Daily News
THIS DAY
NSE All-Share Index Sheds 0.19% as Bears Return
The bears returned to the local bourse yesterday pulling, the Nigerian Stock Exchange (NSE) All-Share Index (ASI) down by 0.19 per cent to close at 40,494.35. The market had opened for the week on positive note after two weeks of decline, raising hopes that the bargain hunting could be sustained. However, sell-offs in Stanbic IBTC Holdings Plc, Nigerian Breweries Plc and Zenith Bank Plc… Read More
Operators Identify Factors Discouraging Foreign Investors from Stock Market
Foreign investors’ low patronage of the Nigerian stock market has been attributed to scarcity of foreign exchange (FX) as well as concerns about the coronavirus pandemic. Transactions in the local bourse used to be dominated by foreign investors until 2019, when the domestic investors took over the lead. Market analysts and operators told THISDAY that lack of access to FX by foreign investors… Read More
VANGUARD
Rising Inflation Compounds Manufacturing Downturn – MAN DG
The Manufacturers Association of Nigeria (MAN) has described the January 2021 inflation rate of 16.47 per cent as a threat to the envisaged manufacturing and industrial sectors recovery and the growth. Mr Segun Ajayi-Kadir, Director-General, MAN, made the assertion in an interview with the News Agency of Nigeria (NAN) on Tuesday in Lagos. NAN reports that the inflation rate for January… Read More
GUARDIAN
Stakeholders Lament Unfavourable Government Policies at Ports
There have been continued calls on the government to address the anti-export policies of the Central Bank of Nigeria (CBN) and other hiccups affecting clearing at the ports. Stakeholders last week, lamented that hundreds of containers of perishable items stranded at the ports had perished owing to the CBN’s policy which mandates all exporters to present the Nigeria Export Proceed… Read More
Headline Inflation Reaches 16.47 percent
Nigerians’ disposable incomes took a hit last month as the consumer price index (CPI), which measures inflation, increased by 16.47 per cent (year-on-year) in January. Also, escalating food inflation has remained unabated. Though analysts at Cordros Securities noted that the month-on-month moderation in food prices may have been largely driven by the dissipating impact of festive-induced… Read More
PUNCH
CBN’s Fight Against Inflation Failing, says Economic Experts
Economic analysts on Tuesday said the continued rise in the rate of inflation across the country showed that the fight against inflation by the Central Bank of Nigeria was failing. Experts in firms such as the Financial Derivatives Company Limited and Cordros Group, both renowned financial services organisations, stated that the rise in Nigeria’s rate of inflation had lingered for… Read More
Marketers Raise Petrol Price to N170, Depots Suffer Shortage
Fuel marketers have started adjusting their petrol pump prices amid the supply shortage facing private depots in Apapa. Our correspondent observed that some filling stations in Lagos and Ogun states increased the pump price of petrol to N170 per litre on Tuesday from N162 per litre. Some of the stations were Capital Oil and Gas, Fatgbems and Amo Oil, all along the Lagos-Ibadan… Read More
THE SUN
Dangote Injects N10bn into Education Sector
As the Dangote Academy prepares to admit yet another set of student engineers, it can be revealed that the company has in the recent past injected over N10 billion into the Nigeria’s educational sector. The breakdown shows that, aside government, the Dangote Group is the second largest contributor to education in Nigeria. It is also the country’s largest private sector employer… Read More
PUNCH
56.1 Million Poor Nigerians not in Database – Federal Government
As of January 31, 2021, a total of 56.1 million poor and vulnerable Nigerians had yet to be identified and registered in the National Social Register, the Federal Government said on Tuesday. According to the government, data from the National Bureau of Statistics put the number of poor Nigerians below the poverty line at about 82.9 million, while 26.8 million persons in this category had so far… Read More
GUARDIAN
DND, Subscribers and Telecoms Sector Growth
One of the major high points of the Nigerian Communication Act 2003, signed into law by President Olusegun Obasanjo on July 8, 2003, is the power it gives to the Nigerian Communication Commission (NCC) to protect telecoms consumers. Precisely, Section 104 to106 of the Act mandates the NCC to do this, especially in the introduction of consumer-centric initiatives that will boost customer… Read More