Business news
Acting President Yemi Osinbajo on Tuesday received the visiting Ghanaian President, Nana Akufo-Addo, at the Presidential villa, Abuja. Akufo-Addo arrived at the Villa at about 11.12 a.m. and was welcomed by Osinbajo who ushered him into the Acting President’s office through a red carpet. The visit lasted for barely four minutes as the Ghanaian leader […]
The Akwa Ibom State Governor and Interim Chairman, South-East/South-South Governors’ Forum, Mr. Udom Emmanuel, has said that refineries and petrochemical industries should be located in areas where oil is being explored. Emmanuel said this after a recent inaugural meeting of governors in the two zones. A statement on Monday quoted the governor to have said, […]
Oando Plc has reported a growth in profit-after-tax by 117 per cent to N4.6bn for the first half of 2017, compared to a loss of N26.9bn posted in the corresponding period of 2016. Thus, for the third time in a row, the oil major has posted positive financials defying speculations and bolstering confidence in the […]
The Central Bank of Nigeria on Monday offered $100m in wholesale auction at the inter-bank foreign exchange market and intervened in the Small and Medium Enterprises and invisible segments with the sums of $50m and $45m, respectively. The CBN had on Friday sold $462m as part of its intervention in the interbank forex market. The […]
The naira closed at 365 against the United States dollar at the parallel market segment of the foreign exchange market on Monday, down from 364/dollar it closed on Friday. This was despite the sales of $462m and $195m in the interbank forex market by the Central Bank of Nigeria on Friday and Monday, respectively. In […]
The Nigerian stock market slid by N352bn on Monday, as equities capitalisation dropped to N12.353bn from N12.705bn recorded on Friday. A total of 490.164 million shares worth N5.265bn exchanged hands in 5,558 deals. The NSE ASI dropped to 35,844.00 basis points from 36,864.71 basis points. The equities market commenced the week on a negative note, […]
The Minister of State for Petroleum Resources, Dr. Ibe Kachikwu, has urged the Dangote Group to expedite work on its crude oil refinery to enable it to come on stream before the end of 2019. Kachikwu stated this on Monday in Lagos during his visit to the site of the Dangote refinery. Earlier, the President/Chief […]
Dangote Cement Africa’s largest cement producer, has announced its unaudited results for the six months ended 30th June 2017, posting a 12.6 percent increase in sales volume across Africa. In the financials released on the floor of the Nigerian Stock Exchange indicated that the increase in sales volume showed a growing capture of Pan-African market […]
The Ministry of Finance; Central Bank of Nigeria, CBN; Nigeria Stock Exchange, NSE and other financial institutions have endorsed planned by the National Assembly to demutualize the nation’s capital market. A bill for an Act to facilitate the development of Nigeria’s capital market by enabling the conversion and re-registration of the Nigerian Stock Exchange from a […]
Two Pakistani Nationals and importers of consumables have been apprehended by the Standards Organisation of Nigeria Enforcement team while changing manufacturing and expiry dates of already expired imported Fruit Juice at a Warehouse located on 6, Burma Road, Apapa, Lagos. The cartel allegedly brought in the consignments under false declaration as different products to deceive […]