BUA Cement to List Shares on NSE Thursday

By Dipo Olowookere Profit-taking activities brought back the bears to the floor of the Nigerian Exchange (NGX) Limited on Monday as investors rebalanced their portfolios. It was observed that traders at Customs Street booked profits in shares mostly in the industrial goods sectors like BUA Cement and Lafarge Africa. This resultantly brought down the local stock market by 0.66 per cent at the close of transactions, with the industrial goods space losing 4.21 per cent, the insurance counter declining by 0.28 per cent, and the energy sector falling by 0.01 per cent. However, the consumer goods index improved yesterday by

By Adedapo Adesanya  The Nigerian Midstream and Downstream Petroleum Regulatory Authority (NMDPRA) has projected that its Industry Sustainability Initiative (NISI) will create over $575 billion in capital investment opportunities for Nigeria through the decarbonisation of operations. According to a statement, NMDPRA, while hosting a session on Nigeria’s Pathway to Energy Sustainability and NMDPRA’s Role at the UN Climate Change Conference 2023 (COP28) in Dubai, UAE, x-rayed Nigeria’s journey towards reducing carbon emission and achieving Net Zero by 2060. Speaking at the event, Mr Mustapha Lamorde, the authority’s Executive Director on Health, Safety, Environment and Community (HSEC), said the investment would be

By Adedapo Adesanya Oil slumped by more than 2 per cent on Friday as traders showed scepticism about the depth of supply cuts by the Organisation of the Petroleum Exporting Countries and its allies (OPEC+) as well as concerns about sluggish global manufacturing activity. Brent crude went down by $1.98 or 2.45 per cent to close at $78.88 a barrel as the US West Texas Intermediate (WTI) crude dropped $1.89 or 2.49 per cent to sell for $74.07 a barrel. For the week, Brent posted a decline of about 2.1 per cent, while WTI lost more than 1.9 per cent.

By Bliss Okperan Nigeria recorded an improvement in its trade surplus in the third quarter of 2023, according to data released by the National Bureau of Statistics (NBS), which was analysed by Business Post. The agency disclosed that in the period under review, the total value of exports stood at N10.347 trillion, while imports stood at N8.458 trillion, leaving the total value of trades at N18.802 trillion, 60.78 per cent higher than the N6.435 trillion achieved in the second quarter of 2023. Analysis showed that between July and September 2023, the country, which prides itself as the biggest economy in

By Investors Hub The major U.S. index futures are pointing to a higher opening on Thursday, with stocks likely to move back to the upside after turning lower over the course of the previous session. Easing trade concerns may contribute to strength on Wall Street amid reports President Donald Trump might suspend threats to impose tariffs on cars imported from Europe if duties on U.S. cars are lifted. Traders may also react to a report from payroll processor ADP showing private sector employment increased by less than expected in the month of June. After failing to sustain an initial move

By Modupe Gbadeyanka Another N30 billion has been paid by MTN Nigeria to the Nigerian government as part of the N330 billion fine imposed on its for failing to disconnect unregistered subscribers on its network. This information was disclosed by Reuters, which quoted a source at the telecommunications company. MTN agreed to pay the fine, which was initially N1.04 trillion, in six instalments over the period of three years. Already, the firm has paid N80 billion. In early 2017, MTN disclosed that it recorded a loss for the first time in many years due to the fine by the Nigerian

By Dipo Olowookere An employee of Access Bank Plc, Mr Arthur Ezindu, has narrated how a former Account General Manager (AGM) of the defunct Intercontinental Bank, which was acquired by Access Bank in 2012, Mr Olayinka Sanni, allegedly stole the sum of N1.2 billion from several accounts belonging to customers of the bank. The matter is being prosecuted by the Economic and Financial Crimes Commission (EFCC) at the Ikeja High Court, Lagos. Mr Ezindu, who testified as prosecution witness before the court while being led in evidence by the EFCC lawyer, Mr Rotimi Oyedepo, claimed Mr Sanni withdrew the said

By Modupe Gbadeyanka Registration for the 2022 Miss Niger Delta has commenced. Later this month, a winner will emerge and will be crowned the 19th Miss Niger Delta, Ambassador for Peace and Development. In a statement, the Director of Media and Communication of Miss Niger Delta Organisation, Ms Karina Israel, disclosed that the event aims to support the development and growth of young females from the oil-rich region and promote socio-economic and human capital development. She stated that intending participants could get the forms at no cost at the nine participating states, with the screening of contestants to be held

By Modupe Gbadeyanka Minister of Science and Technology, Mr Ogbonnaya Onu on Monday commissioned the N500 million Data Centre of the Nigerian Stock Exchange (NSE) in Lagos. At the launch, Mr Onu showered praises on the management of the local bourse for giving life to the country’s economy. The Minister also commended the leadership style of the Chief Executive Officer of the NSE, Mr Oscar Onyema. Mr Onu said Federal Government will continue to provide enabling environment to investors, urging the NSE to list more technology companies on its platforms. He described the stock exchange as a vital part of

By Sodeinde Temidayo David Customers of Jumia in Nigeria now have the opportunity to purchase some products at the best market prices in an ongoing promo. This is part of the company’s efforts to support its customers at this time some of them are battling with low purchasing power as a result of the economic situation in the country. On July 12, 2021, Jumia, which is unarguable the nation’s number one online shopping mall, commenced a promo tagged Naija Shopping Festival Campaign. It is expected to run till August 29, 2021, according to the organisation. The campaign is in partnership

By Modupe Gbadeyanka DHL Express Sub-Saharan Africa (SSA) has announced signing to sponsor the 2018 eCommerce MoneyAfrica Conference & Exhibition (Confex), which will be hosted at the new East Wing of the Cape Town International Convention Center on March 14 and 15, 2018. The DHL eCommerce MoneyAfrica Confex has established itself as one of Africa’s biggest opportunities to bring stakeholders in the fintech and e-commerce sectors together. Next year’s event will feature presentations and knowledge sharing from an array of African and international thought leaders, geared at enabling participants to formulate innovative strategies to unlock more opportunities on the continent.