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Business - Page 481

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

NGX Records N63.83bn Share Trades Within Three Days

A total turnover of 2.87 billion shares, worth N63.83 billion, was traded in 80,229 deals by investors on the floor of the Nigerian Exchange (NGX) between Monday and Wednesday. The NGX, also known as the stock market, opened for three trading days

December 25, 2025

Business·News

ATI Supports Deutsche Bank’s $305 Million Road Project In Angola

Key Points ATI has supported a loan by Deutsche Bank, valued at USD 305 million, to Angola’s Ministry of Finance, to support the construction and rehabilitation of a national road project. The infrastructure project is a priority for the Government of Angola

June 23, 2023

Business·Insights

Electricity Supply Costs Nigerians N247.33bn, New Report Shows

The National Bureau of Statistics (NBS) data on revenue generated by electricity Distribution Companies (DisCos) showed that Nigerians spent N247.33 billion on power supply in the first quarter (Q1) of 2023. This surpassed the N204.74 billion the DisCos generated from electricity supply

June 23, 2023

Business

NLC Moves Against 40% Electricity Tariff Increase

The plan to increase electricity tariff by 40 per cent from 1 July 2023 has been criticised by the workers union, Nigeria Labour Congress (NLC). Reacting to the tariff hike on behalf of the group, NLC president, Joe Ajaero, described the increase

June 23, 2023

CBN Releases Another Around Of $10,000 FX To Each BDC, Mandates Them To Sell At N1,117/$1

Business·Currency

BDC Operators, Official Market Increase Dollar, Pound And Euro Rates

The foreign exchange rates rose across the official market and the black market on Thursday, according to reports from the FMDQ Exchange and Naira Rates. Data obtained from FMDQ Exchange, the official market aggregator, showed that the naira to dollar exchange rate

June 23, 2023

Business·Markets

Investors In Unity Bank, Ikeja Hotel, Others Lose N61.35bn In Stock Market Trading

In the stock market on Thursday, N61.35 billion was lost by investors in Unity Bank, Ikeja Hotel, and others on the losers’ list. This dragged the market capitalisation down by 0.18 per cent to N32.24 trillion, from N32.30 trillion reported on Wednesday.

June 22, 2023

Business·News

Uber Increases Fares To Cover Cost Of Fuel Subsidy Removal

E-hailing platform, Uber Nigeria has announced an increase in fares to help drivers cover the recent increase in fuel costs and inflation rate. Uber, in a statement attributed by Tope Akinwumi, Country Manager for Uber in Nigeria, said the fare adjustment is

June 22, 2023

Business·News

e-Naira: CBN Tasks Tertiary Institutions To Deploy For Tuition, Salaries

Students and management of tertiary institutions in Nigeria have been urged to embrace the e-Naira for payment of school fees and salaries. The Central Bank of Nigeria on Thursday made the call through Assistant Director, Ekiti branch, Mr Ayodeji Adeboye. Adeboye said

June 22, 2023

Business

Moghalu, British Gov’t Support Tinubu’s Fuel Subsidy Removal, Forex Reforms

The former Deputy Governor of the Central Bank of Nigeria (CBN), Kingsley Moghalu, and the British High Commissioner to Nigeria, Richard Montgomery, have both backed the economic reforms of President Bola Tinubu. Moghalu and Montgomery, in two separate interviews, said the fuel

June 22, 2023

Business·News

Fuel Subsidy: NEITI Probes Fuel Consumption Figures

The Nigeria Extractive Industries Transparency Initiative (NEITI) has stated that it is conducting a study to determine the accurate consumption figure of fuel in the country because it does not believe in the figures being peddled by government agencies. The organisation, through

June 22, 2023

Moghalu Highlights How Trump’s Presidency Will Affect African Economies

Business

Moghalu Warns Tinubu Against Making Naira Stronger, Says It Makes Import Cheaper

The former Presidential aspirant, Kingsley Moghalu, cautioned President Bola Tinubu against being fixated on a stronger naira, as it could affect the exportation drive. Moghalu said Nigeria having a stronger naira could make the country an import-dependent economy. He made this known

June 22, 2023

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Nigeria Launches N590bn Power Sector Bond to Clear GENCO, Gas Arrears

The Federal Government of Nigeria has issued its debut bond

Dollar Trades Flat In Black Market, Appreciates In Official Window

The dollar traded at N1,487.01/$1 in the parallel market on

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

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Business - Page 481

ATI Supports Deutsche Bank’s $305 Million Road Project In Angola

Electricity Supply Costs Nigerians N247.33bn, New Report Shows

NLC Moves Against 40% Electricity Tariff Increase

BDC Operators, Official Market Increase Dollar, Pound And Euro Rates

Investors In Unity Bank, Ikeja Hotel, Others Lose N61.35bn In Stock Market Trading

Uber Increases Fares To Cover Cost Of Fuel Subsidy Removal

e-Naira: CBN Tasks Tertiary Institutions To Deploy For Tuition, Salaries

Moghalu, British Gov’t Support Tinubu’s Fuel Subsidy Removal, Forex Reforms

Fuel Subsidy: NEITI Probes Fuel Consumption Figures

Moghalu Warns Tinubu Against Making Naira Stronger, Says It Makes Import Cheaper

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