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NCC: A Digital Enabler of the Renewed Hope Agenda In Nigeria, a young tech-savvy and upwardly mobile population is teeming, and exploring derivable benefits of digital technologies. They are propelled by rapidly expanding internet access and steady broadband penetration, currently about 43 per cent. Our digital economy is poised for significant growth, positively impacting various […]

NDDC Urges IOCs to Pay over $700m Outstanding Debt The Niger Delta Development Commission (NDDC) has appealed to International Oil Companies (IOCs) to pay up the whopping sum of 700 million U.S. dollars in debts they owe the commission. The Managing Director of the commission, Dr Samuel Ogbuku, made the appeal during a virtual media […]

ExxonMobil Signs $1.28bn Asset Divestment Deal in Nigeria EXXONMOBIL: The Nigerian National Petroleum Company Limited (NNPC Ltd.) on Thursday announced the signing of a settlement agreement facilitating the divestment of ExxonMobil’s stake in Mobil Producing Nigeria Unlimited (MPNU) to Seplat Energy Plc. This is coming two years after the divestment plan was announced. The NNPC […]

Naira Disappoints, Loses 11.7% Despite FX Market Intervention The Nigerian naira ended today downbeat, losing about 12% day on day despite forex market intervention. Despite FX sales to local banks, exchange rate has been walking in dark as critics disagree with the Central Bank of Nigeria’s (CBN) willing buyer, willing seller FX model. The monetary […]

Oil Dips over Weak Demand, US Dollar Strength Oil prices declined on Thursday amid ongoing uncertainties over the timing of the US Federal Reserve’s (Fed) interest rate cut, which fuelled demand concerns in the world’s largest oil-consuming country.  Also, strong US dollar raised energy cost ahead of OPEC+ meeting this weekend. Brent crude traded at […]

Equities Investors Wealth Rises by N259bn to N56.2 Trillion Equities investors wealth rose by over N259 billion to about N56.2 trillion on Thursday in the stock market. The gain drove Nigerian Exchange (NGX) equities market capitalization higher, thanks to bargain hunting in banking and oil and gas stocks. The large daily gain also lifted stock […]

Nigeria’s Growth Rate Projected to Increase to 4.4% in 2025- AfDB Growth rate of Nigeria and other West African countries is projected to rise from an estimated 3.6 per cent in 2023 to 4.2 and 4.4 per cent in 2024/2025. The African Development Bank (AfDB) Vice-President and Chief Economist, Kevin Urama, said this at Thursday’s […]Read More

BUA Cement Paused after Underwhelming Earnings in Q1 BUA Cement Plc has continued to trade flattish in May after underwhelming earnings performance in the first quarter of 2024. The cement stock market price has been steadied at N143.2 since it released its financial scorecard last month. Transaction volume on the cement stock has been limited […]

UBA, Access, FBNH Drive Intraday Gain on NGX Equities investors are currently taking position on some banking names on the Nigerian Exchange (NGX) amidst fresh rallies that started this week. Stockbrokers said investors’ appetite for Tier-1 banks stocks continue to increase despite elevated yield in the fixed interest securities market. According to Alpha Morgan Capital […]

FG Seeks Public-Private Sector Synergy to Achieve 70% Digitalisation The Federal Government says that it expects collaboration within the public and private sectors to achieve 70 per cent digitalisation in Nigeria by 2025. The government said this at the one-day 1Government Cloud Digitalisation Retreat for federal MDAs of government organised by Galaxy Backbone (GBB) on […]

Federal Government on Thursday inaugurated an Inter-Ministerial Steering Committee that will review the Intellectual Property Policy and Strategy Draft for Nigeria. At the Inauguration ceremony which took place at the Ministry of Industry, Trade and Investment, the Minister, Dr. Doris Uzoka-Anite, said that the committee’s task is to review the draft policy and strategy, ensuring […]

The Investment and Securities Tribunal (IST) said it has so far resolved 300 capital market disputes valued at N1 trillion since its inception in 2003. This was disclosed by the Chairman of the Investment and Securities Tribunal, Mr. Amos Isaac Azi during an interaction with journalists in Abuja. Mr Azi also pointed out that the […]