026

The Securities and Exchange Commission (SEC) has ordered all Capital

UK Targets Sugary Milk Drinks as Government Tightens Health Levy

The UK Labour government has expanded its existing sugar tax

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Business - Page 254

First HoldCo, Lasaco Add N244.61bn To Nigerian Stock Market

FX Turnover Plummets 76% In Nigerian Market Amidst Holiday, Economic Volatility

BlackRock’s iShares ETFs Worth $400m To Leave Nigeria, Kenya Amid Unfavourable Market Conditions

Nigerian Equity Market Recovers With N144bn Gain

World Bank Approves $2.25bn Loan For Nigeria’s Economic Stability

NNPCL Seeks Judicial Support To Combat Crude Oil Theft, Pipeline Vandalism

ShafDB Secures Support From African Ministers For Capital Raising Initiatives

Minimum Wage: Labour Denies Tinubu’s Claim On Agreement, Insists On N250,000

Naira Gains Against Dollar As Market Awaits US Inflation Data

Monetary Policy Tightening May Not Curb Inflation- World Bank Warns CBN

Petrol Importation Cost Rise By 31.4% Amid Reduced Consumption In Nigeria

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Tinubu Nominates New Oil Regulators as Ahmed, Komolafe Resign

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