Our role under current petrol pricing regime – PPPRA

June 28, 2020 Editorial IV 0

The Petroleum Products Pricing Regulatory Agency (PPPRA) says it is no longer fixing the pump price of Premium Motor Spirit (PMS) also known as petrol for marketers.  PPRA Executive Secretary, Mr Saidu Abdulkadir, stated this in a statement in Abuja, on Sunday. Abdulkadir, however, said the agency would constantly, on a monthly basis, develop a guiding price for the commodity, Read More

Dangote reports record cement sales in Nigeria

May 24, 2020 Blessing Anaro 0

Dangote Cement Plc, said first quarter revenue was boosted by a surge in sales from Nigeria, its home market. Revenue for the first quarter through March increased 3.8 per cent to N249.2 billion ($647 million) while net income was little-changed at N60.6 billion from N60.3 billion, it said in a statement to the Nigerian Stock Exchange. Sales from Nigeria rose Read More

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Stock market loses N425bn

March 11, 2020 Editorial III 0

Transactions on the floor of Nigerian Stock Exchange Wednesday sustained volatility as Nigerian Stock Exchange Composite All Share Index declined by 815.91 basis points. The NSE ASI also depreciated by 3.35 per cent  to 23572.75 points from 24388.66 points reported on Tuesday. Market Capitalisation of listed equities also declined  by N425 billion to N12.284 trillion from N12.709 trillion reported on Read More

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African capital market activity declines further in 2019

March 10, 2020 Editorial III 0

The general slowdown in equity markets was largely driven by a series of macroeconomic factors including an equity capital market (ECM) deceleration in global markets. DAVID AGBA reports with agencies. Overall, African equity capital market (ECM) activity in 2019 declined sharply both in volume and value from 2018, with 2019 posting the lowest proceeds raised in 10 years. The general Read More

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NCC frowns at influx of counterfeit phones, lists authentic brands

February 20, 2020 Editorial IV 0

The Nigerian Communications Commission (NCC), has urged Nigerians to desist from purchasing phones that have not been certified for the country’s market by the regulatory agency. While commenting on the rate at which unapproved phones are sold in the country, the Executive Vice Chairman, NCC, Prof Umar Danbatta frowned at the influx of counterfeit devices into the country, noting that Read More

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Samsung unveils Galaxy S20 phones

February 12, 2020 Editorial IV 0

Samsung has unveil its latest innovation into the mobile phone market with it’s Galaxy S20 ranges. Unveiling the newest tech devices at the Transcorp Hilton, Abuja, Tuesday the company said it would continue to set the pace in Mobile technology. Briefing journalists before the world event held at San Francisco and streamed live with the device, Samsung HOD information technology Read More

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MTN budgets $1.6bn 3 years investment in Nigeria

January 29, 2020 Editorial IV 0

MTN Group President/CEO, Mr Rob Shuter said the telecom giant has budgeted $1.6 billion investment in Nigeria market for the next three years. The CEO who spoke on behalf of MTN Board led by MTN Group Chairman, Mabisi Jonas who paid a courtesy visit on the  Minister of Communications and Digital Economy Dr Isa Ibrahim Ali (Pantami) Tuesday, added that Read More

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Oil prices appreciate on US inventories decline

December 25, 2019 Editorial IV 0

Oil prices edged higher Tuesday  after Russia’s energy minister, Alexander Novak, said cooperation with Organisation of Petroleum Exporting Countries, OPEC,  on supporting the market would continue and as analysts forecast a second weekly decline in U.S. crude inventories. Brent crude was up 7 cents at $66.46 a barrel while the  U.S. West Texas Intermediate was 4 cents higher at $60.56 a barrel. Read More

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Export council targets $5bn annually from soya beans

December 15, 2019 Editorial IV 0

The Nigeria Export Promotion Council (NEPC) has said it is targeting $5 billion annually from the global soya beans market. The Executive Director/Chief Executive Officer of the Council, Mr Olusegun Awolowo, stated  this Saturday during  the implementation of soya beans value chain under the one-state-one-product  initiative of the Zero Oil Plan and presentation of threshing machines/equipment for farmers’ cooperative groups in Makurdi, Read More

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Nigeria economy challenged by infiltration of fake products, industrialist 

November 28, 2019 Editorial IV 0

An industrialist and Chief Executive officer of Sokka International, master distributor of Carlton and Tiger brands Saw chain, Mr Godwin Ezeemo, has lamented over infiltration of fake and substandard products in the markets, alleging that it poses great challenge to the nation’s  economy. Ezeemo, appealed to the Standard Organisation of Nigeria (SON), to guard against fake products before it crippled the Read More

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Oil drops over 1% on US-China trade war concern

November 11, 2019 Editorial IV 0

Oil prices fell more than 1 per cent on Monday amid concerns over the prospects of a trade deal between the United States and China, while worries about oversupply also weighed on the market. Brent crude was down 69 cents, or 1.1 per cent, at 61.82 dollars by 0730 GMT. The contract rose 1.3 per cent last week. U.S. crude Read More

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AFC pledges to grow sector by over $500m

October 9, 2019 Editorial III 0

The Africa Finance Corporation (AFC) has stated that their goal is to grow their investments in mining, over the next few years, to over $500 million. This is according to Senior Vice President of investments at the Africa Finance Corporation (AFC) Begna Gebreyes. Speaking ahead the upcoming Nigeria Mining Week, Gebreyes said: “The main message I’d like to share with Read More

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Abuja trade fair exhibitors laud organisers

September 30, 2019 Editorial IV 0

Exhibitors at the ongoing Abuja International Trade Fair on Saturday commended the organisers for a hitch-free event. They said the 2019 edition of the fair recorded improvements in security arrangements and presentations by various government agencies. The event which began September 21, is featuring trade and investment profile presentations, exhibitions, business matchmaking sessions and products/services presentations. The event organised by Read More

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AfCFTA: Nigerian market to hit 250m workers in 10 years – Expert

August 28, 2019 Editorial IV 0

Executive Chairperson, African Youth Union Commission, Dr Carl Oshodi has stated that Nigerian market is expected to gulp over 32.5 per cent of African Continental Free Trade Area (AfCFTA) drawing it to a potential workforce of over 250 million in the overall 1.2 billion working age. He made this known during a national forum on AfCFTA operationalization programme in Abuja Read More

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NSE: Equity market gains N6bn

August 9, 2019 Editorial III 0

Trading activities on the flour of Nigerian Stock Exchange on Thursday closed northward following gain recorded by MTN Nigeria  Communications Plc as the market gained N6 billion. MTN Nigeria Plc led gainers table, appreciating by N4.20 kobo, Cement Company of Northern Nigeria followed with a gain of N0.45 kobo to close at N14.00, Dangote Sugar Refinery appreciated by N0.30 kobo Read More

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Forex market: Again, CBN intervenes with $210m

August 7, 2019 Editorial IV 0

The Nigerian inter-bank foreign exchange market received another boost of $210 million from the Central Bank of Nigeria (CBN), following transactions concluded on Tuesday.  Figures obtained from the CBN on Tuesday indicated that the Bank offered $100 million to authorized dealers in the wholesale sector of the market, while the Small and Medium Enterprises (SMEs) and the invisibles segments were Read More

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Seplat grows profit by 15%

July 31, 2019 Editorial III 0

Seplat Petroleum Development Company Plc, a leading Nigerian indigenous oil and gas company has recorded growth of 15 per cent in its profit before tax in its half year financial result ended June 30, 2019. The company which listed on both the Nigerian Stock Exchange (NSE) and London Stock Exchange (LSE), has reported a profit before deferred tax of $121million Read More

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NSE: Bears return as equity market sheds N60bn

July 31, 2019 Editorial III 0

Transactions on the floor of Nigerian Stock Exchange (NSE) on Tuesday returned to bearish trend, with the market capitalisation losing N60 billion. Specifically, market capitalisation of listed equities declined by 0.46 per cent to N13.558 trillion from N13.621 trillion reported on Monday. The NSE All Share Index also depreciated by 129.79 basis points to 27820.57 points from 27950.36 recorded the Read More

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Bayelsa: FRSC warns traders against encroaching highways

July 20, 2019 Editorial III 0

The Federal Road Safety Corps, Bayelsa state Command, has called on street traders especially in market places to avoid encroachment on the road, mostly the highways Mr. Ikechukwu Igwe who made the call after a routine sensitization of the traders, said the exercise was aimed at providing information and educate them against disorderliness on the road, especially market areas within Read More

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Spectranet woos customers with new data plans

July 16, 2019 Editorial IV 0

As part of efforts to make internet connectivity affordable and accessible to subscribers, Spectranet 4G LTE has introduced Spectra-cular data plans.Structured to suit the needs of all types of Data users – Casual users, Moderate users, and Heavy users, these simple easy-to-understand plans named as Unified Value, Mega Value and Always On, singularly focus on delivering superior value to the Read More

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Capital market infractions: SEC bars Oando Group’s CEO for 5 years

May 31, 2019 Editorial III 0

The Securities and Exchange Commission (SEC) has concluded investigation of Oando Plc and directed among others the resignation of the affected Board members. It also barred the Group Chief Executive Officer (GCEO) and the Deputy Group Chief Executive Officer (DGCEO) from being directors of public companies for a period of five years.  SEC also directed the convening of an Extra-Ordinary Read More