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CSL Stockbrokers Bet on MTNN for 14% Upside, Cite Decent Numbers For CSL Stockbrokers, MTN Nigeria Plc is a buy over what the investment firm’s analysts called decent numbers in the first half of 2023 despite foreign exchange loss challenges that impacted the telecom company’s earnings. The telecom giant with about 39% of the market […]

NIPCO Promises Increased Investment, Sustainable Growth The Nigerian Independent Petroleum Company (NIPCO) Plc has promised to deepen its investment in the country’s hydrocarbon industry in the face of the recent full deregulation of the downstream sector. Its Managing Director, NIPCO, Mr Suresh Kumar, disclosed this at the company’s 19th Annual General Meeting in Abuja. Kumar […]

CardinalStone Sees WAPCO Good Deal with 25.2% Upside Lafarge Africa Plc (Ticker: WAPCO) has been rated a buy on an estimated 25.2% upside potential at a reference price of N27.50, according to CardinalStone Securities equity report update on the cement company. The investment firm expects Lafarge Africa’s volume sales to drop by 5.0% to 5.2MMT […]Read More

NGX Loses N150bn after 6-Week Gaining Streaks The Nigerian Exchange (NGX) equities segment lost weight following profit-taking activities on all trading sessions except for Friday last week. Overall, the local bourse lost more than N150 billion after six weeks of gaining streaks. Alpha seekers continue to position to reduce inflation pressures on naira assets under […]

Ravindra Says Merger of Dangote Food Subsidiaries Will Benefit Stakeholders The Chief Executive Officer of Dangote Sugar Refinery Plc, Ravindra Singhvi has assured stakeholders that the proposed merger between Dangote Sugar Refinery, NASCON Allied Industries, and Dangote Rice to form Dangote Foods Plc is expected to yield many benefits, solely for the growth of the business and high returns to […]Read More

Zenith Bank to Release H1-2023 Audited Report in Sept Zenith Bank Plc has announced that its audited result for the first half of the year (H1) 2023 would be delayed in order for the financial institution to attend to post-audit issues in its books. The Nigerian leading deposit money bank said in a statement signed […]

Analysts Set Inflation Rate of 25.05% for August Investment banking experts and analysts at Cowry Asset Management Limited have estimated a 25.05% inflation rate for August 2023, citing pass-through impacts of foreign exchange pressures, according to its macroeconomic update. In July, Nigeria’s inflation rate accelerated to 24.08% as impacts of fuel subsidy removal were accounted […]

NDLEA Raids Warehouse in Lagos, Recovers N4.8bn Worth of Drugs National Drug Law Enforcement Agency (NDLEA) has recovered hard drugs worth N4.8 billion from a warehouse in Lagos. Its spokesman, Mr Femi Babafemi stated on Sunday in Abuja that the warehouse is tucked in the popular International Trade Fair Complex, Alaba, Ojo area of Lagos. […]

Dangote Cement Reclaims Position, Market Value Hits N6trn Dangote Cement Plc has returned to the top of the chart as the most valued brand among companies listed on the Nigerian Exchange (NGX) after a successful share buyback programme. It was sold at N360 per share last week, and its market valuation was N6.134 trillion spread […]

As fuel prices continue to surge since May 2023, a noticeable change is sweeping across the traditional scene of car owners leisurely driving with air conditioners running. The prevalent sight now showcases car owners accommodating multiple passengers, with windows rolled down for ventilation. Economy & Lifestyle delves into this evolving trend, uncovering a pattern where […]

According to data obtained from the Nigerian Midstream and Downstream Petroleum Regulatory Authority (NMDPRA), there has been a notable decrease in the average daily consumption of Premium Motor Spirit (PMS), commonly known as fuel, within the country. The consumption figures for July showed a decline to 52 million liters, in contrast to the previous national […]

As Nigerians await the verdicts of the various election petition tribunals across the federation, some concerned citizens have concluded plans for a one-million-man march across some cities in the country on the need for judges handling election cases to be above board. The One-Million-Man-March, with its motto as ‘let us take naija back’, will hold […]