The Nigerian Stock Exchange (NSE) expanded by N12.869 billion as the market resumed activities after a two-day holiday commemorating the Sallah festival. The Industrial Index was...
Air Peace provided reasons on Monday for laying off pilots and supporting staff. It said the devastating effects of COVID-19 pandemic on its operations were responsible...
South Africa retail supermarket, Shoprite, has debunk reports that it is winding down it’s investments in Nigeria, and leaving the country. High street retailer, Shoprite, has...
Oil prices slipped on Monday over fears pertaining to oversupply as the Organisation of the Petroleum Exporting Countries (OPEC) and its allies prepare to wind back...
Africa’s largest food retailer, Shoprite Holdings, Monday said it will be bringing down the curtain on its Nigerian operations 15 years after announcing its presence in the...
The Lagos Chamber of Commerce and Industry (LCCI) has decried the appointment of the Nigerian Postal Service (NIPOST) as the regulator of the courier market in...
Hello, and welcome to Business Roundup this week. Here, we bring you highlights of events that happened during the week -from the capital market, mainstream business activities...
Fewer trading sessions were conducted this week on the equity session of the Nigerian Stock Exchange (NSE) than the last due to a two-day break on...
Beer maker, Nigerian Breweries Plc, has reported a 58% contraction in its top line for the first of half of 2020 as turnover fell to N151.810 billion...
Oil prices jumped Friday, rebounding after striking 3-week lows on Thursday as a result of a historic slump in U.S. growth as the world’s biggest economy...
Businesses in Nigeria are nursing the hope that the economic conditions in Nigeria in the month ahead will better those of July even though this optimism...
Nigeria’s external reserves edged lower by $314.927 million from $36.214 billion on 28th June to $35.899 billion on 28th July 2020, equivalent to a 1% margin,...
Wireless operator, MTN Nigeria Communications Plc said it would pay shareholders an interim dividend of N3.50 per share subject to deduction of withholding tax following the...
MTN Nigeria Communications PLC, the Nigerian unit of Johannesburg-based multinational wireless operator MTN Group Limited, Wednesday declared it grew its half-year 2020 revenue by 12.5% to N638.075...
Nigeria’s Manufacturing Purchasing Managers’ Index (PMI), which measures the direction of trends and developments in the manufacturing industry, tightened for the third successive month at 44.9...
No documentation was endorsed between 2013 and 2015 showing Nigeria would be liable to pay $1.2 billion in case it breached the contract for the Azura-Edo...
Courier and logistics businesses in Nigeria are facing a double whammy of coronavirus crisis and license fee hike in a country with a bad name for difficulty...
The Nigerian government Wednesday granted ‘anticipatory approval’ of 18.94 million Euros (N8.648,081,465.2) as counterpart fund for a revamp contract that will enable Munich-based Siemens overhaul the country’s obsolescent...
The equity segment of the Nigerian Stock Exchange rallied on Wednesday as bank stocks dominated trade even though turnover, as it had been in recent time,...
Oil prices climbed up Wednesday following an abrupt fall in U.S. crude storage even though demand fears from unprecedented rises in coronavirus cases limited gains. Brent...
Banks in Nigeria face higher borrowing costs and a monumental threat to revenues as the Central Bank of Nigeria (CBN)’s policies to bolster the naira creates...
The World Bank Wednesday said it had consented to a $500 million credit at the behest of the International Development Association, which provides loans and grants...
The Federal Inland Revenue Service (FIRS) on Tuesday threw more light on the operation of the stamp duty on tenancy in the country. According to Muhammad...
State-owned Nigerian National Petroleum Corporation (NNPC) has signed a $1.5 billion oil prepayment pact midwifed by Standard Chartered and backed by oil traders, Matrix Energy and...
Profit-taking in heavyweight stocks ended Monday’s rebound of the equity market of the Nigerian Stock Exchange (NSE) on Tuesday, with Seplat, Total, MTNN, Julius Berger and...
The Independent Petroleum Marketers Association of Nigeria (IPMAN) has frowned at calls for the scrapping of Petroleum Equalisation Fund (PEF). The group said it would resist...
Oil prices were steady on Tuesday as optimism for further U.S. measures to bolster the economy tempered a demand outlook overshadowed by surge in coronavirus infections...
An independent panel led by one-time Irish president, May Robinson, has cleared the embattled African Development Bank (AfDB) chief, Akinwunmi Adesina of corruption. The AfDB head...
The Value Added Tax (VAT) amassed by the Nigerian government in the first half of 2020 totalled N651.77 billion, 8.5% higher than the figure for the...
Twenty-three per cent of banks’ loan portfolio might put the asset quality and future profitability of the sector in limbo, credit rating agency, Agusto & Co...
The non-performing loans portfolio of banks in Nigeria added up to N1.2 trillion at the end of June, figures obtained from the Central Bank of Nigeria...
The equity segment of the Nigerian Stock Exchange (NSE) rallied on Monday following a largely bearish market last week, with large-cap and mid-cap stocks like Dangote...
Oil prices fell on Monday as uptick in coronavirus infections and escalation of tensions between the United States and China drove investors to commit their capital...
Nigeria is set to commence large-scale exploitation of bitumen following the declaration on Sunday of the preparedness of indigenous firm, South West Bitumen Limited to commence...
Government’s expenditure on pension and gratuity settlement came to N292.38 billion last year, the Central Bank of Nigeria (CBN) has said. According to a report by...
The Nigerian equity market recorded depreciation four times in the week that just went by and appreciation once, with the developments in the market informing Ripples...
Nigerian states depend on the federal government for over 70 per cent of their survival, raising fears of their stand-alone potential without intervention from the centre,...
Hello, and welcome to Business Roundup this week. Here, we bring you highlights of events that happened during the week -from the capital market, mainstream business activities...
The Federal Inland Revenue Service (FIRS) on Saturday made clarifications on categories of stamp duties to be paid by tenants across the country. The Director of...
Dangote Cement Plc Friday announced its pre-tax profit for the first half of 2020 advanced to N126.143 billion, 5.8% higher than the N119.240 billion reported in...
The Minister of Communication and Digital Economy, Dr Isa Pantami has ordered the Nigeria Postal Services (NIPOST) to halt its implementation of an increase in licensing...
The NSE’s transaction size crossed the 1.350 billion shares mark this week on sustained upward momentum in activities in three fortnights of trade. Yet, market the...
Sell pressure on oil and gas and industrial stocks accounted most for the fall by N44 billion in the market value of the equities segment of...
Oil prices rose Friday on the back a weaker dollar although the aggravating feud between the world’s two most advanced economies, United States and China, hurt...
MTNN sees its profit margin dropping by nearly half a percentage point in 2020 as its tower services, which it leased from another company, reel from...
Naira inched higher against the United States dollar on Thursday at the over-the-counter spot market widely used by investors, closing at N388, 0.07% or 17 kobo...
Nigeria’s spending on chemicals from abroad came to $1.4 billion in 2019, the National Research Institute for Chemical Technology said Thursday. Jeffrey Barminas, Director General of...
The Nigerian government hopes to amass income of between N13 and N18 trillion through oil and non-oil means with a view to bolstering its revenue to...
Gains by MTNN and Dangote Cement, Nigeria’s biggest and second biggest companies by market value in that order, lifted the equity market section of the Nigerian...
Confectionery and beverage maker, Cadbury Nigeria Plc, said Thursday it saw a slump in revenue of N3.538 billion in the first half of 2020. The turnover,...
