Market Capitalisation Crosses N21trn on Demand for Airtel, GTCO Stocks

Traders Union (TU) experts know that supply and demand rules control all markets. When traders trade, they usually use technical signals to find out if there is more supply or demand. In this guide, the analysts will delve into the world of supply and demand zones and explore their significance in trading. But before you dive in, it’s crucial to grasp the fundamentals. What you should know about supply and demand zones The guidance from TU’s analysts provides insight into the crucial aspects of demand and supply zone trading. It is important to understand these zones: Supply Zone – this

By Adedapo Adesanya The Independent Petroleum Marketers Association of Nigeria (IPMAN) has raised the alarm over alleged secret reintroduction of fuel subsidy payments by the federal government. In late May, after taking the oath of office, President Bola Tinubu announced the total removal of subsidy on petrol, which saw prices jump to over N600. The removal of fuel subsidy and the resulting increment in the pump of petrol by almost 300 per cent had quadrupled the inflation rate in the country and affected the purchasing power of Nigerians, especially the middle class and low-income earners. It was expected that as

By Dipo Olowookere The board of Capital Hotels Plc has announced the creation of an escrow account for the payment of about N1.6 billion to minority shareholders of the company. The hospitality firm is leaving the Nigerian Exchange (NGX) Limited after years on the nation’s main stock exchange. In a notice signed by Alex Ugwuanyi, the organisation said the account was created with CardinalStone Registrars Limited and has been sufficiently funded for payment “to shareholders” who “have accepted to exit” the firm by selling their holdings. Recall that in March 2023, shareholders of Capital Hotels approved the request of the

By Adedapo Adesanya The International Monetary Fund (IMF) has reaffirmed its support for the removal of fuel subsidy and the exchange rate unification of the administration of President Bola Tinubu, insisting that the policies are good for Nigeria’s economy. A representative of the global lender, Mr Ari Aisen, while featuring on Channels TV on Tuesday, maintained that the two policies must remain for Nigeria to reach macroeconomic stability. “After the position that needs to be well managed to avoid potential reversal, policies of subsidizing fuel, and controlling exchange rate will lead to a much better outlook for the Nigerian economy,”

By Dipo Olowookere African Heads of State and Government marked Africa Day in the Africa Pavilion at the UNFCCC 22nd Conference of Parties (COP22) on Friday with focused and strategic discussion on the ratification and roll out of the implementation of the Paris Agreement and the key continental initiatives to support member states’ efforts. President Alpha Condé of the Republic of Guinea presided over the High Level gathering also attended by the Presidents of Botswana, Mr Ian Khama; Liberia, Ms Ellen Johnson Sirleaf; Togo, Mr Faure Gnassingbe, Ministers from the continent, heads of Pan African Institutions; the African Union Commission,

By Adedapo Adesanya An opportunity has opened for private and Small and Medium Enterprise (SME) health providers in Nigeria to access credit facility to expand their operations. The loan, created through the Open Doors African Private Healthcare Initiative, is worth $30 million and it is for healthcare providers in Nigeria and four other high malaria burden African countries. It will specifically support healthcare providers in Nigeria, Ghana, Kenya, Tanzania and Uganda to continue offering essential health services, including malaria treatments, to more than five million Africans, especially during the COVID-19 pandemic. The facility was created by the Health Finance Coalition,

By Dipo Olowookere A programme aimed at reviving agro-allied industries and also agricultural productions in Kano State, the Nigerian Agri-business and Agro Industry Development Initiative (NAADI), has been launched by federal government. This was done on Monday by the Minister of State for Industry, Trade and Investment, Hajiya Aisha Abubakar and it is part of government’s efforts to accelerate the growth and diversification of the Nigerian economy. Mrs Abubakar, represented at the commissioning by the ministry’s Permanent Secretary, Edet Sunday Akpan, explained that the programme is intended to harness the enormous potentials inherent in the non-oil sector of the Nigerian

By Dipo Olowookere Principals of unity colleges across the country have been warned to stop asking for unapproved fees from parents and guardians or risked being sacked. This threat was made by the Minister of Education, Mr Adamu Adamu, who also said any act capable of sabotaging the goal of the ministry would not be tolerated. A director in the Ministry of Education, Mr Ben Goong, said that the Minister gave this warning in response to reports that some principals were collecting fees well over the amount stipulated by the ministry. Mr Goong noted that the Minister had directed that

His Excellency, President Muhammadu Buhari President, Federal Republic of Nigeria At the Joint Session of the National Assembly, Abuja, wednesday, 19TH December 2018 PROTOCOLS – 1. It is my pleasure to present the 2019 Budget Proposals to this Joint Session of the National Assembly. 2. This being my last budget speech to the 8th National Assembly, I will review economic developments over the past three and a half years with particular emphasis on 2018. I will then highlight the budget proposals for 2019. The full details of which will be given by the Honourable Minister of Budget and National Planning.

By Dipo Olowookere Leading provider of integrated operating environment solutions for the legal cannabis industry, Helix TCS Incorporated, has announced its first quarter 2018 financial results. According to the financial statements released today, the firm generated revenues of $1,128,338, in the first quarter of this year. This represents 63 percent growth over first quarter 2017 revenues of $691,737. It was observed that the gross profit increased from $81,534 in Q1 2017 to $337,633 in Q1 2018, representing an increase in gross margin from 11.8 percent to 29.9 percent respectively. Commenting on the results, CEO of Helix, Zachary Venegas, stated that,

By Adedapo Adesanya The National Bureau of Statistics (NBS) has disclosed that 27.1 per cent of Nigerians were without jobs during the coronavirus-induced lockdown months in the second quarter of the year. The data would be the first released after almost two years when the country’s unemployment numbers stood at 23.1 per cent, signifying a 4 per cent rise in unemployment within the period. In a report published on Friday titled Labour Force Statistics: Abridged Labour Force Survey Under COVID-19, the national statistics body noted that based on a survey, the unemployment rate among young people (15-34years) was 34.9 per

By Aduragbemi Omiyale The Securities and Exchange Commission (SEC) is taking steps to ensure that Nigerian agricultural produce meets specifications for exports, the Director-General of the agency, Mr Lamido Yuguda, has informed the management of the Nigerian Agricultural Insurance Corporation (NAIC). Mr Yuguda said the reason behind this is to deepen the commodities trading ecosystem further and make it a potent way forward in Nigeria’s quest for sustainable foreign exchange (FX) earnings and economic development. At a meeting with NAIC over the weekend in Abuja, the SEC chief said Nigerian has earned low forex “in the past few months [due