BUA Cement eyes dual listing after 37.82% oversubscription of N100bn corporate bond
Charles Abuede
January 5, 2021
By Charles Abuede BUA Cement Plc has revealed that following the successful conclusion of its N100 billion bond offering during its Series-1 fixed-rate senior unsecured bond issue under the company’s maiden N200 billion bond issuance programme, an application to dual list the bonds on relevant exchanges would be made. The company said the dual […]
Road to economic recovery mixed for Nigeria in 2021
Charles AbuedeJanuary 4, 2021
By Charles Abuede Amidst ailing economic performance Inflation could climb to 16% in January Growth in non-oil sectors to improve from Q1’21, electricity tariff hike Projecting into what 2021 holds for Nigeria, analysts have suggested to Business A.M. that in the face of an ailing economy and ailing economic performance, the country […]
Wike unseals Shell’s operational base as NNPC GMD intervenes
Ben EguzozieJanuary 2, 2021
Out-of-court settlement of feud possible Kyari says negotiation continues Governor Nyesom Wike of oil-rich Rivers State, apparently bowing to pressure from oil industry major players, unsealed the Kidney Island operational base of Shell Petroleum Development Company (SPDC), a facility it sealed a week ago, in the guise of acting on a court judgement. The […]
Neymar, Alison, other Brazilian footballers see market value fall $66m to $456.5m in 2020
Charles AbuedeJanuary 1, 2021
By Charles Abuede The collective market value of Neymar, Allison, Roberto Firmino, Marquinhos, and Casemiro, the five most expensive Brazilian football players, hit $465.5 million in the fourth quarter of 2020, indicating a $66 million slump since the beginning of the year, recently reported data has shown. It is without a doubt that over […]
AfCFTA takes off with 33 countries ratifying trade bloc
Ben EguzozieJanuary 1, 2021
But AfCFTA secretariat says adoption to be slow as many nations lack border facilities for tariff-free trade Southern Africa’s $53bn export potential puts it in pole position Nigeria along with West Africa in distant 3rd with $9.5bn But Abuja Chamber of Commerce president says Nigeria to deepen its economic reach, depth The African […]
Nigeria’s N13.58trn 2021 budget starts January 1 as President Buhari signs bill
Charles AbuedeDecember 31, 2020
By Charles Abuede After decades of failing to get its yearly budget passed to begin implementation at the start of a new year, Nigeria’s federal government appears to be steadily getting into the flow as President Muhammadu Buhari on Thursday signed the 2021 Appropriation Bill that will allow government to spend N13.58 trillion in […]
Nigeria equities sustain uptrend on price upticks in BuaCem, FBNHoldings, InterBrew
Charles AbuedeDecember 31, 2020
By Charles Abuede Sustained buying pressures continued to drive the upbeat movement in the market as the year quickly draws to a close. The uptick witnessed in the volume of exchanged units may be closely linked to the first tranche of Dangote Cement’s share buy-back programme, which kicked off on Wednesday. To this end, […]
Afreximbank, Credit Suisse complete $1bn 3-year loan for Nigeria’s BoI
Chris IkosaDecember 31, 2020
Transaction follows Eur1bn previous facility Nigeria’s state-owned Bank of Industry (BoI), the country’s oldest development finance institution, has secured a $1 billion African Export-Import Bank (Afreximbank) and Credit Suisse loan facility which would enable BoI to provide much needed support to Nigerian businesses across key sectors. According to Afreximbank, the facility is […]
CBN forecasts rise in secured credit lending to households, small businesses, businesses in 2021
Charles AbuedeDecember 31, 2020
By Charles Abuede Lenders expect spread on bank lending rates and MPR on new loan applications to also expand in Q1 2021 The Central Bank of Nigeria (CBN) says it foresees an increase in secured credit to households in the first quarter of 2021 with changing economic outlook and increased market share objectives […]
Nigeria bourse executes $813.87m transactions in November despite weak foreign participation
Charles AbuedeDecember 31, 2020
By Charles Abuede Total transactions increased by 29.77% from $634.6m in October 2020 to$817.9m in November Domestic transactions on the local bourse rose to N1.24 trillion in 11 months. Despite weakened participation of foreigners in the capital market, a recent data from the Nigerian Stock Exchange (NSE) shows that as at the close of […]