Business

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 …

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 …

The Federal Government has announced that the disbursement of N150 billion loans to manufacturers and micro, small and medium enterprises (MSMEs) will commence in September. This was confirmed by the Minister of Industry, Trade and Investment, Dr Doris Uzoka-Anite, during a meeting with beneficiaries of the Presidential Grant and prospective beneficiaries of the MSME Presidential Loan in Calabar, Cross Rivers …

The Federal Inland Revenue Service (FIRS) is seeking support from the National Assembly to enact a comprehensive law regulating the cryptocurrency industry in Nigeria. The move comes as the government grapples with the challenges and opportunities presented by this rapidly growing digital asset. FIRS Executive Chairman Zacch Adedeji made the announcement, on Saturday, at a stakeholders meeting with the Senate …

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 …