Investors in the Nigerian Exchange stock market on Tuesday further lost N104 billion or 0.18 per cent, as the market capitalisation which opened at N58.879 trillion, closed at N58.775 trillion. Similarly, the All-Share Index shed 0.18 per cent to settle at 103,952.47, as against 104,136.35 recorded on Monday. Consequently,...
BUSINESS
The Ministry of Petroleum Resources has been interacting with stakeholders to obtain industry alignment and participation in carrying out its Executive Order issued by President Bola Tinubu. Minister of State Petroleum Resources (Gas), Mr Ekperikpe Ekpo, said this on Tuesday in Abuja in his keynote address at the...
The Monetary Policy Committee (MPC) of the Central Bank of Nigeria (CBN) raised Monetary Policy Rate (MPR) – inter-bank loan interest rate – by 200 basis points, to 24.75 per cent from 22.75 per cent on Tuesday. MPR is a short-term, often overnight rate that banks charge one...
An Oil and Gas expert, Mr Emmanuel Iheanacho, has said the improvement observed in the value of the naira, would not bring about an automatic reduction of petroleum pump price. Iheanacho, Chairman, Integrated Oil and Gas Ltd, said in an interview with the News Agency of Nigeria (NAN)...
The Nigerian Copyright Commission (NCC), has filed criminal charges against MTN Nigeria Communications Ltd. and four others over alleged copyright infringement. The charge with Number FHC/ABJ/CR/111/2024 filed in the Federal High Court, Abuja Division was obtained by the News Agency of Nigeria (NAN) on Monday. The four other defendants...
The Ministry of Petroleum Resources as well as its agencies and parastatals are expected to brainstorm on emerging developments in the oil and gas industry, at a sectoral retreat scheduled to hold in Abuja. Deputy Director, Press and Public Relations, Ministry of Petroleum Resources, Mrs Oluwakemi Ogunmakinwa, said...
By CALLISTUS OFFOR, Abuja – Nigeria Government has called for a coordinated and multilateral approach by the region to protect shared telecommunications infrastructure, and diversify connectivity to ensure uninterruptible connections. NATIONAL ACCORD reports that the call follows the recent undersea cable cuts that challenged connectivities in many...
The National Bureau of Statistics (NBS) has said the average price of 5kg of cooking gas increased from N5,139.25 recorded in January, 2023 to N6,154.50 in February, 2024. NBS disclosed this its “Cooking Gas Price Watch’’ for February, 2024 released on Saturday in Abuja. The report said the...
A Smartphone Company, Infinix Mobile on Friday unveiled its Note 40 series, and announced its partnership with an online subscription video-on-demand service, Showmax. The announcement was made at the Infinix Note 40 series media parley in Lagos on Friday. Speaking about the partnership, a Showmax Representative, Mr Uche...
The financial services industry, measured by volume led the activity chart of the Nigerian Exchange Ltd.(NGX) with 1.273 billion shares valued at N31.08 billion traded in 23,066 deals to close the week. Specifically, the industry contributed 73.36 per cent and 63.74 per cent to the total equity turnover...
The Naira experienced a slight appreciation at the official market, trading at N1,431.49 to a dollar on Friday. Data from the official trading platform of the FMDQ revealed that the Naira strengthened by N21.79 or 1.5 per cent, compared to the previous day’s rate of N1,453.28 against...
Nigeria’s public debt stock as at Dec. 31, 2023 was N97.341 trillion (108.229 billion dollars), according to data released by the Debt Management Office (DMO) on Friday in Abuja. The DMO said that the amount comprised domestic and external debt stocks of the Federal Government, the...
By PATRICK ABANG, Calabar – Lafarge Holcim Africa PLC is to Commissioned a 20km road from Mfarmosing to Odukpani junction in Cross River State. The concrete road that has lasted for over ten years was initiated during Liyel Imoke administration by the cement giant. The head of Corporate Commutation...
The First Bank of Nigeria Ltd. has assured its customers of opportunities to experience world-class innovative banking services through the bank’s Digital Xperience centres. First Bank Managing Director Adesola Adeduntan announced this at the inauguration of the bank’s Digital Xperience centre in Banana Island, Ikoyi, Lagos, on Wednesday....
Access Holdings Plc says its subsidiary, Access Bank Plc, is in the process of acquiring the entire issued share capital of National Bank of Kenya Ltd. (NBK). The bank’s Company Secretary, Mr Sunday Ekwochi, said this in a notification sent to the Nigerian Exchange Ltd.(NGX) on Wednesday in...
The Central Bank of Nigeria (CBN) has announced that all valid foreign exchange backlogs of s$7 billion have now been settled, fulfilling a key pledge of its Governor, Mr. Olayemi Cardosoo. In a statement on Wednesday, the apex bank’s Acting Director, Corporate Communications, Mrs Hakama Sidi Ali, in...
FirstBank of Nigeria Ltd., has rewarded six customers across the nation with a million Naira each in the 4th and final edition of its “Win Big Promo” draw, which started on Oct. 23, 2023. The News Agency of Nigeria (NAN) reports that the promo climaxed on...
The National Bureau of Statistics (NBS), says the average retail price of a litre of petrol increased from N263.76 in February 2023 to N679.36 in February 2024. The bureau said this in its Petrol Price Watch for February 2024, released in Abuja on Wednesday. It said that the...
• As experts warn that anthropogenic sources account for 60% methane emissions Concerned stakeholders in the environment protection space have expressed alarm that more than fossil fuel, that human-induced or anthropogenic methane emissions, have emerged as the new threat to Nigerians. Rising from a seminar in Port Harcourt, Rivers...