Bargain hunters feast on Airtel, MTN, Lafarge as Nigeria bourse swings higher
Charles Abuede
6 hrs

By Charles Abuede Market analysts anticipate the trend to linger through the week, outweighing the trickles of selloffs Nigeria’s equities market’s performance was majorly driven Tuesday by unrelenting bargain hunting activities across top stocks with sound fundamentals as the benchmark index rose 1.21 per cent to close at 41,584.94 points, following strong […]
SDG: Covid-19 magnifies financing gap in developing countries by 70%, says OECD
Ben Eguzozie
7 hrs

Citizens don’t benefit from social safety net Providing access to clean energy crucial for post-pandemic recovery Africa’s infrastructure financing gap to hit $170bn in 2025 – AfDB The absence of carefully crafted pandemic policy responses such as COVID-19 by governments of developing countries could reverse decades of progress in sustainable development and the […]
CBN’s MPC keeps MPR at 11.50% in line with analysts’ expectations
harles Abuede
8 hrs

By Charles Abuede Says aggressive policy stance will worsen inflation in the economy The 277th meeting of the CBN’s Monetary Policy Committee (MPC) held on Tuesday in Abuja in the light of lingering uncertainties associated with the COVID-19 pandemic, economic recession, saw the committee retain the policy rate at 11.50 per cent for […]
Lagos opens gateway to 1000 potential youth entrepreneurs with coconut-based art and craft training
Onome Amuge
8 hrs

By Onome Amuge The Lagos State government, on Monday, flagged off the coconut shell art and craft training of not less than 1000 youths and women at the Farm Service Centre, Agege, Lagos themed under the “waste to wealth” programme being facilitated by the Lagos State Coconut Development Authority (LASCODA). Abisola Olusanya, the Lagos […]
Africa startups received $2.44bn investment with marginal drop in 2020
Ben Eguzozie
19 hrs

Fintech most funded sector at 33%; cleantech, 22% Investment report says 1,075 deals recorded against 1119 in 2019 Nigeria’s Paystack’s $200m among high-profile acquisitions Tech startups in Africa received continuous flow of investment in 2020, despite grave fears that pressures from the Covid-19 pandemic would ravage the continent’s sector investment, states […]
Analysts downplay rates tweak as CBN’s MPC meets
Charles Abuede
January 25, 2021

By Charles Abuede With inflation knee on its neck, MPC can’t breathe a rates cut Apex bank caught between pandemic and spiralling inflation, despite recession The Monetary Policy Committee (MPC) of the Central Bank of Nigeria (CBN) will hold its first meeting for 2021 on Monday and Tuesday, during which it is expected […]
Appeal Court suspends order against shutting of SEPLAT headoffice
Ben Eguzozie
January 23, 2021

Seplat Petroleum company has announced that the Court of Appeal sitting in Lagos on Friday suspended the order of interlocutory injunctions made by the Lagos Federal High Court that led to the sealing of the oil company’s corporate head office situated in a building located at 16A Temple Road, Ikoyi, Lagos, a building which is […]
Eko Atlantic City to utilise local content for economic diversification in Nigeria
Zainab Iwayemi
January 23, 2021

By Zainab Iwayemi As part of its effort to promote local content and enhance economic growth, Eko Atlantic, a 10 million square metres land reclaimed from the ocean and protected by an 8.5-kilometre long sea wall will source the raw materials and workforce used to reclaim, protect and develop the region, locally. David Frame, […]
Africa’s $60bn losses in illicit capital flows due to multinationals’ tax avoidance, says AfDB Adesina
Charles Abuede
January 22, 2021

By Charles Abuede Says 86 of Nigeria’s SMEs spend a whopping $14bn annually on diesel for generators Nigerian companies lose an average 10% of their sales due to inaccessible, unaffordable and reliable electricity The president of the African Development Bank (AfDB), Akinwumi Adesina, has stated that profit shifting, base erosion and tax avoidance by […]
Nigeria equities go bearish on selloffs in DangCem, AXA Mansard, UBA
Charles Abuede
January 21, 2021

By Charles Abuede The Nigerian equities market went bearish at the close of trading on Thursday losing 0.12 per cent to close at 41,099.15 points, something some market analysts believe to be indicative of a temporary correction from the bullish trend experienced following the release of inflation figures that printed 15.75 per cent in […]