Business

Investors in the Nigerian equity market lost N188 billion at the end of trading on Thursday. This follows the fall in the value of shares of IKEJA HOTEL, HONEYWELL FLOUR, and SEPLAT among others on the trading floor today. After five hours of trading in the capital market, equity capitalization declined to N56.2 trillion from N56.4 trillion posted by the …

The National Oil Company of Liberia and Liberia Petroleum Regulatory Authority will co-sponsor the Technical Presentation and Networking Cocktail at the African Energy Week: Invest in African Energy Conference. CAPE TOWN, South Africa, July 11, 2024/ — As frontier exploration continues to drive upstream investment in Africa, Liberia offers extensive offshore territory to interested investors and established exploration and production …

The Nigerian equity market continued its negative trend on Wednesday with investors losing N2.18 billion at the close of trading for the day. This follows a decline in the value of THOMASWY, DAARCOMM and CWG shares among others on the trading floor today. After five hours of trading in the capital market, equity capitalization plunged to N56.456 trillion from N56.459 …

Nigeria’s average daily crude oil production rose to 1.27 million barrels per day (mbpd) in June 2024, the latest data from the Organization of the Petroleum Exporting Countries (OPEC) showed. According to the Monthly Oil Market Report (MOMR) released on Wednesday, July 10, 2024, the oil cartel said the production data was based on direct communication with Nigerian authorities. This …

In the wake of the COVID-19 pandemic, there has been a marked increase in international trade and a greater reliance on digital commodities and e-commerce around the world. The importance of cross-border payments—financial transactions in which the payer and recipient are located in different countries—has been highlighted by this shift. This blog post explores the ins and outs of cross-border …

Nigeria’s equity market continued its negative trend on Tuesday as investors lost N113 billion at the close of trading for the day. This follows the suspension of trading in some shares by the Nigerian Xchange Group (NGX) for failing to file its 2023 audit results. NGX Issuer Regulatory Department Head Godstime Iwenekhai, in a statement on Monday, announced the suspension …

The Senate on Tuesday called for increased budget allocations to the Securities and Exchange Commission (SEC). Chairman of the Senate Committee on Capital Markets, Osita Izunaso, made the call when SEC Director-General, Dr. Emomotimi Agama, appeared before the committee to defend the commission’s 2024 budget. He said the Rp22.40 billion budget allocated for the commission in the 2024 budget was …

The Federal Airports Authority of Nigeria (FAAN) said on Tuesday only three of Nigeria’s 22 airports were profitable. FAAN Managing Director, Olubunmi Kuku, made the remarks while appearing on Channels TV’s breakfast programme, The Morning Brief. He said authorities were providing cross-subsidization at 19 other airports and would continue to do so for several new airports under development. Kuku said: …

The equity market started the week on a negative note as investors recorded losses of N8 billion at the end of the trading session on Monday, July 8, 2024. This follows the decline in stock prices such as PZ, CWG, CHAMS and others on the trading floor today. After five hours of trading on the capital market, equity capitalization decreased …

Tracka, a subsidiary of BudgIT, lamented that Nigeria allocated N732 billion for unclear empowerment projects in the 2024 budget. The figure, the organization regretted, was higher than the Rp646.5 billion allocated for health projects in the budget. Tracka chief Ayomide Ladipo revealed this in his statement on Sunday. Tracka asserts that Nigerian empowerment projects are opaque and difficult to track …