Equities Shed N279b, Extend Loss to 3rd Day on Selling Pressure

By Modupe Gbadeyanka Business owners in Lagos have been assured of more incentives by the state governor, Mr Babajide Sanwo-Olu, who added that this is part of his administration’s commitment to reforms aimed at improving the ease of doing business and enhancing investment opportunities. Speaking at the commissioning of the newly-built wet hair production factory of Godrej Nigeria Limited, the Governor said his government would continue to pursue actions that would eliminate red tapes and regulatory impediments hindering the growth of businesses in the state, thereby demonstrating his willingness for continued collaboration with the private sector to improve the livelihood

By Adedapo Adesanya The trio of Newrest Asl Plc, FrieslandCampina Wamco Nigeria Plc, and Acorn Petroleum Plc made the NASD Over-the-Counter (OTC) Securities Exchange appreciate by 0.14 per cent on Friday, December 1. The three gainers pressed down the 8 Kobo loss reported by UBN Property Plc, which closed the trading session at N1.52 per unit compared with the preceding day’s value of N1.60 per unit. During the trading day, Newrest Plc gained N1.46 to close at N16.10 per share compared with Thursday’s closing price of N14.64 per share, FrieslandCampina Wamco Plc moved up by 60 Kobo to end the

By Adedapo Adesanya Nigeria will accept and work with a production quota of 1.5 million barrels of crude oil per day in 2024 as the country aims to grow on the back of its oil resources, following a revision done by the Organisation of the Petroleum Exporting Countries and its allies, OPEC+. According to a statement issued by the Press and Public Relations unit of the Ministry of Petroleum Resources, Thursday’s meeting of the 23-man group addressed crucial aspects, including the completion of assessments by independent sources (IHS, Wood Mackenzie, and Rystad Energy) on the projected production levels for Angola,

By Dipo Olowookere FBNQuest Merchant Bank is not resting on its oars as it has another target for itself after meeting the previous goals set by the management. On Friday, April 23, 2021, the investment banking and asset management subsidiary of FBN Holdings Plc held its 6th Annual General Meeting (AGM) in Lagos. The gathering afforded the board and management to give an account of how the company faired in the 2020 fiscal year, which struggled due to the COVID-19 pandemic. This health crisis caused the macro-economic environment in Nigeria to face headwinds, which plunged the nation into a recession

By Dipo Olowookere Oando Plc has confirmed getting clearance from the Securities and Exchange Commission (SEC) to hold its 40th Annual General Meeting (AGM) in Uyo, Akwa Ibom State next Monday. In a statement issued yesterday by the oil firm, it said the capital market regulator wrote a letter to it dated August 31, 2017, that it could go on with the event. “In a letter dated Thursday, 31st August, 2017, the SEC wrote to the company and categorically stated: ‘Following the submission of an Interim report by the Special Task Team, the Commission is of the opinion that it

By Adedapo Adesanya Oil prices fell more than one per cent from their highest level in years on Thursday as the Dollar strengthened after the United States Federal Reserve signalled it might raise interest rates as soon as 2023. The price of the international benchmark, Brent crude futures, dropped $1.31 or 1.76 per cent to trade at $73.08 per barrel while the United States’ benchmark, West Texas Intermediate (WTI) crude futures, lost $1.61 or 1.87 per cent to sell at $71.05 per barrel. The US Dollar strengthened to its highest since in two months against a basket of other currencies

By Modupe Gbadeyanka Management of the Nigerian Stock Exchange (NSE) has commended Dangote Cement for its adherence to best corporate governance practices. Chief executive of the NSE, Mr Oscar Onyema, gave this commendation while welcoming the Group Managing Director of Dangote Cement, Engr. Joe Makoju, and his management team to the special sounding of the closing gong on the trading floor of the NSE. Sounding of the closing gong is a ceremony reserved for chief executives and dignitaries who visit the Exchange and it marks the close of trading activities. Mr Onyema, who congratulated Mr Makoju on his confirmation as

By Adedapo Adesanya Nipco Plc and FrieslandCampina WAMCO Nigeria Plc sank the NASD Over-the-Counter (OTC) Securities Exchange by 0.42 per cent on Thursday, September 1. The shaky performances in the stock prices of these companies depreciated the market capitalisation of the OTC bourse by N4.2 billion to N1.003 trillion from N1.007 trillion. In the same vein, the NASD Unlisted Securities Index (NSI) shed 3.19 basis points to end the day at 762.12 points as against the 765.31 points it recorded in the previous session. FrieslandCampina WAMCO Nigeria Plc went down by N3 during the session to sell at N93.00 per

By Modupe Gbadeyanka A total turnover of 1.290 billion shares worth N13.873 billion were traded in 17,307 deals last week by investors on the floor of the Nigerian Stock Exchange (NSE) in contrast to a total of 1.752 billion equities valued at N19.681 billion exchanged the previous week in 22,319 deals. A breakdown of these trades showed that the financial stocks led the activity chart by volume with 1.084 billion units sold for N11.612 billion in 11,169 deals, contributing 84.06 percent and 83.70 percent to the total equity turnover volume and value respectively. Data from the NSE showed that the

By Sodeinde Temidayo David The Alliance for Green Revolution in Africa (AGRA), an organisation that seeks to transform African agriculture from a subsistence model to strong businesses that improve the livelihoods of the continent’s farming households, has unveiled a new platform called Agribusiness Dealroom to facilitate sharing of ideas, initiatives and investment opportunities between the private and the public sector. The platform was officially launched at the Agribusiness Dealroom summit 2021 in Abuja on Tuesday and is set to take practical actions and share lessons that will move African agriculture forward. This new initiative was established by the African Green

By Modupe Gbadeyanka Activities on the Nigerian Stock Exchange (NSE) for the second consecutive day on Thursday recorded marginal growth with the All-Share Index appreciating by 0.09 per cent. The index rose by 23.45 points or 0.09 per cent to close at 25,265. 08 against 25,241.63 posted on Wednesday. In the same vein, the market capitalisation which opened at N8.689 trillion inched two billion naira to close at N8.691 trillion. An analysis of the price movement table indicated that Mobil led the gainers’ table gaining N27.33 to close at N294 per share. Forte Oil garnered N5.49 to close at N59.20