Nigerian stocks dip 0.62% on sustained sell pressure in bellwethers

Stocks, bellwethers

Nigerian stocks closed negative Wednesday as sustained sell pressure in bellwethers continued for the 8th consecutive trading session. The benchmark index, the NSEASI, fell 62bps to 35,074.82 points while year-to-date (YTD) return contracted further to -8.3 percent. As a result, market capitalization decreased further by N77.9 billion to N12.8 trillion. The day’s bearish performance was […]

BoI steps in with N400m quarterly finance to aid Nigeria’s Aba leather products manufacturers

BoI

The Bank of Industry (BoI) has introduced a non-collateral loan scheme and a capacity building framework designed specifically to eliminate the challenge of financing faced by the Leather Products Manufacturers Association of Abia State (LEPMAAS). In partnership with Fidelity Bank, the BoI will disburse about N400m quarterly to 300 new target beneficiaries and facilitate trainings […]

Seplat, NNPC sign pacts to expedite ANOH gas project

Seplat

Nigerian National Petroleum Corporation (NNPC) and Seplat Petroleum Development Company (SPDC) have signed five agreements to accelerate the development of the Assa North and Ohaji South (ANOH) gas field in Imo State. The ANOH gas development scheme, which is aimed at producing around 3.4 billion standard cubic feet of gas per day by 2020, is […]

Oil edges up on Saudi output cut and Iran sanctions

Saudi

Oil prices rose on Tuesday after Saudi Arabia said it had cut production in July, though concerns over a slowdown in global economic growth kept a lid on markets. Benchmark Brent crude oil LCOc1 was up 50 cents at $73.11 a barrel by 0855 GMT. U.S. light crude CLc1 gained 55 cents to $67.75. Saudi […]

Bears maintain grip on Nigerian stocks as benchmark index dips 0.13%

Stocks, bellwethers

The bears at the Nigerian equities market maintained a firm grip in Monday’s trading session as benchmark index, the NSEASI declined 13bps to settle at 35,399.28 points while year-to-date (YTD) loss further dipped to -7.4 percent. As a result, market capitalization lost N17.0 billion in value to close at N12.9 trillion. The day’s negative performance […]