Nigeria equities’ turnover rises 121%, grosses N1.3trn in 2017

Andy NssienJanuary 16, 2018

Oscar Onyema, the chief executive officer of the NSE,

Nigerian equities’ turnover rose sporadically in 2017 by 121 percent from N0.58 trillion to gross N1.3 trillion, according to the Nigerian Stock Exchange (NSE). Oscar Onyema, the chief executive officer of the NSE, who briefed stockbroking community, analysts, media and other stakeholders Tuesday, attributed the turnover growth partly to the Central Bank of Nigeria (CBN’s) […]

Nigeria inflation rate moderates to 15.37% year-on-year despite energy price pressure

Businessam StaffJanuary 16, 2018

Nigeria’s statistical authority, the National Bureau of Statistics (NBS), Tuesday said inflation rate for the month of December moderated further to 15.37 percent, representing an 11th consecutive monthly decline year-on-year. The report, specifically indicated that headline inflation moderated 53 basis points (bps) from 15.9 percent in November 2017 to a 20-month low of 15.37 percent […]

Zenith, Guaranty Trust, Dangote Cement lead momentum as Nigerian stocks surge 0.51%

Businessam StaffJanuary 15, 2018

Nigerian Naira

The Nigerian equities market reversed Friday’s negative close to open the week 0.51 percent higher consequent on gains in DANGCEM (+1.2%), GUARANTY (+2.2%) and ZENITH (+2.4%). The day’s positive drive was equally driven by buy interest across small and mid-cap stocks. The bourse’s All Share Index therefore settled at 43,119.00 points while year-to-date (YTD) return […]

Nigeria bourse transaction value jumps 117% to N278.5bn month-on-month in November

Andy NssienJanuary 15, 2018

Nigerian Naira

Total value of transactions at the Nigerian Stock Exchange (NSE) shot up by 117.88 percent from N127.82 billion recorded in October 2017 to N278.49 billion (about $0.91 billion) in November. According to statistics from the NSE, foreign investors outperformed domestic investors by 7.8% as total foreign transactions increased significantly by 121.91% from N67.64 billion recorded […]

Lagos, world’s most populous city with 88m people by 2100, says GCI

Businessam StaffJanuary 15, 2018

Lagos, Nigeria’s melting pot for trade and commerce, as well as its financial nerve centre, will become the world’s most populous city at the turn of the century, in 2100, so says Global Cities Institute (GCI) in its latest research on cities of the world just released. Today, as you read this, Tokyo, the Japanese […]

Nigeria’s finance minister Adeosun bags UN’s appointment

Businessam StaffJanuary 14, 2018

The United Nations has appointed Nigeria’s Minister of Finance, Kemi Adeosun, into the Investments Committee of the United Nations Joint Staff Pension Fund (UNJSPF). The Under-Secretary-General of United Nations, Jan Beagle, who confirmed Adeosun’s appointment, disclosed that the minister would serve a one-year term of office effective from January 1, 2018. Beagle said, “On behalf […]

Nigeria capital market index records highest weekly gain in 20 months

Businessam StaffJanuary 12, 2018

Against the backdrop of rising oil prices and strong portfolio flows, the uptrend in market performance from the prior week was sustained this week as the Nigeria All Share Index (ASI) closed in the green on all trading sessions save for Friday. Thus, the ASI gained 10.2 percent week-on-week (W-o-W) to settle at 42,898.90 points […]

Nigeria’s December inflation figure to drop marginally at 15.85%, says FSDH

January 12, 2018

Nigeria’s year-on-year inflation rate is expected to drop to 15.85 percent in December 2017 from 15.90 percent recorded in the month of November, according to FSDH Research. The expected marginal decrease in the inflation rate in December, the eleventh consecutive month drop in rate for 2017, will be driven by the base effect, the research […]