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NGX Pops as BUA Foods, Zenith, Transcorp Rally The equities segment of the Nigerian Exchange (NGX) spiked as investors pick interest in Zenith Bank, Transcorp and BUA Foods. According to stockbrokers, the local bourse extended its 5-day positive run as the exchange All-share index expanded while year-to-date advanced. Data from the stock market showed that […]

Ecobank Stays Balance Ahead of Eurobond Payment Pan African lender, Ecobank Transnational Incorporation (ETI) boosted its earnings performance in the financial year 2022 with few but important downside risks. However, the group’s exposure to foreign currencies had a run on its results. Both Ghana cedis and Nigerian naira rates were depressed as the group was […]

Suspension of Fuel Subsidy Removal Best Option, Says NLC The Organised Labour has described the Federal Government’s decision to suspend the removal of fuel subsidy as the “best option”. Mr Benson Upah, Head of Information, Nigeria Labour Congress (NLC) said this to newsmen while reacting to the recent suspension of the subsidy removal by the […]

UBA Shareholders Approve 110 Kobo Dividend Per Share Pan African financial services group, United Bank for Africa (UBA) Plc, shareholders have approved its board of directors’ proposal to pay a dividend of N1.10 per share for the financial year 2022. The shareholders gave their approval at the bank’s 61st Annual General Meeting (AGM) held virtually […]

Oil Rises over Positive Demand Expectation Market prices of oil prices increased on Thursday after the United States (US) data revealed a decline in crude inventories, indicating an improvement in the country’s oil demand. International benchmark Brent crude traded at $78.04 per barrel, representing a 0.41% increase from the closing price of $77.72 a barrel […]

OPEC+ Sees No Need to Cut Oil Output Further- Russia Major producers in the oil group –the Organisation of Petroleum Exporting Countries (OPEC) and allies (OPEC+) do not see the need for further production cuts, Russian Deputy Prime Minister Alexander Novak said on Thursday. Speaking to the reporters in Moscow, Novak said that given the […]

Commodity Prices to Fall 21% in 2023 World Bank Says Projecting at least a 21% slump, global commodity prices are expected to decline this year at the fastest clip since the onset of the COVID-19 pandemic, clouding the growth prospects of almost two-thirds of developing economies that depend on commodity exports, according to the World […]

Subsidy Removal: Economic Council to Consult Governors The National Economic Council (NEC) has agreed that the timing for the removal of oil subsidy should not be now but preparation work has to be done in consultation with the State Governments and other key stakeholders. Minister of Finance, Budget and National Planning, Dr Zainab Ahmed, stated […]

Illegal Oil Sale to China: Malami Describes Alleged $2.4bn Loss Baseless The Minister of Justice and Attorney General of the Federation (AGF) Abubakar Malami has dismissed claims that Nigeria lost over 2.4 billion dollars in revenue from the alleged illegal sale of 48 million barrels of crude oil exported in 2015 to China. Malami faulted […]

Twenty two-year-old conjoined twin sisters, Carmen and Lupita Andrade, who are attached at the body and share a reproductive system have revealed how they coordinate everything from dating to deciding what to wear and where to be. Because they have so many internal structures, according to Carmen and Lupita, having separation surgery would be far […]

The Senator representing Kogi West Senatorial District, Senator Smart Adeyemi, a son of Former Kogi State Governor, Shuaibu Abubakar have approached the Federal High Court to nullify the just concluded All Progressives Congress (APC) primary for the selection of the party’s candidate in the forthcoming governorship election. Besides, the plaintiffs have called on President Muhammadu […]

President Muhammadu Buhari has stressed that while the All Progressive Congress (APC) was working hard to retain power in the recent elections, the combined opposition parties was a victim of over confidence- the main reason why he believed they lost. Speaking Thursday at his residence in the State House, Abuja where he received the Progressive […]