Business

The Centre for Promotion of Private Enterprise (CPPE) has lamented the overzealous policies of regulatory bodies in Nigeria. This, according to the economic think tank, has led to increasing incidents of regulatory interference, disruption and frustration befalling Nigeria’s manufacturing sector and other investors in the Nigerian economy which is becoming worrying. In a statement signed on Sunday by CPPE Director/CEO, …

10 reasons why gutter systems are important for modern buildings A gutter system is an essential component of a building’s exterior that collects and diverts rainwater away from the building’s structure. Typically installed along the roofline, the system consists of horizontal gutters and vertical downpipes. The gutters capture water as it flows off the roof, while the downpipes channel this …

The Central Bank of Nigeria (CBN) has issued a new directive requiring foreign investors to provide concrete evidence of their investment transactions before they can repatriate funds or dispose of their holdings. This move is aimed at ensuring transparency and accountability in the foreign investment landscape. In a circular signed by WJ Kanya, acting director, department of trade and exchange, …

Investors in the Nigerian equity market enjoyed a fairly profitable trading week on the NGX floor, gaining N480 billion in the just-ended trading week. This comes after a loss of N107 billion in the previous week. The bourse posted losses on two of the five trading days and made gains on three as equity markets began to recover from the …

Dozens of community residents from the steel giant ArcelorMittal operational areas in three countries have protested here, demanding social corporate benefits, including health, roads, education, and compensation for the destruction of their homes and farmlands.     By Thomas Domah, Nimba County  Nimba, Liberia, August 9, 2024 -The three most affected counties from ArcelorMittal Liberia’s operation under the banner Aggrieved Communities have expressed …

Nigeria’s equity market closed the week with a gain of N270 billion by investors on Friday. This follows the increase in stock prices such as JULIUS BERGER, ETERNA, and UCAP among others on the trading floor today. After five hours of trading in the capital market, equity capitalization rose to N55.9 trillion from N55.7 trillion recorded by the bourse on …

Dangote Refinery and Petrochemical Plant Operator has rejected claims by one of the regulatory bodies in Nigeria’s oil and gas ecosystem, the Nigerian Upstream Petroleum Regulatory Commission (NUPRC), regarding crude oil supplies. The NUPRC in a recent statement claimed that its nine refineries had benefited from its supply of 32 million barrels of crude oil — with Dangote alone getting …

The Nigerian Shippers Council (NSC) lamented the absence of a functioning rail system to evacuate cargo from ports to various destinations. The Executive Secretary/Chief Executive of the Council, Barrister Pius Akutah stated this while delivering a speech at a one-day stakeholders’ summit titled “Constraints of Rail Cargo Transportation in Nigeria” organised by the Freight Shippers Council of Nigeria in collaboration …

The Federal Government has lifted the suspension of Arik Air operations. In July, the Nigerian Airspace Management Authority (NAMA) suspended Arik Air’s operations over alleged failure to pay a $2.5 million debt to Atlas Petroleum International Limited. On August 2, the Nigerian Civil Aviation Authority (NCAA) suspended Arik Air flight operations and grounded its three affected aircraft – 5NMJF, 5NMJQ, …

Nigeria’s equity market maintained its positive trend on Thursday as investors earned N577 billion at the close of trading for the day. This follows the increase in share prices of several stocks such as MTNN, VITAFOAM, and UNILEVER among others on the trading floor today. After five hours of trading in the capital market, equity capitalization rose to N55.7 trillion …