BUSINESSPOST
Stock Exchange Loses N191bn As Investor Sentiment Turns Bearish
A weak investor sentiment triggered by profit-taking further sank the Nigerian Exchange (NGX) Limited by 0.32 per cent on Wednesday. The stock exchange could not bounce back at midweek as a result of the sustained selling pressure influenced by the absence of a positive market stimulus. As a result, the market capitalisation of the NGX… Read More
PUNCH
EKEDC Eyes Metering 600,000 Customers In Five Years
The Eko Electricity Distribution Company said it would meter up to 600,000 customers in the next five years. In a statement on Tuesday, the EKEDC said it was committed to bridging the metering gap by 2028, with a plan to meter 120,000 customers annually within the next five years. According to the power company, the plan was sectioned into each… Read More
SUN
Foreign Portfolio Investments Up By 23.95% Amid Shrinking Transaction Volume
Foreign Portfolio Investments on the Nigerian Exchange Limited (NGX) in February 2024 rose by 23.95 per cent to N65.81 billion from N53.11 billion in the previous month. This increase comes despite a 45.07 per cent decrease in total transactions on the nation’s bourse, which fell from N651.52 billion in January to N357.88 billion in… Read More
VANGUARD
Electricity: Concerns As Tariff Hike Hits Consumers
Regulatory Commission, NERC, has indicated that a total of 1,974,385 electricity consumers would be affected by its recent hike in tariff. Vanguard learnt that the tariff hike was aimed at making a significant cut on estimated N2.9 trillion electricity subsidy in the 2024 fiscal year. It was further learnt that the hike became inevitable following cashflow… Read More
ECONOMY HEADLINES
THENATION
Edun: Federal Government Plans To Raise Bond In Forex
The Federal Government plans to begin the issuance of domestic foreign currency-denominated bonds from this quarter, Minister of Finance and Coordinating Minister of the Economy, Mr. Wale Edun, said yesterday. A Reuters report quoted the minister as speaking at a parley with business leaders in Lagos. The government move is expected… Read More
Federal Government Invests 48m Euros In Phase 2 Energy Support Programme
The Federal Government has invested 48 million euros for the second phase of its Energy Support Programme, the Component Lead, Enabling Environment Nigerian Energy Support Programme (NESP), Mr Joshua Yari, has said. Yari stated this at the one-day summit organised by Energy Commission of Nigeria (ECN) in collaboration with… Read More
DAILYTRUST
Customs Worried As CBN Hikes Duty Rates 28 Times In 3 Months
The Nigerian Customs Service (NCS) has expressed concerns over the continued adjustments of customs import duty rates which have affected the volume of transactions in the first quarter of 2024. Comptroller General of the NCS, Bashir Adewale, expressed the concerns of the Service yesterday in Abuja at a briefing to highlight its… Read More
POLITICAL HEADLINES
DAILYTRUST
National Assembly Urged To Probe Steel Council Over Alleged Disregard To Tinubu’s Order
The Alliance for Credible Legislative Conducts (ACLC) has called on the National Assembly to investigate the National Steel Council (NSC) for allegedly disregarding President Bola Tinubu’s directive to dissolve the boards of federal government agencies and parastatals. President Tinubu had 10 months ago approved the immediate dissolution of… Read More
THISDAY
Signing Student Loans Act, Tinubu Pledges To Pay Special Attention To Education
President Bola Ahmed Tinubu, yesterday, signed the Student Loans (Access to Higher Education) (Repeal and Re-enactment) Bill 2024 into law at a brief ceremony at State House, Abuja, saying he would give deserving attention to education. The short ceremony held in his office was witnessed by President of the Senate, Senator Godswill… Read More
TECHNOLOGY HEADLINES
NAIRAMETRICS
Federal Government Assembles 120 Researchers, Startups To Develop Framework For AI Adoption In Nigeria
The Federal Government has announced plans to bring together 120 Nigerian researchers and startups including other stakeholders in the Artificial Intelligence (AI) space to develop a co-created framework for AI adoption in the country. The Minister of Communications, Innovation and Digital Economy, Dr. Bosun Tijani, announced this on… Read More
