NGX All-Share Index sheds 0.09% 

Business a.m The Nigerian Stock Exchange (NSE) All-Share Index (ASI) saw a slight dip on Monday, reversing the upward trend from the previous session, as the index fell by 0.09 per cent to close at 101,995.21 points.   The sell-off in the shares of United Bank for Africa Plc (UBA), Access Corporation Plc (ACCESSCORP), and […]

FAAC allocation rises 2.47% in January as federal govt,subnationals receive N1.149trn

Business a.m The Federation Account Allocation Committee (FAAC) released a total of N1,149.816 trillion  among the 774 local governments, 36 state governments, and the federal government for January 2024,representing a 2.47 per cent increase from the N1,127.408 trillion distributed in December 2023.  The February 2024 meeting of the Federation Accounts Allocation Committee (FAAC) was held […]

NGX falls 0.12% as ASI sheds points on subdued trading activity

NGX extends bullish run with N53bn market capitalisation

Business a.m The Nigerian equities market saw a slight decline on Thursday, reversing some of the gains seen in the previous session. The benchmark index, the Nigerian Stock Exchange All-Share Index (NGX ASI), fell by 0.12 per cent to close at 101,239.10 points.  The sell-offs in UBA (-0.42%), ACCESSCORP (-2.55%), and STANBIC (-8.33%) offset investor […]

Nigeria fails to impress on customer service, survey reveals

Business a.m The results of the 2023 Nigeria Customer Service Index (NCSI) findings  were not promising for Nigeria, as Africa’s biggest economy scored 61.8 per cent out of 100 in terms of customer service satisfaction, a low score that signifies a lot of room for improvement.  The first-ever Nigeria Customer Service Index (NCSI) report was […]

Nigeria’s money supply hikes to all-time high of N93.72trn in January 

Business a.m The latest figures from the Central Bank of Nigeria (CBN) has indicated that the country’s broad money supply has reached a historic high of N93.72 trillion as of January 2024. This represents a significant increase of N40.48 trillion, or 76 per cent, from the figure of N53.14 trillion recorded in January 2023.  A […]

NCC warns telecom operators of risks ahead of 6G rollout

NCC returns to TV with weekly programme

Business a.m As technology evolves from 5G to 6G and beyond, the Nigerian Communications Commission (NCC) has warned telecommunications operators in Nigeria to prepare for increased risks and challenges.  Aminu Maida,the NCC’s executive vice chairman, issued the warning at a two-day telecoms industry risk management conference in Lagos, themed “Evolution and Future Risk Management in […]

Heirs Holding chairman,Elumelu urges MOFI on long-term vision, value creation to support economic development

Onome Amuge Tony Elumelu, the chairman of Heirs Holdings has advised the Ministry of Finance Incorporated (MOFI) on the importance of  long-term thinking and value creation to position MOFI as the strategic institution that will support the Federal Government’s efforts to address economic challenges and drive growth in the Nigerian economy. In addition to long-term […]

Nigeria’s economic woes tighten as cement prices shoot above rooftops

Dangote Cement offers N5m star-prize winners chance to become cement distributors

Analysts say: Reduce inflation  Stabilise exchange rate  Improve liquidity in foreign exchange market Lower energy costs are critical steps needed ONOME AMUGE  The  skyrocketing prices of cement in Nigeria has left consumers, especially those in the construction and building industries, reeling from the impact. What was once a commodity priced at N2,000 per 50kg bag […]

Scarcity looms as NARTO directs tanker drivers to halt petrol transportation

Business a.m   Nigeria is facing the threat of a looming fuel shortage as the Nigerian Association of Road Transport Owners (NARTO) has issued a directive to its members to suspend the loading of petroleum products as of Monday, February 19, 2024.    NARTO’s decision to withdraw its petroleum trucks from loading activities is a […]