FBNQuest Shares Attractive Investment Opportunities for Stock Investors

By Adedapo Adesanya The President of the Dangote Group, the owners of the Dangote Petroleum Refinery and Petrochemicals plant, Mr Aliko Dangote, has said that following the purchase of 1 million barrels of Agbami crude grade from Shell International Trading and Shipping Company Limited (STASCO), it will be looking to ramp up its production in coming months. The 650,000 barrels per day capacity refinery is not expected to hit full capacity until 2025, but with a gradual ramping, it is expected that it will begin with begin producing up to 370,000 barrels per day of diesel and jet fuel. “We

By Adedapo Adesanya The NASD Over-the-Counter (OTC) Securities Exchange recorded a 1.6 per cent appreciation on Friday, December 8, as investors gained about N19.12 billion to push the valuation of the unlisted bourse to N1.202 trillion from the N1.182 trillion it closed in the preceding session. This achievement was influenced by the gains recorded by the trio of Aradel Holdings Plc, FrieslandCampina Wamco Nigeria Plc, and Central Securities Clearing System (CSCS) Plc. Data showed that Aradel Holdings Plc improved its value by N30 to settle at N900.00 per unit compared with the previous day’s N870.00 per unit, FrieslandCampina Wamco Nigeria

By Adedapo Adesanya The NASD Over-the-Counter (OTC) Securities Exchange recorded a further rise of 0.55 per cent, extending its stay in the green territory to a fourth straight session on Thursday, November 7. This increased the NASD Unlisted Security Index (NSI) by 4.81 points to wrap the session at 872.54 points compared with 867.73 points in the previous session, as the market capitalisation of the OTC exchange jumped by N6.52 billion to settle at N1.182 trillion, in contrast to the preceding trading day’s N1.176 trillion. The unlisted securities market ended the trading session with two price gainers, 11 Plc and

In a new move to enable mobile internet consumers enjoy more value at heavily discounted rates, leading telecommunications services provider, Airtel Nigeria, has announced a massive increase in data allowance on its weekly and monthly data tariff plans. A statement from the notable telco disclosed that the new data tariff review applies to most of the weekly and monthly data plans, including its mega plans. Under the new tariff, customers who subscribe to the N3,000 monthly plan will get 8GB data; consumers who buy the N5,000 monthly plan will get 15GB of data while customers who subscribe to the N20,000

By Modupe Gbadeyanka In the just concluded week, the Federal Government successfully issued a fresh $500 million Eurobond for the second time in less than two months. However, this round issue came at a cheaper cost than the initial $1 billion bond, coming at a yield of 7.5 percent, 0.357 percent lower than the initial bond which attracted a yield of 7.875 percent. Elsewhere, FGN bonds prices traded at the OTC segment decreased across most of the maturities. The 20-year, 10.00 percent FGN July 2030 debt, the 10-year and 16.39 percent FGN JAN 2022 debt depreciated by N0.23 and N0.09

By Adedapo Adesanya The Federal Inland Revenue Service (FIRS) said taxpayers can now get their Tax Clearance Certificate in a single click via its flagship Taxpro Max solution. This was disclosed in a statement signed by Mr Johannes Oluwatobi Wojuola, a Special Assistant to the Executive Chairman of the FIRS, Mr Muhammad Nami. It stated that the generation of Tax Clearance Certificates, which used to be issued within two weeks, would now be available with a single click by the taxpayer. The TaxPro Max, a tax administration solution introduced by the apex tax authority in June 2021, is a one-stop

By Dipo Olowookere Governor Abdulfatah Ahmed of Kwara State has disclosed that the Harmony Hub (Computer Village) in Ilorin would directly employ about 600 youths when fully operational apart from the hundreds of indirect jobs that would be created in the process of its construction. Speaking at the foundation laying ceremony of the facility, Mr Ahmed noted that the Computer Village, which is estimated to cost N500 million, was part of his government’s commitment to the expansion of employment opportunities and entrepreneur development. According to him, the project would be funded through contractor financing as well as pre-sales or off-taker

By Adedapo Adesanya Crude oil moved closer to $95 per barrel on Monday as expectations of a supply deficit stemming from extended output cuts by Saudi Arabia and Russia overshadowed concerns about demand. Data obtained from the market yesterday showed that Brent crude appreciated by 76 cents to sell at $94.70 a barrel, while the United States West Texas Intermediate crude futures rose by 71 cents to $91.48 per barrel. On Friday, oil had its third consecutive week of weekly gains, lifted by the growing imbalance between demand and supply and by China’s latest industrial output report, which showed faster-than-expected

By Adedapo Adesanya Whatever hopes the NASD Over-the-Counter (OTC) Securities Exchange had of returning to the bullish zone was dashed on Thursday as negative price movements in Niger Delta Exploration and Production (NDEP) Plc and NASD Plc further dragged the bourse down by 0.21 per cent. The oil and gas investment closed the session at N229.00 per unit compared with N235.00 per unit of the preceding session, indicating a decline of N6 or 2.6 per cent, while NASD Plc suffered a 49 kobo or 5.8 per cent drop to sell at N8.48 per share as against N8.97 per share it

By Tenebe Anthonia The Nigerian Stock Exchange (NSE) has thrown its weight behind the issuance of social bonds for the execution of new or existing projects with positive social outcomes. Business Post reports that in March 2020, the African Development Bank (AfDB) launched $3 billion three-year social bonds to help ease the negative economic effect of coronavirus disease. The CEO of the exchange, Mr Oscar Onyema, while speaking on Wednesday at a webinar on Capital Markets in a Pandemic, said the COVID-19 pandemic has propped up the social bonds investments. According to him, before now, attention had been on the

By Adedapo Adesanya Oil and gas company, Nipco Plc, has disclosed plans to pay N5.00 in dividends to new and existing shareholders for the 2022 financial year. The company disclosed this in a notice to the NASD Over-the-Counter (OTC) Securities Exchange, where it trades its securities. The notice indicated that the proposed dividend, which comes with no bonus, will be paid to those who hold the stocks of the company as of the qualification date for the dividend, which was last Friday, July 18. This means only those who hold the oil company’s shares as of the closing session will