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Investors enjoyed positive moves last week following strong performances from stocks such as Airtel Africa Access Corp UCAP, and NAHCO among others. Nigerian equity markets rallied in four out of five trading sessions as the benchmark All Share Index (ASI) rose +0.87% to close at 100,539.40 points from 99,671.28 points in the previous week. Investors gained N320.84 billion as market …

Here are the top 10 headlines across the country 1. House threatens sanctions against oil companies over $60 billion cash-in-hand phone call probe The House Joint Committee on Finance and Petroleum Resources (Upstream) has issued a stern warning threatening punitive action against oil companies that refuse to cooperate in the ongoing probe into the alleged $60 billion embezzlement under the …

President Bola Tinubu has arrived in Accra, Ghana, to attend the 6th Mid-Annual Coordination Meeting of the African Union (AU), currently underway in the West African country. The President was welcomed by a delegation of Nigerian officials, including the Minister of Foreign Affairs, Ambassador Yusuf Tuggar, and the Chargé d’Affaires of the Nigerian High Commission in Ghana, Ambassador Dayo Adeoye. …

The House of Representatives Joint Committee on Finance and Petroleum Resources (Upstream) has issued a stern warning threatening punitive action against oil companies that refuse to cooperate in the ongoing investigation into an alleged $60 billion inflated cash call under the Joint Venture Agreement of the Nigerian National Petroleum Company Limited. Co-chaired by James Faleke (Finance) and Alhassan Ado-Doguwa (Petroleum …

In a surprise announcement on Saturday, President Joe Biden declared his decision to withdraw from the presidential race, citing the best interests of his party and the country. Biden, who has previously stated his intention to run for re-election, stressed that stepping down would allow him to focus fully on his duties as president for the remainder of his term. …

Former presidential candidate and political economist, Prof. Pat Utomi, has lashed out at President Bola Tinubu’s Special Adviser on Information and Strategy, Bayo Onanuga, following allegations that he (Utomi) was one of the organizers of nationwide protests planned to begin on August 1. Onanuga, in a statement posted on X on Saturday, alleged that Utomi, Peter Obi and their supporters …

Aliko Dangote, owner of Dangote Refinery and Petrochemicals has refuted claims by the Nigerian Midstream and Downstream Petroleum Regulatory Authority (NMDPRA) about the quality of petroleum products from the refinery and allegations of attempts to monopolise the industry. He spoke during a tour of the Dangote Oil Refinery and the Dangote Fertiliser Limited complex located at the Lekki Free Trade …

Here are the top 10 stories making headlines across the country. 1. I’m not in APC, but appreciate Tinubu’s bold reforms —Okupe Former Director-General of the Labour Party Presidential Campaign Council, Dr. Doyin Okupe, said on Saturday that he is not a member of the All Progressives Congress (APC) but appreciates the bold reforms initiated by President Bola Tinubu’s administration. …

In a damning ruling, the Nigerian Midstream and Downstream Petroleum Regulatory Agency (NMDPRA) has declared the quality of petroleum products from the Dangote Refinery, as well as those from other refineries such as Watersmith, Aradel, as inferior to imported products. This comes even as the agency revealed that the 650,000 barrels per day refinery has not been granted an operational …

Investors in the Nigerian stock market enjoyed a rally on the NGX floor after making a gain of N320.84 billion in the just-ended trading week. The exchange recorded profits on four of the five trading days and losses on only one trading day. Market capitalization rose by N320.84 billion to N56.93 trillion from N56.44 trillion in the previous week. Similarly, …