Business

The Nigerian Petroleum Regulatory Agency (NMDPRA) on Thursday issued a stern warning to petrol stations against supplying premium motor fuel (PMS), or petrol, to illegal traders. The regulator has vowed to take action against those who violate the directive. In a post on X, the NMDPRA announced that it will suspend the licenses of gas stations found selling fuel to …

Investors in the Nigerian equity market had a tough trading week on the NGX floor with losses of N846.53 billion as market capitalization fell to N55.13 trillion from N55.98 trillion the previous week. This follows a loss of N480 billion in the previous week. The stock exchange recorded losses on all five trading days of the week. Market capitalization decreased …

Polyvinyl Chloride (PVC) is a synthetic plastic polymer made from the polymerization of vinyl chloride. It is one of the most widely produced plastics in the world, known for its versatility, durability, and affordability. PVC is composed of two base materials: chlorine derived from industrial-grade salts and ethylene, derived from petroleum or natural gas. The result is a highly durable …

Nigeria’s equity market ended the week in bearish territory for the fifth straight day on Friday as investors lost N4 million at the close of trading. This follows a decline in the prices of shares such as LEARN AFRICA, CADBURY, and NEIMETH among others on the trading floor. After five hours of trading in the capital market, equity capitalization dropped …

The three tiers of government on Friday shared the revenue allocation of N1.35 trillion for July. A communique issued at the end of the Federation Account Allocation Committee (FAAC) meeting in Abuja revealed the total distributable fund of N1.35 trillion comprising official revenue of N161.593 billion, Value Added Tax (VAT) revenue of N582.307 billion and Electronic Money Transfer Levy (EMTL) …

Minister of Finance and Coordinating Minister for Economic Affairs, Wale Edun, said on Thursday that the Federal Government has increased the country’s foreign exchange reserves by $4 billion since January. The minister stated this at an investors’ meeting for the issuance of $500 million Federal Government bonds in Lagos. He said the federal government’s aggregate revenues had doubled. Edun said …

For the fourth straight day this week, the downward trend in the Nigerian equity market continued on Thursday as investors lost N84 billion at the close of trading. This follows a decline in share prices such as OANDO, ABCTRANS, and GUINEAINS among others on the trading floor. After five hours of trading in the capital market, equity capitalization declined to …

For the first time since December 2022, Nigeria’s headline inflation rate fell to 33.40 percent in July 2024, the latest data from the National Bureau of Statistics (NBS) showed. This figure is down from 34.19 percent in June 2024. This marks the first decline in the headline inflation rate since December 2022, when it last fell to 21.34 percent. The …

The downward trend in the Nigerian equity market continued on Wednesday as investors lost N80 billion at the close of trading for the day. This follows the decline in share prices of stocks such as OANDO, CUTIX, and ACADEMY among others on the trading floor. After five hours of trading in the capital market, equity capitalization dropped to N55.21 trillion …

The Central Bank of Nigeria (CBN) has drawn the ire of a lawyer and Senior Advocate of Nigeria (SAN) over his comments on a petition accusing Ecobank Nigeria (ENG) and Ecobank Transnational Inc. Specialized Resolutions Company (ETISRC) of wrongdoing in a matter that also involves Wilben Trade (Wilben), and its CEO, Marcus Wade. Wilben and Wade have issued a press …