Investors maintain profit taking appetite as losses persist on Nigeria bourse
Adesola Afolabi
3 hrs
The bearish run on the Nigeria’s equities market continued for the fourth consecutive session on Wednesday as the benchmark index dipped, by 0.15 percent to 38,605.07 points, amidst continued profit taking. The Month-to-Date and Year-to-Date returns consequently moderated to 1.31 percent and 0.95 percent respectively. Trading activities showed the day’s top sectoral loser was the […]
Nigeria’s total debt rises marginally to N22.7trn ($74.3bn) in Q1 ’18, says debt office, DMO
Adesola Afolabi4 hrs
Nigeria’s total debt rose marginally by 4.5 percent to N22.7 trillion or N74.28 billion in the first quarter of 2018, the country’s debt management office (DMO), said in a total debt profile it released Wednesday. The percentage increase was in comparison with the total debt profile recorded as at the end of December 2017. The […]
Global aluminium market suffers 91 kilo tonnes shortfall in first four months of 2018
Temitayo Ayetoto5 hrs
Global primary aluminium market suffered a slight deficit of 91 kilo tonnes between January and April, a modest loss compared to the 1022 kilo tonnes deficit recorded in 2017, the latest data released by the World Bureau of Metal Statistics (WBMS) has shown. The demand for primary aluminium for the months under review was 19.77 […]
Nigerian stakeholders in agriculture back government plan to shut border against smugglers
Temitayo Ayetoto5 hrs
Some stakeholders in agriculture have lent their support to the renewed commitment of the Nigerian government to shut border with a yet-to-be identified neighbouring country to address smuggling activities, according to monitored reports. Aminu Goronyo, president of Rice Farmers Association of Nigeria (RIFAN), responding to the plan announced by agriculture minister, Audu Ogbeh, said it […]
BREAKING! President Buhari finally signs Nigeria’s 2018 budget
Bukola Odufade9 hrs
Muhammadu Buhari, Nigeria’s president on Wednesday signed the 2018 appropriation bill into law. This comes after Nigerian senate sent the bill in May, over 6 weeks ago. The president, however, expressed concern over changes the Nigerian senate made to the budget on three issues, namely projects to be undertaken, compensation related issues and statutory transfers. […]
Angela Merkel’s Conservatives block warn euro zone budget could split EU
Anthony Ogbo11 hrs
German Chancellor Angela Merkel’s conservative bloc on Wednesday reacted with scepticism to her agreement with French President Emmanuel Macron to create a common budget for the currency bloc, Reuters reported. Merkel and Macron hailed a “new chapter” for the euro zone after talks at the Meseberg retreat outside Berlin on Tuesday where they hailed the […]
Saudi Arabia struggles to convince OPEC members, Gulf allies to raise oil output
Businessam Staff15 hrs
Saudi Arabia is finding it difficult to convince fellow OPEC members and Gulf allies on the need to raise oil output, sources said on Wednesday, adding to complications ahead of an OPEC meeting this week, Reuters reports. The Organization of the Petroleum Exporting Countries meets on Friday to decide on output policy amid calls from […]
Exxon, Eni Exploration Contracts close to being finalized, says Mozambique oil and gas regulator
Businessam Staff16 hrs
Mozambique’s oil and gas regulator said exploration contracts for the nation’s fifth licensing round in 2015, which awarded blocks to companies including Exxon Mobil Corp. and Eni SpA, are close to being finalized according to Bloomberg. Winners of the bidding round have awaited legislation and a new model for exploration and production concession contracts, which […]
UK Beer sales could go down due to CO2 shortage
Businessam StaffJune 19, 2018
A shortage of CO2 could take the fizz out of beer and other sparkling drinks this summer, just as the World Cup and barbecue season get under way, BBC has reported. The UK has only two plants producing carbon dioxide and one is closed for maintenance, threatening to leave drinks makers high and dry. “It’s […]
Nigeria government released N1.580trn capital votes to MDAs in fiscal 2017
Businessam StaffJune 19, 2018
Nigeria’s federal government Tuesday announced that a total of N1.580 trillion capital cost was released to ministries, departments and agencies from the 2017 federal budget. Kemi Adeosun, the minister of finance, who disclosed this in Abuja, said the N1.580 trillion capital releases for 2017 is remarkably higher than the N1.219 capital releases for 2016. A […]