Business

The equity market continued its bearish sentiment on Thursday as investors lost N64 billion at the close of trading for the day. This follows the decline in share prices of shares such as TRANSCOHOT, CHAMS and ETERNA among others on the trading floor. After five hours of trading in the capital market, equity capitalization plunged to N54.9 trillion from N55.04 …

Investors in the Nigerian capital market lost N599 billion at the close of trading on Wednesday. This follows the decline in share prices of stocks such as UPL, OANDO, and NASCON among others on the trading floor today. After five hours of trading in the capital market, equity capitalization plunged to N53.04 trillion from N54.4 trillion recorded by the bourse …

Minister of State for Petroleum Resources, Heineken Lokpobiri, said on Wednesday that the Federal Government will continue to support local refineries in the country. Lokpobiri gave the assurance at the 2024 PENGASSAN Energy and Labour Summit in Abuja. He said the development of local refineries would increase crude oil production, boost domestic refining, reduce dependence on imported refined products, and …

The National Data Protection Commission (NDP) on Wednesday announced that it has imposed a fine of N555.8 million on Fidelity Bank. Tier one bank fined for breaches related to customer data breach. The announcement was made by NDP National Commissioner, Vincent Olatunji, at the Validation Workshop on the Implementation Directions and General Implementation of the Nigerian Data Protection Act held …

Nigeria’s crude oil producers have opposed being forced to sell their products to the Dangote Refinery and other local refineries, saying it negates the framework of willing buyers and willing sellers. Oil producers, under the auspices of the Independent Petroleum Producers Group (IPPG) have urged the Nigerian National Petroleum Company Limited to divert the volume of crude oil allocated to …

The equity market on Tuesday reversed several days of trading losses with investors gaining N66 billion at the close of trade. This follows the growth in stock prices such as LEARNAFRICA, OANDO, and CUTIX among others on the trading floor. After five hours of trading in the capital market, equity capitalization rose to N54.4 trillion from N54.3 trillion recorded by …

Amid severe shortages and the return of long fuel queues across the country, oil marketers under the auspices of the Independent Petroleum Marketers of Nigeria (IPMAN) have revealed that the state oil company, Nigeria National Petroleum Company Ltd NNPCL has not been supplying petroleum products directly to them for the past three years. As a result, marketers said they now …

The Federal Government has announced that it will start selling crude oil to local refineries, including the Dangote Refinery, in naira from October 1, 2024. Minister of Finance and Coordinating Minister for Economic Affairs, Wale Edun, made the announcement at a meeting with the Implementation Committee on Monday in Abuja. According to a post on the Ministry of Finance’s official …

The equity market kicked off the new trading week on a bearish note on Monday, August 19, 2024 as investors lost N746 billion by the end of the trading session. This follows the decline in stock prices such as DANGCEM, NSLTECH AFRIPRUD and others on the trading floor. After five hours of trading in the capital market, equity capitalization decreased …

Petroleum marketers in the country, under the auspices of the Petroleum Products Retail Outlets Owners Association (PETROAN), attributed the latest petrol shortage to the non-supply of the product by the Nigerian National Petroleum Company Limited (NNPCL). The statement follows the return of queues at fuel stations across the country, with some marketers selling a litre of petrol for ₦1,000 over …