THISDAY
Market Capitalisation Appreciates by N481bn on Investors’ Interest in Banking Stocks
The market capitalisation of the Nigerian Exchange Limited (NGX), at the end of trade last week, gained N481 billion to close at N55.978 trillion, boosted by investors’ renewed interest in banking stocks. The NGX Banking index led the gainers’ chart last week, appreciating by 5.14 per cent week-on-week, buoyed by positive news of the Central Bank… Read More
SUN
Nigeria’s Financial Struggle Persists As Niger, Togo, Others Fail To Defray $14.19m Q1 Electricity Debt
Nigeria’s financial challenges have taken another hit as international customers failed to settle a whopping $14.19 million electricity bill for the first quarter of 2024. The alarming revelation sprang from the Nigeria Electricity Regulatory Commission’s (NERC) Q1 2024 report, which highlighted the persistent non-payment by all four of… Read More
Currency Devaluation Threatens NGX’s Leadership As Africa’s Top Stock Market
The Nigerian Exchange Limited (NGX) has been a focal point in Africa’s financial markets, starting 2024 on a remarkable note and continuing its strong performance from 2023. By the end of January 2024, it had recorded a 26.43 per cent year-to-date return (YtD) positioning it as the top-performing stock market globally at that time. The local bourse… Read More
NAIRAMETRICS
Nigerian States Spend N139.92 Billion Servicing External Debt In First Six Months Of 2024
Nigerian states have collectively spent about N139.92 billion on servicing external debt in the first half of 2024. This is according to an analysis of Federal Account Allocation Committee (FAAC) data from the National Bureau of Statistics (NBS). The amount spent is an increase of 122% from the N63.06 billion spent in the same period last year. The data… Read More
ECONOMY HEADLINES
THENATION
Federal Government Deploys 10,000 Agro Rangers To Boost Food Security Amid Insecurity Concerns
The Federal Government has taken another decisive step to boost food security and protect agricultural investments in the country. It has deployed over 10,000 Agro Rangers in 19 states and the Federal Capital Territory (FCT) to offer security to farmers and farmlands. The initiative, led by the Nigeria Security and Civil Defense Corps (NSCDC), is… Read More
PUNCH
36 States Got N39.6bn As Ecological Funds – Federal Government
Nigeria’s 36 states received N39.62bn as ecological fund allocations from June 2023 to June 2024, data from the Federation Account Allocation Committee published by the National Bureau of Statistics showed. The ecological fund is a crucial part of Nigeria’s federal revenue allocation, specifically designated to address various environmental… Read More
DAILYTRUST
National Assembly Will Create More Opportunities For Youths — Barau
The Deputy Senate President, Senator Barau Jibrin, has assured Nigerians, especially the youths that National Assembly will continue to enhance the relevant legislative framework to create more opportunities for them and tackle brain drain in the country. He gave the assurances weekend in Abuja at The Companion (Association of Muslim… Read More
POLITICAL HEADLINES
TRIBUNE
Representatives Mull Legislation On Devolution Of More Powers To States, Amend Sections On Local Government Administration
MEMBERS of the House of Representatives on resumption from their eight-week annual recess are expected to commence debate on the general principles of a bill seeking to devolve more powers to subnational governments and grant financial autonomy to local government councils in the country. The bill seeks to amend the 1999… Read More
VANGUARD
Salary: Present Representatives Different From Obasanjo’s Era — Deputy Spokesperson
Deputy spokesperson of the House of Representatives, Mr. Philip Agbese, yesterday picked holes in the recent comment by former president, Olusegun Obasanjo, that members of the National Assembly fix their salaries. Agbese said contrary to a statement Obasanjo’s spurous allegation, the 10th House of Reps was different from his era. He… Read More
TECHNOLOGY HEADLINES
PUNCH
NASENI Offers 50% Discount For CNG Conversion
The Executive Vice Chairman/Chief Executive Officer of the National Agency for Science and Engineering Infrastructure, Mr Khalil Halilu, has disclosed that the agency would offer a 50 per cent discount to drivers who want to convert their vehicles using the newly launched MY-CNG App. According to a statement by NASENI’s Director of Information… Read More