Business

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 …

After several days of positive trading, the Nigerian equity market plunged back into bearish territory on Wednesday as investors lost N176 billion at the close of trading. This follows a decline in the prices of shares such as Neimeth, Tantalizers and MTN Nigeria, among others, on the trading floor. After five hours of trading in the capital market, equity capitalization …

Malaysia, the Netherlands and Brazil emerged as Nigeria’s top export destinations in the first half of this year. Executive Director of the Nigerian Export Promotion Council (NEPC), Nonye Ayeni stated this at a meeting on Wednesday in Abuja. He said that as many as 211 products were exported from the country during that period. The NEPC chief said the country’s …

Billionaire businessman and industrialist, Alhaji Aliko Dangote has lost his position as Africa’s richest man to South African businessman, Johann Rupert. In the latest data from the Bloomberg Billionaires Index released on Tuesday, Rupert, chairman of luxury goods conglomerate Richemont, overtook Dangote, chairman of Dangote Industries Limited, as Africa’s richest person. According to the BBI, Rupert’s net worth has soared …

In a historic development, Quidax, an Africa-based crypto exchange platform has become the first crypto platform to be granted an operating license by the Securities and Exchange Commission (SEC). The development marks the beginning of formal recognition and adoption of cryptocurrencies amid an ongoing regulatory spat between the Nigerian government and Binance Holdings Ltd, another crypto trading platform. Speaking on …

The equity market maintained its bullish trend on Tuesday as investors earned N271 billion at the close of trading for the day. This follows the increase in share prices of companies such as Total, Julius Berger, and John Holt among others on the trading floor. After five hours of trading in the capital market, equity capitalization increased to N55.4 trillion …

State-owned oil company, Nigerian National Petroleum Company Limited (NNPCL) has commenced shipment of Liquefied Natural Gas (LNG) cargoes to Japan and China on a Delivered Ex-Ship (DES) basis. This was made possible through the collaboration of its two Downstream subsidiaries – NNPC LNG Ltd and NNPC Shipping Ltd. Under this agreement, the DES LNG cargo from the 174,000 m³ LNG …

Investors in the Nigerian equity market had mixed results last week as the exchange recorded three gains and two losses during the period. The benchmark All-Share Index (ASI) fell -1.16% and closed the week at 95,973.45 points from 97,100.31 in the previous week. Similarly, investors lost N2.4 billion as market capitalization fell to N55.12 trillion from N55.13 trillion the previous …

The Nigerian Upstream Petroleum Regulatory Commission (NUPRC) on Monday approved Oando Plc’s $783 million acquisition of Nigerian Petroleum Agip Company (NAOC), saying it was in accordance with existing laws and procedures. Olaide Shonola, Head of the Upstream Regulator’s Public Affairs Unit, said in a statement that the NUPRC’s stated commitment to transparency and trust in the public’s right to know …

The equity market started the week on Monday, August 26, 2024 on a positive note as investors earned N36 billion at the end of the trading session. This follows an increase in the share prices of companies such as Eterna, Okomuoil, and Rtbriscoe among others on the trading floor. After five hours of trading in the capital market, equity capitalization …