Truth Is Treasure
By Mathew Dadiya, Abuja Stock Trading activities in Africa’s largest economy closed Thursday’s transaction in red as the benchmark performance indicator decreased by -0.07percent, dipping by N8billion. The market this week has decreased by 0.23percent, which moderated the month-to-date gain to +0.81percent. The market’s negative return year to date has increased to -4.88percent. Market
Read More
From Joy Okeke, Lagos Electricity generation companies in Nigera sold electricity worth N294.16bn in the first five months of this year to the Nigeria Bulk Electricity Trading Plc. The government-owned NBET buys electricity in bulk from Gencos through Power Purchase Agreements and sells through vesting contracts to the distribution companies, which then
Read More
By By Mathew Dadiya, Abuja The Managing Director of the Nigerian Railway Corporation (NRC) Fidet Okhiria has explained that alleged attack on Abuja -Kaduna train was a reaction against arrest of a suspect by the police. The hoodlums threw stones at the train because the police got one suspect,
Read More
By Mathew Dadiya, Abuja Transaction activities on the floor of the Nigerian Stock Exchange NSE Tuesday closed in bearish, shedding N4 billion. Market capitalisation of listed equities declines by 0.03 per cent to N13.354 trillion from N13.358 trillion reported on Monday. The NSE All Share Index also fell by 7.63 basis points to
Read More
By Tony Obiechina, Abuja Economic expert and Capital Market Professor, Uche Uwaleke has said that the uptick in Nigeria's inflation rate was expected and would remain so until the harvest season. Nigeria’s inflation recorded its highest increase this year, rising to 13.22 per cent in August, the National Bureau of Statistics has
Read More
By Mathew Dadiya, Abuja Nigerian stock market ended last week trading in a bearish trend with investors losing N7.1 billion as market capitalization fell to N13.4 trillion while Year-to-Date (YTD) loss worsened to -4.7 per cent.The loses were driven particularly by sell-offs in Zenith Bank, Seplat and Dangote Sugar. Activity level waned
Read More
From Joy Okeke, Lagos Data from the National Bureau of Statistics (NBS) has shown that Nigerian banks laid off 2,477 of their employees in the second quarter of 2020 due to economic disruption by the Covid-19. The banking sector reduced its total headcount to 94, 498 as of June 2020
Read More
By Mathew Dadiya, Abuja The Nigerian banking sector has recorded a 14 per cent rise in Non-Performing Loans (NPLs) in the first half of 2020 ending a two-year consecutive decline in NPLs, since third quarter 2018. The National Bureau of Statistics (NBS), in its latest report on the banking sector, noted that non-performing loans
Read More
By Mathew Dadiya, Abuja The Nigerian National Petroleum Corporation (NNPC) has disclosed that it will soon begin activation of Compressed Natural Gas (CNG) refill stations for motorists across the country. The corporation disclosed this in a statement by the Group General Manager Public Affairs Division, Dr Kennie Obateru, in Abuja, yesterday. The CNG
Read More
By Jude Opara, Abuja The federal government has continued to explain why it decided to fully remove subsidy from petrol, assuring that the country will earn about ₦1 trillion annually, which would be channelled to fund other critical components of the nation’s economy. Minister of state for Petroleum Resources, Chief Timipre
Read More