Business

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 …

The Central Bank of Nigeria has revealed that capital imports and diaspora remittances have boosted net foreign exchange inflows into the country which have increased to $25.4 billion in the first six months of 2024. This marks a 55 percent increase from the figures recorded year-on-year. The central bank noted that these developments were evidence that progress was being made …

Following the reintroduction of the Retail Dutch Auction and an effort to ease demand pressures in the foreign exchange (FX) market and promote price discovery, the Central Bank of Nigeria (CBN) has sold $876.26 million at N1,495/$1 to 26 qualified banks in its latest Retail Dutch Auction. The amount came from a total of $1.18 billion in bids received from …

Investors in the Nigerian equity market made a gain of N96 billion at the close of trading on Wednesday. This follows the growth in stock prices of stocks such as REDSTAREX, OANDO, and RT BRISCOE, among others, on the trading floor today. After five hours of trading in the capital market, equity capitalization increased to N55.1 trillion from N55.03 trillion …

Bearish sentiment in the Nigerian equity market continued on Tuesday, with investors losing N371 billion at the close of trading for the day. This follows the decline in share prices of stocks such as BUA CEMENT, THOMASWY, and CHAMPION among others on the trading floor today. After five hours of trading in the capital market, equity capitalization plunged to N55.03 …