BUSINESSPOST
Selling Pressure Weakens Nigerian Stock Market By 0.49%
The Nigerian Exchange (NGX) Limited depreciated by 0.49 per cent on Thursday, driven by selling pressure on banking equities, especially those in the tier-1 category. The likes of GTCO, FBN Holdings, Access Holdings witnessed sell-offs during the trading session, contributing to the weak investor sentiment observed at the Nigerian stock… Read More
SUN
950,000 Barrels Oil Cargo Berths At Dangote Refinery
The first crude oil cargo to herald the production of petroleum products will berth at the Dangote refinery receiving terminal by 8pm(yesterday) December 7 from Agbami. The development is set to douse speculations over the actual date of production at 650,000 barrels per day. Though the chairman of Dangote Industries Limited, Aliko… Read More
Cost Of Imported Goods To Increase As CBN Hikes Exchange Rate To N951.941/$1
Importers and port clearing agents woke up to a rude shock on Thursday morning to discover that the Central Bank of Nigeria (CBN) in agreement with the Finance Ministry has upwardly adjusted the exchange rate used in computing Customs levies from N783.174/$1 to N951.941/$1. The effect of that is that the prices of imported goods will… Read More
PUNCH
Marketers Lament As Inflation, Forex Shoot Up Operating Costs
Accelerating inflation and the foreign exchange shortage in the country have been having adverse impacts on the businesses of oil marketers, OPEOLUWANI AKINTAYO writes The country’s high inflation trend and scarcity of foreign exchange are beginning to take a serious toll on the businesses of oil marketers. They claimed that the cost of… Read More
ECONOMY HEADLINES
SUN
Federal Government To Tackle Multiple Taxes, Charges Plaguing Aviation Sector
The Federal Government has promised to intervene in problems caused by agencies collecting double taxation, multiple levies and charges which has plagued the aviation sector for decades. At a Business Breakfast Meeting hosted by the Aviation Round Table Initiative in Lagos on Thursday, with theme, “Nigerian Aviation Sector Charges, Duties… Read More
PUNCH
Forex Inflow Hits $11bn In Two Months – CBN
Nigeria recorded $11.11bn aggregate foreign exchange inflow in July and August, figures obtained from the Central Bank of Nigeria revealed. According to figures obtained from the CBN’s August economic report on foreign exchange flows through the economy, August’s figure rose by of 5.8 per cent from July. The report said, “The economy… Read More
Africa’s Annual Loss To Carbon Tax May Hit $25bn – AFDB
African Development Bank Group President, Dr Akinwumi Adesina, has warned that a new EU carbon border tax could significantly constrain Africa’s trade and industrialisation progress by penalising value-added exports including steel, cement, iron, aluminium and fertilizers.While addressing delegates at the Sustainable Trade Africa… Read More
POLITICAL HEADLIINES
PUNCH
Kaduna Bombing: Federal Government Vows To Punish Culprits, ACF Demands GOC’s Removal
The pan-northern socio-political organisation, the Arewa Consultative Forum, on Thursday, demanded the removal of the General Officer Commanding One Division of the Nigerian Army, Kaduna, Major-General V.U. Okoro, over the accidental bombing of Tudun Biri in the Igabi Local Government Area of Kaduna State on Sunday night. The ACF… Read More
PEOPLESDAILY
2024 Budget: House Of Representatives Will Seek More Accountability From Security Agencies – Speaker Abbas
House of Representatives will demand more accountability from the security agencies on the performance of their budgetary allocations, the Speaker of the House, Rt. Hon. Tajudeen Abbas (Ph.D) has said. He emphasised that the judicious use of the funds will yield far reaching results in the fight against terrorism and insurgency amongst other… Read More
TECHNOLOGY HEADLINE
PUNCH
5G Subscriptions To Exceed Expectations
The number of 5G mobile subscriptions globally will reach 1.6 billion by the end of this year, according to new data from Ericsson. According to Telecoms.com, that is more than the Swedish equipment maker and font of industry knowledge predicted just a few short months ago. The latest edition of Ericsson’s Mobility Report opens with the assertion… Read More