The proximity of Northern Cross River state to the North-central and North-east zones of Nigeria cannot be underscored. It is a geographical reality that Cross River state has to take advantage of to enhance the socio-economic development of these zones in particular and the country in general. The North-central state of Benue shares a boundary with Obudu, Cross River state, Read More
The Nigerian economy will slump further in 2023 due to activities leading to the general elections. According to a Fitch Solutions Country Risk & Industry Research report, the economy would pick up in 2024, with growth predicted to rise to 3.3 per cent. Fitch Solutions estimates that economic growth in Nigeria slipped to a six-quarter low of 2.3 per cent Read More
Local equities on Wednesday sustained growth profile, gaining N32 billion as sell off recorded in shares of Geregu, FBNHoldings, United Bank for Africa, Zenith Bank and others boosted activities in the market. Market capitalisation of listed equities increased by 0.12 per cent to N26.376 trillion from N26.344 trillion reported the previous day. The NGX All Share Index also appreciated by 59.80 basis Read More
Transactions on the floor of Nigerian Exchange (NGX) on Monday closed in a positive note, gaining N93 billion as gains in shares of Nigerian Breweries, Cadbury lifted activities in the market. Market capitalisation of listed equities increased by N93 billion or 0.38 per cent to N24.326 trillion from N24.233 trillion reported the previous day. The NGX All Share Index also Read More
Volume of transactions on the floor of Nigerian Exchange on Monday declined by 85.37 per cent. The volume of activities went down by 602.654 million as Investors traded 103.266 million shares valued at N2.138 billion in 3206 deals against 705.92 million shares valued at N4.59 billion exchanged hands the previous day in 3472 deals. Market capitalisation of listed equities increased Read More
The Minister of Finance, Budget and National Planning, Mrs. Zainab Ahmed, has described the Nigeria Sovereign Investment Authority (NSIA) partner of choice for the federal government of Nigeria in the execution and successful delivery of major infrastructure projects and transformational initiatives. A press statement by Special Adviser, Media & Communications to the minister, minister, Yunusa Tanko Abdullahi, said the minister Read More
The Securities and Exchange Commission has said that it is ready to collaborate with relevant stakeholders in its drive to ensure that illegal fund managers are not allowed to thrive in the country. Deputy Director and Head External Relations Department of the SEC, Mr. Mohammed Bagudu Waziri stated this during a meeting with Crime Reporters Association of Nigeria in Lagos, Read More
The Federal Executive Council (FEC) Wednesday approved the National Sports Industry Policy (NSIP) 2022-2026 that would transform sports into a revenue-generating sector. Minister of Sports and Youth Development, Mr Sunday Dare, disclosed this while State House correspondents at the end of the weekly FEC meeting chaired by Vice President Yemi Osinbajo. He said with the approval, sports in the country Read More
Amid rising urgency for instruments to de-risk investment across Africa, the Africa Co-Guarantee Platform’s (CGP) six partners have affirmed commitments to better leverage guarantee and insurance products, resulting in more trade and investment across Africa. The partners pledged to extend direct transaction support for specific projects, including infrastructure development and optimizing balance sheets by sharing risk. They will develop new Read More
Citibank, Standard Chartered, and Stanbic IBTC led the list of banks with the highest dollar inflows into the Nigerian economy in the first half of the year, statistics released by the National Bureau of Statistics (NBS) has revealed. Citibank attracted $889.9 million into the Nigerian economy in the first half of 2022, accounting for 28.6 per cent of the total Read More
Despite good performance reported by quoted companies in the Nigerian Exchange, uncertainty in the global economy, low purchasing power, insecurity have continued to impact negatively on the stock market as investors lose N283 billion in the month of August. The NGX trading result for the month of August showed that the market capitalization of listed equities which opened at N27.163 Read More
A former board member of Eleganza Industries and philanthropist, Hajia Maimunat Olubando-Okoya, has said Nigerian youths are the future of the country hence the need to invest properly in their future. Olubando-Okoya, who is the founder of Alrasheed Almajeri Foundation that caters for the less privileged in partnership with other Non-Governmental Organisations (NGOs) disclosed this recently in an interview. She Read More
The Chief Executive Officer, Nigerian Exchange Group Plc, Mr. Oscar N. Onyema has called for more investments in Africa’s marketplace as it’s growth market for businesses is highly underestimated. Onyema made this call while delivering a speech at the African Risk and Compliance Summit held in London. Speaking at the summit, Onyema noted that Africa’s potential as a growth market Read More
The federal government will welcome more public private investments in infrastructure development, an official of the Federal Ministry of Works and Housing (FMWH), Engr. Folorunsho Esan, has said. Esan, who is the Director, Highway Construction and Rehabilitation in the ministry, spoke over the weekend in Kaduna during a two-day inspection of rehabilitation of 64.600 kilometre Zaria-Gusau-Sokoto-Birnin-Kebbi road, Funtua-Zaria Section. According Read More
The federal government has increased borrowing from local investors by 21 per cent in the first half of2022 to N4.2 trillion from the N3.89 trillion it borrowed in the previous quarter. Te implication is that the Federal Government spends N1.4 trillion of money borrowed from private investors. This is outside other money from other sources it spends. Investors are comfortable Read More
The Chief Executive Officer of Naskaxe, an investment consultant, Mr Fazazee Nasiru, has disclosed that he is set to provide houses for poor and low-income earners in Nigeria. Nasiru, who spoke in Abuja recently explained that the aim of his gesture is to address the housing deficit challenges across the country. He said the company has already unveiled its brand Read More
Royal Dutch/Shell Group is planning new investments in deep water frontier in a bod to enhance deep water operations in the country. In a media chat in Lagos, Igo Weli, country head corporate relations and director, Shell Petroleum Development Company, SPDC, said despite global concern and western nation’s incertitude to fund fossil fuel development, the oil giant is creating new Read More
The Nigerian Investment Promotion Commission ( NIPC) has revealed that the 2021 Investments Announcement Report indicated that US$23.30 billion was tracked during the year, representing about 39% more than the value tracked in 2020 (US$16.74 billion). The NIPC Acting Executive Secretary, Emeka Ofor, revealed this during the 2022 NIPC media parley in Abuja said the increase in value is indicative Read More
A social political organization, Northern Youth Council of Nigeria, has warned those behind the crisis rocking the All Progressives Congress (APC) in Kano State to desist from inflaming the crisis and ensure that no harm befalls the due of Senator Jibrin Barau and former Kano state Governor Malam Ibrahim Shekarau, their associates and all their investments within the State. The Read More
Three things came to the front burner in a discourse on animal production as far as food security is concerned in the country. It was revealed that poultry farmers have the capacity and capability to produce enough eggs to feed the nation, secondly, turkey rearing or investment in turkey farming is quite capital intensive, but the effort would be worth Read More
The National Youth Council of Nigeria (NYCN) has commended the National Youth Service Corp members that served as adhoc electoral officials and security agencies in the Anambra governorship election held on Saturday, November 6, 2021 for the role they have played in strengthening democracy in Nigeria. Vice President of the organisation, Amb. Comrade Akoshile Mukhtar, who gave this commendation Sunday Read More
Governors, traditional rulers, business and political elites in the Yorubaland must carefully weigh various options and seriously consider backing Vice President Yemi Osinbajo in 2023, an All Progressives Congress youth group has advocated. According to members of the South West Movement for Osinbajo (SOWEMOVE) who presented a report and copies of correspondence with several Obas and other eminent personalities in Read More
A political pressure group known as the South-west Frontiers has condemned the prolonged silence of the former Lagos state governor and leader of the All Progressives Congress (APC) Asiwaju Bola Tinubu on the invasion of the residence of a Supreme Court judge, Justice Mary Odili by armed security operatives. The group similarly faulted the APC leader’s inaction about the recent Read More
Barely 24 hours to the Saturday Anambra State governorship election, the Inspector General of Police has removed the Deputy Inspector General, DIG Joseph Egbunike, as the head of security team for the Anambra governorship election slated for Saturday November 6, 2021. His removal was announced by the Police Public Relations Officer DSP Nkeiruka Nwude with few hours to the election. He been Read More
The Governor of Nasarawa state , Abdullahi Sule , has promised to build an overhead pedestal bridge and a library for the students of Government Secondary school Tudun wada in Karu local government Nasarawa state. Governor Sule stated this while on a condolence visit to the students and parents who lost their love ones some weeks ago, while crossing the Read More
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