Ecobank Nigeria has rewarded 88 customers with N8 million during its monthly and quarterly raffle draws under the ‘Ecobank Super Rewards, the Millionaire Geng Season’. The News Agency of Nigeria (NAN) reports that 80 customers won N50,000 each in the September draw, totaling N4 million, while eight winners...
BUSINESS
The Federal Government has said it is putting sustainable mechanisms in place to build a $1 trillion economy by 2030 through financial inclusion. Deputy Chief of Staff to the President, Office of the Vice President, Sen. Ibrahim Hadejia, disclosed this on Thursday in Benin. Hadejia spoke at the 8th...
The stock market reversed its gain on Wednesday, losing N148 billion or 0.25 per cent amid selling pressure in several key stocks. The decline was primarily driven by selloffs in Aradel Holdings, Zenith Bank, FBN Holdings, Access Corporation, and Fidelity Bank, among others. As a result, the market capitalisation,...
UBA Foundation, the Corporate Social Responsibility (CSR) arm of the United Bank for Africa (UBA) Plc, has launched the 2024 edition of its prestigious National Essay Competition (NEC), unveiling a significant 100% increase in the educational grants for top winners. Now in its 14th year, the NEC is an...
The Governor, Central Bank of Nigeria (CBN), Mr Yemi Cardoso, has said that the government was increasing financial inclusion for women as a top priority. Cardoso said this during a question-and-answer session at the 30th Nigeria Economic Summit (NES30) in Abuja on Wednesday. He said that the CBN was...
The Nigerian stock market extended its positive momentum on Tuesday, posting a 0.33 per cent gain. This gain added N197 billion to investors’ portfolios. The market capitalisation, which opened at N59.510 trillion, closed higher at N59.707 trillion. Similarly, the All-Share Index (ASI) rose by 0.33 per cent, advancing by...
Chairman of Federal Inland Revenue Service (FIRS), Zacch Adedeji, has allayed the fears of Nigerians on possible introduction of new taxes through proposed tax reform laws. Adedeji made this known during an interactive session with members of the Senate Committee on Finance in Abuja on Tuesday. He assured Nigerians...
The National Bureau of Statistics (NBS), says Nigeria’s headline inflation rate increased to 32.70 per cent in September 2024. The Statistician-General of the Federation, Adeyemi Adeniran, revealed this in a statement issued on the Consumer Price Index (CPI) and Inflation Report for September 2024 in Abuja on Tuesday. According...
MTN Nigeria and other multinational business owners have appealed to the Federal Government to create a level playing field to enable businesses to sustain their investments in the country. They made the appeal during a panel session at the 30th Nigerian Economic Summit (NES) in Abuja on Tuesday. The...
The Nigerian stock market started the week on a bullish note, with the listing of Aradel Holdings stocks contributing N3.42 trillion to the Nigerian Exchange Ltd.(NGX) market capitalisation. The News Agency of Nigeria (NAN) reports that Aradel Holdings officially listed its shares by introduction on the Main Board of...
Executive Chairman of the Federal Inland Revenue Service (FIRS), Dr. Zacch Adedeji, recently paid a courtesy visit the to the Head quaters of the Bureau of Public Enterprises(BPE) in Maitama, Abuja.
Dangote Group is looking to start production at its two Nigerian oil assets in the fourth quarter of 2024, after enduring months of crude supply woes, a report by S&P Global Commodity Insights has said. The report quoting company sources said Dangote is currently seeking a floating production, storage...
The SPDC Joint Venture partners have signed a Gas Sales and Purchase Agreement (GSPA) for the $3.5 billion Brass Fertiliser and Petrochemical Company Limited (BFPCL) project. The SPDC JV partners, comprising NNPC Ltd, Shell Petroleum Development Company (SPDC), TotalEnergies Ltd. and Eni would supply 270 million standard cubic feet...
To end the week, the stock market rebounded from previous losses, gaining N74 billion. Investor interest in MTN Nigeria, FBN Holdings, Guaranty Trust Holding Company (GTCO) and other equities lifted the market. Notably, the market capitalisation opened at N56.014 trillion, adding N74 billion or 0.13 per cent to close...
The Federal Government has given approval for marketers to begin the lifting of premium motor spirit commonly known as fuel from the Dangote Refinery without going through the Nigerian National Petroleum Company Limited (NNPCL). According to a Friday statement by the Minister of Finance and the Coordinating Minister of...
The Nigerian Electricity Regulatory Commission (NERC) has said the total revenue collected by all Electricity Distribution Companies (DisCos) in quarter two hit N431.16 billion. The commission made this known on its Website in its second quarter 2024 report in Abuja on Thursday. The report said that the N431.16 billion...
The Independent Petroleum Marketers Association Of Nigeria (IPMAN) has attributed the recent adjustment in the price of premium motor spirit better known as fuel to the impacts of the deregulation of the sector. “Well, we know now that we cannot call it an increase but rather we can call...
The Naira on Wednesday depreciated at the official market, trading at N1,625.13 to the dollar. Data from the FMDQ Exchange, a platform that oversees the Nigerian Autonomous Foreign Exchange Market (NAFEM), revealed that the Naira lost N63.37. This represents a 4.05 per cent loss when compared to the previous...
The Naira on Tuesday appreciated by N73.39 at the official market, trading at N1,561.76 to the dollar. Data from the official trading platform of the FMDQ Exchange revealed this. This represents a 4.48 per cent gain when compared to the previous trading date on Monday when it exchanged at...
The President of Dangote Group, Alhaji Aliko Dangote, on Tuesday, said that the Dangote Refinery was constructed without any government incentives. Dangote made this known during his keynote address at the Crude Oil Refinery Owners Association of Nigeria (CORAN) Summit in Lagos. The Summit has the theme,”Making Nigeria...