BUSINESSPOST
Profit-Takers Halt Local Stock Market’s Winning Streak With 0.35% Loss
The Nigerian Exchange (NGX) Limited could not stretch its gains to five consecutive trading days on Wednesday after it suffered a 0.35 per cent loss. The winning streak was halted at the midweek session by profit-takers, who felt it was time to sell off some equities that have fetched them some yields in the past trading sessions. This was reflected in… Read More
BUSINESSDAY
PFA`s Diversify Assets As Equity Stake Jumps 40%
Pension Fund Administrators (PFAs) in Nigeria increased their investments in equities by 40 percent in one year to manage risks and boost returns. The fund managers grew equities investments from N1.54 trillion in July 2023 to N2.16 trillion in July 2024, indicating a 40.25 percent increase over the period, according to data compiled by the Pension… Read More
VANGUARD
Power Generation Reverses Gains, Dips By 45.4% To 2,753MW
Power generation declined nationwide by 45.4 percent to 2,777.04 Megawatts, MW, yesterday after a peak generation of 5,040.72MW recorded at the national grid on Tuesday. Data obtained by Vanguard from the Nigeria Electricity System Operator, NESO, a semi autonomous unit of the Transmission Company of Nigeria, TCN, indicated… Read More
Why We Granted Regulatory Approval For Crypto Exchanges — SEC
The Securities and Exchange Commission, SEC, has emphasized that the recent approval-in-principle granted to two crypto exchanges aligns with the Commission’s objective of increasing youth participation in Nigeria’s capital market. A statement by the Commission on Wednesday noted that SEC Director General, Dr. Emomotimi Agama, stated… Read More
ECONOMY HEADLINES
VANGUARD
Nigeria, Now 3rd Largest Debtor In World Bank’s Scheme
A financial statement published by the World Bank has placed Nigeria as the third largest debtor to the Bank’s International Development Association (IDA) as of June 30, 2024. According to the financial statement, Nigeria’s exposure to IDA rose to $16.5 billion as at June 30, which is an increase of $2.2 billion, or 14.4% over $14.3 billion… Read More
Lifestyle Changes Fuel Local Coconut Demand, Production
Lifestyle changes have raised coconut demand, forcing Nigeria’s farmers to ramp up investments to tap the commodity’s boom. Health-conscious Nigerians are taking to coconuts for the management of diabetes, weight loss, high blood pressure, and premature aging. The global coconut market reached $20.24 billion in 2022 and was… Read More
DAILYTRUST
We’ll Support ‘Loyal, Existing’ Local Companies – BOI
The Bank of Industry (BOI) has vowed to support loyal and existing local companies that have continued to invest in the nation despite the global economic downturn. The BOI stated that despite the exit of some companies, others have remained dogged and resilient in expanding their frontiers in Nigeria. The Managing Director, BOI, Dr. Olasupo… Read More
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POLITICAL HEADLINES
VANGUARD
Representatives Minority Caucus Condemns Petrol Price Hike, Asks FG To Reverse Price Immediately
The Minority Caucus of the House of Representatives has strongly condemned the recent announcement by the Nigerian National Petroleum Corporation (NNPC) to increase the price of petrol. In a statement signed by the Leader of the caucus, Rep. Kingsley Chinda, the caucus described the move as “ill-timed” and “grossly insensitive” to the… Read More
National Assembly’s First Year Marked By Slow Progress On Bills, Recycling Of Proposals- OrderPaper
A performance report card released by OrderPaper, a parliamentary monitoring organization, has revealed a surge in bill sponsorships but slow progress in the first year of the 10th National Assembly. The report shows that nearly a third of the House of Representatives were recycled from previous assemblies. Out of 475 bills introduced In the… Read More
TECHNOLOGY HEADLINES
PUNCH
Cut Telecom Taxes To Boost Investments, Operators Tell Federal Government
The Global System for Mobile Communications Association has urged the Federal Government to reduce telecom taxes to encourage investments and boost the country’s digital economy. The Head of Sub-Saharan Africa at GSMA, Angela Wamola, said Nigeria’s complex and burdensome tax regime is hindering the telecom sector’s… Read More