Bears set to play in FI markets in absence of major catalysts
Charles AbuedeMay 10, 2022
BY CHARLES ABUEDE The naira is not showing any sign of recovery and it seems bent on seeing the bottom of the valley in the street where many believe its real value is properly weighed up and measured. In the streets of Lagos and Port Harcourt that we sampled for how much naira you need […]
Nigeria, Morocco rekindle offshore gas pipeline dream
Maduabuchi EfegadiMay 10, 2022
BY MADUABUCHI EFEGADI Nigeria and Morocco appear set to finally begin developing a 7,000 km long offshore gas pipeline that would carry gas from the gas-awash West African nation to the North African economic giant with a GDP of over $119.04 billion. The project, which cost was not immediately disclosed, but Tolu Ogunlesi, a media […]
ABCHealth, UNAIDS sign MoU to improve access to health across Africa
Charles AbuedeMay 9, 2022
BY CHARLES ABUEDE The African Business Coalition for Health (ABCHealth), has entered into a strategic partnership with the Joint United Nations Programme on HIV/AIDS (UNAIDS) with the signing of a Memorandum of Understanding (MoU) to partner on joint initiatives that will improve access to quality healthcare across Africa. The partnership will develop and deploy impactful […]
NGX in broad gains as market cap tops N27.5trn after Ramadan
Charles AbuedeMay 8, 2022
BY CHARLES ABUEDE Investors returned to the Nigerian equities market last week after a two-day Ramadan holiday and hit the bullseye right away as the Nigerian Exchange (NGX), for the first time in 14 years, saw its all-share index hit the 50,000 psychological points, riding to a high of 51,000 with total market cap of […]
Nigerian airlines to withdraw flight services May 9 over high fuel costs
Sade WilliamsMay 6, 2022
By Sade Williams Nigerian domestic airlines are all set to withdraw flight services across the country from Monday 9th of May over what Airline Operators of Nigeria (AON), the umbrella organisation for the airlines, described as the astronomical increase in fuel price. AON said the nationwide withdrawal of services would be indefinite and be in […]
Rivers hails Supreme Court ruling in oil dispute with Imo
Maduabuchi EfegadiMay 6, 2022
By Maduabuchi Efegadi Rivers, the hydrocarbon-rich Nigerian sub-national, appears quite pleased with the Friday 5 May judgement of the nation’s Supreme Court, which gave it the 17 oil wells which were in ownership dispute with the neighbouring Imo State. The oil wells are located in Akiri and Mbede, all border communities with the sister state. […]
Supreme Court rules for Rivers in dispute with Imo over 17 oil wells
Dikachi ElembaMay 6, 2022
Dikachi Elemba Oil rich subnationa Rivers State on Friday got judgement in its favour over a much contested 17 oil wells which it had been in a long battle with Imo State. Justices of the Supreme Court who ruled for Rivers State also brought to an end a political understanding that had seen the two […]
AFEX emerges Financial Times top commodities firm in Africa
Onome AmugeMay 3, 2022
BY ONOME AMUGE AFEX, Nigeria’s leading commodities market player, has emerged as Africa’s fastest growing agriculture and commodities company as well as the third fastest growing company in the continent in the Financial Times (FT) 2022 ranking of Africa’s best performing companies. The Financial Times first-ever Africa annual ranking, was organised in collaboration with Statista, […]
GMO-linked Bt cowpea stirs up storm in Nigeria’s agric community
Onome AmugeMay 3, 2022
BY ONOME AMUGE Cowpea, an annual herbaceous legume popularly called ‘beans’ in Nigeria, is a crop renowned for its high drought tolerance and ability to germinate easily even under poor soil conditions, making it highly adaptable to the semi-arid regions of Africa and Asia. The growing consumer demand for plant protein, increase in consumer awareness […]
Quiet trading across T-bills, bonds, OMO seen after week of mixed outing
Charles AbuedeMay 3, 2022
BY CHARLES ABUEDE Last week saw a mixed outing in the fixed income market as investors began acting to guidance on future rate movements, from the week’s auctions across the bonds and T-bills segments. Consequently, the yield on benchmark bonds advanced and was driven by sell-side action at the short-end of the market and, outstandingly, […]