Capital Market Investors Urged To Exploit Market Data

By Dipo Olowookere The Nigerian Exchange (NGX) kicked off the first trading session in the last week of the third quarter of the year on a negative note, with the key performance indices going down by 0.66 per cent on Monday. This was partly caused by the reaction of investors to the 30 Kobo interim dividend declaration of the board of Access Holdings Plc. A few days ago, its peer, UBA Plc, raised its interim dividend payment by 150 per cent to 50 Kobo and it was expected that Access Holdings would follow the same path. However, the company disappointed

By Bliss Okperan A foremost content reader, FeedSpot, has named Business Post Nigeria as one of the Top 25 Nigeria Personal Finance Blogs. In the list, Business Post was placed in the 8th position, ranking among other reputable online platforms serving readers with quality and educative business and financial news reports and articles. In the top 10, FeedSpot listed Nairametrics as number one, followed by UBA Group, Financial Nigeria Magazine, Investors King, Cowrywise Blog, Financial Watch, MakeMoney, Business Post Nigeria, Nigeria Galleria Blog, and Money Matters with Nimi. Other platforms listed were LagosMums, Financengr, Rosabon Financial Blog, Ohimai Consulting Blog,

By Adedapo Adesanya The Nigerian government is targeting an estimated $55.2 billion in oil and gas investments by 2030, according to the Special Adviser to the President Bola Tinubu on Energy, Mrs Olu Verheijen. She said the government has wrapped up a series of strategic engagements with 15 leading international and independent oil and gas companies operating in Nigeria. The President’s aide recently organised sessions in Lagos and Abuja in partnership with the Nigerian Upstream Petroleum Regulatory Commission (NUPRC) to review ways to improve the sector and address the nation’s revenue emergency whilst contributing to stabilising Nigeria’s economy. Involved in

By Modupe Gbadeyanka An appeal court sitting in Abuja on Friday upturned the judgment of the Osun governorship election tribunal, which removed Mr Ademola Adeleke as Governor of Osun State. In January, the tribunal declared the former Governor of the state, Mr Gboyega Oyetola, as the authentic winner of the 2022 governorship election in the state. While Mr Adeleke contested for the position under the platform of the Peoples Democratic Party (PDP), Mr Oyetola flew the flag of the All Progressives Congress (APC). Mr Adeleke was declared winner of the poll by the Independent National Electoral Commission (INEC), but Mr

By Dipo Olowookere That the dividend payout of United Bank for Africa (UBA) Plc for the 2020 fiscal year was cut is no longer news, but the rationale behind the decision will interest shareholders. A few days ago, the tier-one lender announced its financial performance last year and the key performance indicators recorded improvements, including the gross earnings and profits. However, the cash reward given to investor was lowered by over 50 per cent as the board recommended a dividend of 35 kobo, lower than the 80 kobo paid for the 2019 fiscal year. Many investors were not happy about

By Dipo Olowookere Fourteen furniture designers from different provinces showcased their designs at the Durban Decorex, which took place in Durban from March 18-21, 2017. These designers received financial support from the Department of Trade and Industry’s (the dti). According to the Minister of Trade and Industry, Dr Rob Davies, the dti participation at Decorex was a continuous strategy to support different sectors to showcase their capabilities and skills in different platforms across the country. “As the department we also want to raise and nurture design capabilities in the country and grow the industry’s competitiveness by encouraging new product design

By Modupe Gbadeyanka Two new factor indices have been launched by the Nigerian Stock Exchange (NSE) and Afrinvest Securities Limited (ASL). A statement from the NSE disclosed that the new indices, NSE-Afrinvest Banking Value Index (NSE-Afr BVI) and NSE-Afrinvest High Dividend Yield Index (NSE-Afr HDYI) will be available real-time on both NSE and Afrinvest WA websites from Monday, January 21, 2019. It was explained that the two indices were designed in response to requests for applicable benchmarks for measuring value in banking stocks and high dividend stocks listed on the local exchange. They will serve as tools for investment managers

By Dipo Olowookere The manufacturing sector in Nigeria recorded a further growth in the month of December 2017, the Central Bank of Nigeria (CBN) has revealed. According to the apex bank’s Purchasing Managers’ Index (PMI) for December 2017, the sector’s index expanded to 59.3 index points in the period under review from 55.9 index points recorded in the month of November 2017. This, the central bank said, indicated expansion in the manufacturing sector for the ninth consecutive months. The report said 15 of the 16 subsectors reported growth in the review month in the following order petroleum & coal products;

By Dipo Olowookere An approval has been given to the Lagos State government to list its N6.911 billion Series 2 Tranche III: 15.60 percent Fixed Rate Bond Due 2024 and Series 2 Tranche IV: 15.85 percent Fixed Rate Bond Due 2027 on the Nigerian Stock Exchange (NSE). According to data obtained by Business Post from the local stock exchange, the approval was given to the state government for the listing on Wednesday, August 8, 2018. The bonds are under the Lagos State government’s N500 billion Debt Issuance Programme. Business Post gathered that the stockbroker for the exercise is Chapel Hill

By Dipo Olowookere Frantic effort is being made by the Federal Government to secure a loan of $550 million from China NEXIM for the acquisition of two additional satellites to adequately equip NIGCOMSAT to discharge its duties. This information was disclosed by the Minister of Communications, Mr Adebayo Shittu, during an interactive meeting with stakeholders on the establishment of the proposed ICT University of Nigeria, ICT Development Bank and ICT Park and Exhibition Centre. The Minister highlighted the critical concerns of his ministry to include acquisition of two satellites, $350 million for Galaxy Backbone to complete the funding of its

By Dipo Olowookere Attention will shift to the Nigerian Idol Season 8 show this weekend as the remaining seven contestants lock horns for the top 6 spots. Last week, the eight contestants were trimmed to seven by the viewers of the popular music reality television programme. This saw the exit of 17-year-old Constance because she could not garner enough votes from lovers of the entertainment show. She joined the duo of Abraham and Reigny, who were evicted a week earlier for the same reason. On Sunday, June 18, 2023, fun-seekers will remain glued to their TV screens and anxiously wait