NSE Index Sheds 3.12% as Mobil Tops Losers’ Chart With 14.25% Fall

By Aduragbemi Omiyale Some retiring Nigerian military personnel have been educated on how they can unlock opportunities in the capital market after active service to the nation. At a seminar held on Thursday, December 7, 2023, at the Nigeria Armed Forces Resettlement Centre in Lagos, the participants were informed of the benefits of diversifying their investments for more earnings. They were also exposed to ways to invest and assess the market with technology, including via the recently launched NGX USSD Code. The Divisional Head of Business Support Services and General Counsel of the Nigerian Exchange (NGX) Limited, Ms Irene Robinson-Ayanwale,

By Bliss Okperan President Bola Tinubu on Monday morning departed Abuja for Maiduguri, the Borno State capital the Nigerian Army Annual Conference as a special guest of honour. Mr Tinubu left the seat of power from the presidential wing of the Nnamdi Azikiwe International Airport, Abuja. It is his first visit to the North-Eastern region of the country since assuming office on May 29, 2023, from former president Muhammadu Buhari. The event will include an address to the troops of Joint Task Force North East Operation HADIN KAI, an inspection of the ongoing Nigerian Army Reference Hospital in Maiduguri, and

By Adedapo Adesanya The Nigerian Naira weakened to a new low on the American Dollar at the Nigerian Autonomous Foreign Exchange Market (NAFEM) on Friday, December 8, amid speculations that the Central Bank of Nigeria (CBN) has again devalued the local currency. In the previous trading session, there were reports that the exchange rate for clearing cargoes has been raised to N952/$1, sparking rumours that domestic currency would hit N1,000/$1 in the spot market. On the last trading session of the week, the Naira lost N255.98 or 30.4 per cent of its value on the greenback to trade at N1,099.05/$1

By Adedapo Adesanya Nigerian crude output fell by 30,000 barrels per day to 1.43 million barrels per day in November, according to data from an S&P Global Commodity Insight. This was lower than the 1.46 million barrels produced in October by Africa’s largest oil producer and 312,000 barrels per day short of its 1.742 million barrels per day target in 2023. Angola, Africa’s second-largest oil producer, saw output drop 20,000 barrels per day to 1.13 million barrels per day, according to the survey, compared with its quota of 1.46 million barrels per day. The drops impacted the wider output of

By FBNQuest Research The latest inflation report from the NBS shows headline inflation y/y at 16.05 percent in July – the sixth successive slowdown. The rounding off masks a decrease of just 5bps when compared with the previous month. Our expectation shared with wire service polls of analysts was a marginal uptick to 16.2 percent y/y. The growth in the core measure slowed from 12.5 percent to 12.2 percent, its lowest level since March 2016. In contrast, food price inflation accelerated from 19.9 percent to 20.3 percent.  The bureau’s commentary notes higher prices for all staples. Food inflation is now

Small business owners often have a great idea and skills in a certain area, but they may not be as experienced in the financial side of running a company. A deep understanding of business finance is crucial for making informed decisions and generating sustainable long-term growth. In this article, we’ll cover a few of the most important financial terms for small business owners to be aware of. Make sure to check out our website if you’re interested in an sba 7a loan for your small business. Return on Investment Return on investment is one of the most important metrics for

Leicester City player, Riyad Mahrez, has signed a new contract with the English Premier League champions. The future of the Algerian footballer had been in doubts lately with speculations that he was on his way out of the club. On Wednesday, August 17, 2016, Mahrez put an end to doubts about his commitments to the Foxes and he will now stay at the King’s Power Stadium till 2020. The new deal was announced by the club through a statement on its official website. “Leicester City Football Club is delighted to announce that Riyad Mahrez has signed a new contract, committing

By Adedapo Adesanya Oil prices steadied on Tuesday after jumping more than 3 per cent at the previous session as investors softened expectations of an early return of oil exporter, Iran, to the international crude markets. The Brent crude rose by 5 cents or 0.07 per cent to $68.51 per barrel, while the West Texas Intermediate (WTI) crude went up by 9 cents or 0.14 per cent to trade at $65.96 per barrel. The United States and Iran are due to resume indirect negotiations in Vienna, Austria this week after the United Nations nuclear agency extended a monitoring agreement on

The Lagos State Government has re-affirmed its commitment to run an inclusive government as well as enhance quality lives of all residents in the state. Commissioner for Information and Strategy, Mr Steve Ayorinde, disclosed this in his keynote address at a one-day workshop on People’s Perception Survey held at the Combo Hall of LTV 8, Agidingbi, Ikeja, with a view to assessing the level of government’s policies, programmes and projects as perceived by the populace. Mr Ayorinde stated that the policy guideline of Governor Akinwunmi Ambode led administration is basically participatory at the grassroots level in order to cater for

By Dipo Olowookere The worrying losses at the Nigerian Stock Exchange (NSE) continued on Wednesday with the market closing 3.46 percent lower. At the close of transactions yesterday, the local market’s year-to-date return was deep in the mess at -15.56 percent. Significant selloffs were witnessed at the market as investors continue to take exit as a result of weakened investors’ confidence as well as warnings from analysts about the economic outlook for Nigeria. The All-Share Index (ASI) lost 1156.38 points on Wednesday to close at 32,292.79 points, while the market capitalisation reduced by N423 billion to finish at N11.789 trillion.

By Dipo Olowookere The local stock market recorded a gain on Tuesday after opening bearish on the first trading day of this week on Monday. This was mainly due to activities of bargain hunters on the floor of the Nigerian Stock Exchange (NSE) as they take advantage of the low prices of equities to shore up their portfolios. The All-Share Index (ASI) appreciated today by 674.27 points to close at 33,114.44 points, while the market capitalisation increased by N242 billion to settle at N12.089 trillion. Business Post reports that at the close of business on Tuesday, there were 26 price

By Dipo Olowookere Access Bank Plc on Thursday announced a profit after tax of N40.9 billion for the first quarter of 2020, lower than the N41.2 billion declared in the same time of last year by 0.73 percent. However, in the financial statements filed to the Nigerian Stock Exchange (NSE), the lender said its profit before tax increased to N46.2 billion in the period under review from N45.1 billion in the corresponding period of 2019. The earnings per share (EPS) dropped to N1.21 from N1.39. A look at the top line of the earnings showed that interest income grew to