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The Nigerian Stock Exchange continued its losing streak, as the All Share Index (ASI) shed 4.10% in today’s trading to close at 22,550.83. The 4.10% drop in the ASI index translates to over N300 billion lost in trading today alone. Here is a snapshot of the day’s trading; ASI: 22,550.83 DEALS: 3,248.00 VOLUME: 196,258,099.00 VALUE: […]Read More

WhatsApp founder, Jan Koum has announced that the company is dropping the service’s annual subscription fee in an effort to remove the barriers some users faced in using the service. ” Koum said Monday, speaking at the DLD conference in Munich. He noted that while a buck a year might not sound like much, access […]

Arab Billionaire, Sheikh Abdullah Ahmed Al Ghurair, has indicated interest to invest in major sectors of Nigeria’s economy.This ofcourse is a booster for Nigeria’s direct foreign investment, Daily Trust reports.Director, Nigerian Trade Centre, Dubai, UAE, Mohammed Aliyu Baiwa, told newsmen that “Al Ghurair, who is the chairman of Al Ghurair Investment,has expressed confidence in the […]Read More

India says it has doubled its annual oil purchase deal with Nigeria for 2015/16 to 60,000 bpd. Chairman of Indian Oil Corporation, B. Ashok made this statement recently, Reuters reports.This also comes as Indian refiners boosted imports of African crude oil in 2015 to the highest in at least five years and slightly cut their […]

Professor Charles Soludo is in the news again and this time he has gone after the ex President Goodluck Jonathan. Here is an excerpt of what he just said about the immediate past president. Imagine a scenario where a president can order the CBN to create an intervention fund for national stability and CBN literally […]

1.Brent Crude Is Still Diving:After hitting a 12 year low last week at $27.67 a barrel, Brent Crude is showing no signs of recovering this week. 2.Royal Dutch Shell Boss Says, Bretix Will Not Favour The Company:The chief executive of Royal Dutch Shell one of the world’s biggest firms, believes that it might be disastrous […]Read More

Pix: From Bloomberg FCMB Group has issued it’s long awaited profit warning advising investors that earnings will be materially bad.  Here is an excerpt of the statement with focus on the words of the group CEO. According to Peter Obaseki, the Managing Director of FCMB Group Plc, “3Q15 earnings as at September 2015, will be […]

Investors are not letting up the Nigerian stock market as the sell off has now continued from where it stopped. The index has now broken the N8tr support and is currently at N7.9tr with over N100b lost already. Investors are apparently reacting to the twin news of Iran coming on stream as well as its […]

Africa’s richest man, Aliko Dangote wants to revolutionize tomato production in Nigeria, with a giant factory that will boost domestic output, create jobs, and even, indirectly, fight insurgency in Northern Nigeria. Dangote Group have been working for five years to build a $20-million tomato processing plant outside the northern city of Kano, which has been […]

The Chairman of NATCOM, Mr. Olatunde Ayeni, has revealed that a total of about $1 billion has been spent on the revival of Nigerian Telecommunication Limited (NITEL) and its sister company, Mobile Telecommunication Limited (Mtel), which were recently acquired by NATCOM Development and Investment Limited from the Nigeria Telecommunications Limited (NITEL). Mr. Olatunde made this […]

Reports in the international media confirm Brent crude fell to $27.67 a barrel early on Monday, its lowest since 2003, before recovering to $28.56 by 0208 GMT. Asian markets are already open due to time difference. The sharp drop in price is seen as a reaction to the lifting if sanctions on Iran who are […]

If there are any hopes that the president could be mulling postponing his promise of social welfare programmes then that hope must surely be dashed. Premium Times is reporting that plans are already on the way to launch one of Buhari’s social programmes involving a credit facility of N60,000 to 1 million artisans. According to […]