Unlisted Stocks Close Flat Amid 96% Plunge in Trading Volume

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 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 Dipo Olowookere A 0.12 per cent appreciation was recorded by the Nigerian Exchange (NGX) Limited on Friday, reversing the previous day’s losses triggered by profit-taking in the banking sector. Business Post reports that it was the same banking space that influenced the growth posted yesterday, rising by 1.60 per cent, supported by the consumer goods indices, which appreciated by 0.15 per cent. However, there were pockets of profit-taking during the last trading session of the week, with the insurance sector shedding 0.78 per cent, the industrial goods sector losing 0.65 per cent, and the energy counter declining by 0.57

People are finding new ways to live healthier, happier lives by addressing the various aspects of their health that they feel need improvement. Cannabis is slowly becoming more mainstream, and more people are seeking ways to reap CBD oil’s benefits. This oil, which stands for cannabidiol, has been proven to bring relief from several health conditions, including anxiety, neuropathic pain, chronic pain, and seizures. With that in mind, it states that CBD oil could get used as an effective treatment for acne! It can be used for topical applications, ingesting it orally as edibles or capsules, and even put on

By Adedapo Adesanya The Naira returned from the Christmas holiday stronger against the US Dollar on Wednesday, gaining 10 kobo or 0.02 per cent at the Investors and Exporters (I&E) segment of the foreign exchange (forex) market. Data showed that the local currency was traded yesterday at the window at N415.00/$1 compared with N415.10/$1 it closed at the session, which was on Friday, December 24. This happened on the back of a 29.1 per cent or $49.14 million fall in the value of FX trades recorded at the market segment during the midweek session. Business Post gathered that the turnover

By Adedapo Adesanya President Bola Tinubu has promised fresh growth and job reforms in the coming months after he removed fuel subsidies and directed the float of the Naira to unify the exchange rate. The Nigerian president made this known during his first address at the 78th United Nations General Assembly in New York, the US, after he took over the helm of office from Mr Muhammadu Buhari in May. He said, “To foster economic growth and investor confidence in Nigeria, I removed the costly and corrupt fuel subsidy while also discarding a noxious exchange rate system in my first

By Dipo Olowookere Federal Government has finally given an approval to the Lagos State government to reconstruct the Lagos International Airport Road, which the state government had longed for. Secretary to the State Government (SSG), Mr Tunji Bello, in a statement on Wednesday said Lagos State was given the permission to embark upon a total reconstruction of the road by the Acting President, Mr Yemi Osinbajo, a former Commissioner of the state. Before now, there were speculations that the state Governor, Mr Akinwunmi Ambode; and the Minister of Power, Works and Housing, Mr Babatunde Fashola, the immediate past Governor of

By Adedapo Adesanya The Naira sustained its stability against the American Dollar at the Investors and Exporters (I&E) window of the foreign exchange (FX) market on Tuesday, November 30. Business Post reports that for the third consecutive trading session, the value of the Naira compared with the greenback remained unchanged at N415.07/$1. This came as forex transactions at the investors’ window moderated during the session as the turnover for the day waned by 67.8 per cent or $103.71 million to $152.98 million from the preceding day’s turnover of $256.69 million. However, it was a different scenario at the interbank window

By Modupe Gbadeyanka Unilever Nigeria Plc has announced a profit after tax of N3 billion for the year ended December 31, 2016, from N1.1 billion it achieved in 2015. This represents a profit growth of about 172 percent. Unilever is a firm involved in the manufacture and marketing of foods and food ingredients, and home and personal care products. One of its main rivals in Nigeria, Nestle Nigeria Plc, reported a loss of about 76 percent in the year under review. According to its audited financial statements posted on the website of the Nigerian Stock Exchange (NSE), the company said

By Dipo Olowookere The sum of N343 billion was raised from the local debt market on Thursday by the Central Bank of Nigeria (CBN) to mop up most of the N375 billion worth of treasury bills that matured today. The apex bank sold the debt instrument to investors, who subscribed to the exercise, though most interests were seen in the long-dated tenors. Business Post reports that of the N50 billion worth of the 91-day bills offered, the apex bank sold N1.19 billion at 11.90 percent, of the N100 billion worth of the 189-day paper, it raised N12.68 billion at 13.50

By Dipo Olowookere The Debt Management Office (DMO) has said Nigeria’s total public debt stock now stands at N22.38 trillion or $73.21 billion. The nation’s debt stock comprises external and domestic debts of the federal government, the 36 states of the federation and the Federal Capital Territory (FCT). In a statement issued by the debt office, it was disclosed that these figures were about the same recorded in June 2018. It was stated that the external debt declined by 2.02 percent to $21.592 billion largely due to the redemption by Nigeria of a $500 million Eurobond which matured on July