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Transcorp Hits N236bn as Investors Line Up for Shares after Abuja Disco Acquisition Market valuation surged to about N236 billion as Alpha seekers took a special interest in Transcorp Plc.’s shares following its majority share acquisition in Abuja Electricity Distribution Company in the recent time. The conglomerate recorded an impressive market valuation surge of 39% […]

NGX Gains N459bn as Transcorp, Dangote Sugar Rally With an impressive from the beginning of the year to date, the Nigerian Exchange (NGX) has become a money making machine for Alpha seekers who have mastered the art of risk-taking on growth, and value stocks in the local bourse. At about N459 billion weekly gain, the […]

FX Rates: CBN Says No Plan to Sell US Dollars to BDCs The Central Bank of Nigeria (CBN) said there is no plan to commence weekly foreign currency sales to Bureau de Change operators after the monetary authority capped the foreign exchange (FX) spread to 2.5%. The authority said this amidst insinuation and confusion on […]

Banks Lending Appetites Reduce as Stage 2 Loans Spike Tracking below 65% loan-to-deposit ratio targets, Nigeria’s big banks’ loan appetite moderated in the first quarter of 2023, and analysts believe the pattern could be sustained as the market awaits earnings results to be posted. Despite higher net interest margin on lending, local lenders appetite reduced […]

Analysts Cut Oil Production Estimate After Uninspiring Q2 Figure Analysts have lowered their oil production expectation for the third quarter of 2023 to 1.3 million barrels per day (mbpd), citing an uninspiring performance in the oil and gas due to terminal shut-ins, pipeline maintenance, and ageing infrastructure. Nigeria continues to face challenges in crude oil […]

Weak Macro Tempers Real Estate Market Performance Real estate services surged by 1.87% in the second quarter of 2023 amidst uncertainties, and declining occupancy rates in key areas in major cities amidst multiple pressures affecting demand in the urban areas of Lagos, Rivers States, Abuja and Kano among others. According to operators in the segment, […]

Producers GDP Shrinks 15% over Inflation, Interest, FX Hurdle Nigeria’s large buckets of uncertainties stoked pressures on the productive segment of the economy in the second quarter of 2023, according to recently published data from the statistics office.  Growth slumped in the second quarter, an aftermath of multiple pressures facing the economy. In the second […]

The presidential candidate of the Peoples Democratic Party, Atiku Abubakar, has taken another swipe at President Bola Tinubu querying his primary and secondary education claim. Atiku made this known via his X (formerly Twitter) verified account on Sunday. According to the former Vice President, in 1999, Tinubu claimed to have attended St. John’s Primary School […]

President Bola Tinubu has taken a strong stance against the prevailing economic model in Nigeria that allocates a substantial 90% of the nation’s limited revenue to servicing external debts. Addressing the audience at the Annual Conference of the Nigerian Bar Association (NBA) in Abuja, President Tinubu underscored the need for immediate reforms to redirect resources […]

The new Minister of Art, Culture and Creative Economy, Hannatu Musawa, has said that she is a corps member following the call for her removal over her active status in the scheme. Musawa insisted that she had not broken any part of the laws of the National Youths Service Corps in a statement titled, “My […]

By Elder Akinwunmi Julius Olaiya The title of this piece may sound alarming and far-fetched, but I am not fear-mongering or sabre-rattling on behalf of the Nigerian military. As someone with insight into the workings of the Nigerian Judiciary, I can unequivocally state that the ongoing hate rhetoric against this arm of government is unprecedented […]

Socio-Economic Rights and Accountability Project (SERAP) has urged President Bola Tinubu to use his “good offices and leadership position to immediately reverse the unlawful ban on 25 journalists and media houses from covering the presidential villa and restore the accreditations of those affected.” SERAP urged him “to publicly instruct the officials in the presidential villa […]