Business

Investors in the Nigerian capital market lost N49.8 billion at the close of trading on Thursday. This followed the crash in the market capitalization from N35.84 trillion to N35.79 trillion after five hours of trading today. Also, the All-Share Index dipped by 90.99 basis points to close at 65,401.82, down from 65,492.81 ASI posted by the bourse on Wednesday. Investors …

Ikeja Hotel has adopted cost savings measures that resulted in some of its workers losing their jobs, as the management struggled to make the company a going concern in 2023. Ripples Nigeria learnt that Ikeja Hotel downsized its workforce by 211 in 2022, reducing its staff strength to 201 from 412 employees working at the hospitality company in 2021. During …

Africa’s Global Bank, United Bank for Africa (UBA), has pledged to continue to be at the forefront of empowering the creative industry across the continent.  The Group Deputy Managing Director, Muyiwa Akinyemi who said this noted that with the Bank’s visionary commitment towards nurturing and promoting talent, UBA continues to make significant investment in the creative sector, such as its …

So far, there is no doubt that President Bola Ahmed Tinubu has impressed many critical stakeholders and other Nigerians regarding his recent appointments, particularly those he has been working with at the Presidential Villa as SAs and SSAs, in the ministries as well as in the different agencies under Works, Information, Trade and Investment and Health. There are convictions that …

With the prices of crude on the global market going south, Nigerians could see a reduction in fuel pump price if the situation persists, Blueprint has gathered. After seven consecutive weeks of gains, global crude oil prices fell recently, after China reported weak economic data. A review of global crude oil prices on Tuesday, revealed that China’s weak economic activity …

The Naira exchanged for N773.42 to the dollar at the Investors and Exporters window on Wednesday. This indicated that the Nigerian currency depreciated by 0.35 percent compared with N770.72 to dollar recorded at the investors and exporters window on Tuesday. The open indicative rate closed at N781.49 to the dollar on Wednesday.READ ALSO: NNPC secures $3bn Afreximbank loan to strengthen …

The Nigeria Labour Congress (NLC), on Sunday, alleged that the love for foreign goods by government official is the major reason for the continous decline of the Nigerian currency, naira against the dollar and other major foreign currencies. While lamenting the devastating impact of the forex crisis on the economy, labour congress demanded urgent stabilisation of the naira. The NLC …

The equity capitalization in the Nigerian capital market crashed by 1.38 percent at the close of trading on Friday. This represented a N518.08 billion dip in the value of investments at the capital market from N37.36 trillion to N36.84 trillion at the close of the day’s business. Similarly, the All-Share Index dipped by 946.55 basis points to close at 67,324.59, …

Minister of State for Petroleum Resources (Oil) Senator Heineken Lokpobiri has revealed that the ongoing quick-fix project at the Kaduna Refinery and Petrochemicals Company Limited, KRPC, will be back on stream by the end of 2024. The Minister disclosed this during an inspection tour of Kaduna Refinery & Petrochemicals while assessing the progress of work on the ongoing quick-fix project …

The National Insurance Commission (NAICOM) has taken the campaign for compulsory insurances to the Nasarawa State Government, ahead of its National Insurance conference, scheduled for October, 2023. A statement from the Commission said the Commissioner for Insurance  Mr.Olorundare Sunday Thomas led a delegation from NAICOM on a courtesy visit on the Executive Governor of Nasarawa State,  Engr. Abdullahi A. Sule …