BUSINESSPOST
NGX Index Sheds 0.20% Amid Sell-Offs Across Key Sectors
Profit-taking across key sectors further deepened the woes of the Nigerian Exchange (NGX) Limited by 0.20 per cent on Wednesday. Data showed that the insurance counter depreciated by 0.90 per cent, the banking space weakened by 0.30 per cent, the consumer goods and energy sectors plunged by 0.17 per cent each, and the industrial… Read More
NAIRAMETRICS
Federal Government Seeks N190 Billion From Bond Market In August, Lowest Offer In 2024
The Federal Government of Nigeria, through its Debt Management Office (DMO), has announced plans to raise N190 billion from the bond market in August 2024. Marking its lowest bond offer in 2024, this offer amount is 37% less than the N300 billion offered last month. The bond offer will be conducted by auction on August 19, 2024… Read More
SUN
Manufacturers Face 24.4% Surge In Production, Distribution Costs In Q2
The Manufacturers Association of Nigeria (MAN) has revealed that production and distribution costs within the manufacturing sector experienced a sharp rise of 24.4 percent in the second quarter of this year. This marks a significant increase from the 20.7 percent growth recorded in the first quarter. The report, featured in MAN’s latest… Read More
CPPE Warns Regulatory Agencies Against Demarketing Local Investors
Worried about the growing incidents of regulatory irritations, distractions and frustrations inflicted on manufacturing sector and other investors in the country, the Centre for the Promotion of Private Enterprise (CPPE) has warned regulatory agencies to desist from making statements capable of demarketing local investments in the… Read More
ECONOMY HEADLINES
PUNCH
Economic Activities Contracted To 49.7pts In July – CBN
The Central Bank of Nigeria has reported that economic activities in the country have experienced continued contraction, marking the 13th consecutive month of decline since June 2023. It specifically said activities in Nigeria’s economy contracted to 49.7 points in July this year, though a slight improvement when compared with the 48.8 points… Read More
SUN
Transaction Volumes In Nigeria’s FMCG Market Decline By 17% Amid Inflation Surge
Nigeria’s Fast-Moving Consumer Goods (FMCG) sector is grappling with a substantial decline in transaction volumes, as revealed by the latest NielsenIQ report. The economic strain caused by escalating inflation has resulted in a notable 17.4% drop in transaction volumes as of March 2024, a significant worsening from the 4% decrease… Read More
THENATION
NUPRC: Oil Production Rises By 33,698bpd
Nigeria’s crude oil and condensate production rose by 33,698 barrels per day (bpd) to hit 1.53million barrels per day (mb/d) in July 2024. This was contained in the “Oil Production Status Report,” which the Nigerian Upstream Petroleum Regulatory Commission (NUPRC) released yesterday. The report, which was that of Crude Oil and… Read More
POLITICAL HEADLINES
VANGUARD
Tinubu Calls For African Unity To Achieve Development
President Bola Tinubu on Wednesday said without peace, progress will be impossible for development in Africa. The President also said that peace, stability, and democracy are the keys to Africa’s progress and development. Speaking at a dinner organized in his honour by President Teodoro Obiang Nguema Mbasogo of Equatorial Guinea, Tinubu… Read More
PUNCH
Senate Proposes N50m Fine For Unlicensed Insurance Firms
The Senate has proposed a fine of N50m to the principal officers of insurance companies operating without valid licenses or that they be sentenced to a two-year prison term or both. It proposed this in a bill sponsored by Senator Tokunbo Abiru (APC, Lagos East) and 40 others titled, ‘Nigeria Insurance Industry Reform Bill, 2024,’ which seeks an… Read More
TECHNOLOGY HEADLINES
THENATION
Federal Government Develops App For Youths To Report Crimes, Curb Insecurity
The Federal Government has deployed a mobile application known as “Mobiliser” meant for youths to report crimes and criminalities in their areas within their comfort zones. The Director-General, National Orientation Agency (NOA), Issa Lanre-Onilu, announced this yesterday, during a meeting with media executives and top editors, at… Read More