Business

Purchasing SRC, a concessionaire, has moved Jeety Rubber LLC from a rubber processor company to a processor and a concessionaire. Monrovia, September 2, 2024: Indian philanthropist and businessman Mr. Upjit Singh Sachdeva (Mr. Jeety) has saved over 900 jobs after purchasing the Salala Rubber Corporation (SRC), potentially relieving thousands of families whose breadwinners were headed for unemployment. Through his Jeety Rubber …

The Nigerian equity market kicked off the new week and September on a positive note as investors raked in profits of N123 billion at the close of trading on Monday, September 2, 2024. This follows the rise in share prices of stocks such as Oando, IMG and ETranzact among others on the trading floor. After five hours of trading in …

The Nigerian stock market rallied again last week following strong performances from stocks such as Oando, Julius Berger, Eterna, Deapcap and others. After five days of trading, investors smiled home with profits of N348 billion last week. The Nigerian stock market rose in four of the five trading sessions as the All Share Index (ASI) rose 0.63% to close the …

Former Vice President Atiku Abubakar has slammed the Nigerian National Petroleum Company Limited (NNPCL) over its $6 billion debt to petrol suppliers. After months of denial, NNPCL on Sunday admitted that the cause of the country’s prolonged fuel shortage was debts to suppliers. Confirming the debt in a statement, NNPCL Head of Communications, Mr. Olufemi Soneye, said severe financial pressure …

After weeks of denial, the Nigerian National Petroleum Company Limited (NNPCL) has finally admitted to significant debts to fuel suppliers. This, according to the state oil company, is the cause of low fuel supplies to traders across the country. NNPC’s admission therefore comes amidst concerns that the current fuel shortage in the country could worsen. In a statement titled “NNPC …

Investors in the Nigerian equity market recorded a bullish trading session on the floor of the Nigerian Xchange Group (NGX) which gained N348.34 billion as market capitalization increased to N55.47 trillion from N55.12 trillion the previous week. This follows a loss of N2.4 billion in the previous week. The exchange recorded gains on four of the five trading days of …

Financial Derivatives Company CEO Bismarck Rewane said on Friday that the $1 trillion economic target set by President Bola Tinubu’s administration will not be achieved in the next five years. The economist stated this while appearing on the Arise TV Morning Show. He said the country’s economy is currently at $384 billion and will need another 200% growth in the …

Nigeria’s equity market closed on Friday with a gain of N98 billion for investors. This follows the growth in share prices of stocks such as Julius Berger, Deapcap and Oando among others on the trading floor. After five hours of trading in the capital market, equity capitalization jumped to N55.4 trillion from N55.3 trillion recorded by the bourse on Thursday. …

A new report released by security intelligence gathering and strategic consulting firm, SBM Intelligence, has revealed that Nigerians paid ₦1.04 billion in ransom to kidnappers in one year. In a report released Thursday, the company said 7,568 people were kidnapped in 1,130 incidents across the country between July 2023 and June this year. He added that the Federal Capital Territory …

Nigeria’s equity market recovered from trading losses on Thursday as investors gained N117 billion at the close of trading for the day. This follows the rise in share prices of the likes of Oando, Julius Berger and Cornerstone, among others on the trading floor. After five hours of trading in the capital market, equity capitalization jumped to N55.3 trillion from …