JPMorgan Extends Lead in Investment Banking Fees Amid Deal-Making Drought
JPMorgan has strengthened its position at the forefront of the investment banking fee rankings, securing 8.6% of the global dealmaking…
Category: Local
Closure of Lagos Markets Impacts Traders’ Revenue Amid Waste Management Concerns
The Lagos Waste Management Authority (LAWMA) has temporarily closed the Oyingbo and Alayabiagba markets on the Lagos Mainland due to…
Rising Crude Oil Prices Prompt Concerns Over Subsidy Costs and Manufacturing Expenses in Nigeria
The Federal Government of Nigeria is expected to incur additional subsidies on premium motor spirit (PMS), also known as petrol,…
Nigerian Investors Experience N112 Billion Loss in Bearish Trading
Investors on the Nigerian Exchange Limited (NGX) faced sustained losses as the market saw a decline of N112 billion. This…
Foreign Investors Decrease Control in Nigerian Stock Market Transactions in August
In August 2023, foreign investors traded 14.15 percent of the overall N262.56 billion in the Nigerian stock market, while domestic…
Nigerian Exchange Group (NGX) Records 25% Surge in Other Income Despite Marginal Revenue Decline in H1 2023
Despite a marginal decline in revenue during the first half of 2023, the Nigerian Exchange Group (NGX) experienced a 25%…
National Economic Council Confirms $3 Billion Emergency Loan for Crude Oil to Stabilize Naira
The National Economic Council has affirmed that the $3 billion emergency loan-for-crude oil, secured by the Federal Government in August,…
Nigerian National Petroleum Company Seeks $3 Billion Loan from Afrexim Bank to Support Naira
The Nigerian National Petroleum Company Limited (NNPC) is in discussions with the African Export-Import Bank (Afrexim Bank) to secure a…
Top Five Nigerian Exporters Earn $22 Million in April and May
According to figures from the Central Bank of Nigeria (CBN), the top five non-oil exporters in Nigeria collectively earned $22…
Access Holdings’ Net Foreign Exchange Gains Surge by 362% to N244 Billion in H1 2023
Access Holdings Plc has reported a remarkable increase in its net foreign exchange gains, which rose by 362% to N244…
New CBN Governor Olayemi Cardoso Aims to Address Naira Downturn
The foreign exchange (FX) market in Nigeria remained relatively calm on Thursday, with market participants eagerly awaiting the next policy…
FX Scarcity Drives Surge in Local Raw Material Sourcing in Nigeria
The Manufacturers Association of Nigeria (MAN) reports a significant increase in the utilization of local raw materials in the manufacturing…
Food Prices Surge by 31% in Ebonyi and Abia States Over 12-Month Period
According to the ‘Selected Food Price Watch’ report published monthly by the National Bureau of Statistics, food prices in Ebonyi…
IMF Urges Nigeria to Halt Tax Waivers and Prioritize Domestic Revenue amid Debt Crisis
The International Monetary Fund (IMF) has recommended that Nigeria and other Sub-Saharan African nations focus on abolishing tax exemptions and…
Nigerian National Petroleum Company Spends N34.47 Billion on Pipeline Repairs in 18 Months
The Nigerian National Petroleum Company Limited (NNPCL) has allocated nearly N34.47 billion towards the repair and management of pipelines over…
Oil Prices Surge to $95 per Barrel Amid Resurfacing Fuel Queues in Lagos
Oil prices experienced a notable increase of over $1 per barrel on Wednesday following the reappearance of fuel queues in…
BUA Foods Achieves Remarkable 182.8% Growth in Cash and Cash Equivalents in H1 2023 Despite Challenging Business Environment
BUA Foods, a fast-moving consumer goods company in Nigeria, has reported an impressive 182.8% increase in its cash and cash…
Analysis: Nigeria’s Top 5 Sectors and Their Contributions to H1 2023 Nominal GDP
In the first half of 2023, Nigeria’s dominant sectors collectively contributed N75.22 trillion, marking a modest 1.6% increase compared to…
Money Supply in Nigeria Sees Marginal Decline in August 2023
In August 2023, Nigeria’s narrow money supply (M1), comprising cash in circulation and easily convertible deposit accounts, decreased by 0.56…
Nigerian Businesses Grapple with Foreign Supplier Rejections Amid Escalating Currency Shortages
Nigerian businesses dependent on imports face a severe setback as foreign suppliers reject letters of credit (LC) and insist on…
IMF Calls on Nigerian Finance Ministry and Central Bank to Champion Climate Policies in Economic Strategies
The International Monetary Fund (IMF) has emphasized the pivotal role of Nigeria’s Ministry of Finance and Central Bank in combatting…
NGX CEO Affirms Capital Market’s Potential in Achieving Government Objectives Through Tax Reforms
Temi Popoola, the CEO of Nigerian Exchange Limited (NGX), expressed confidence in President Tinubu’s ongoing tax reforms, stating that they…
Nigeria Exchange Limited Greenlights Capital Hotels Plc Delisting for Strategic Ventures
Summary: The Nigeria Exchange Limited (NGX) has granted approval for the delisting of Capital Hotels Plc’s shares, paving the way…
Nigerian Senate Resumes with Key Agendas Including CBN Leadership Confirmation
The Nigerian Senate is set to resume sessions after a two-month summer recess. Among the key expectations are the confirmation…
Nigeria to Host International Financial Inclusion Conference (#IFIC2023) to Accelerate Global Financial Inclusion Efforts
The Central Bank of Nigeria, in partnership with agencies within the National Financial Inclusion Governance Committees, will host the second…
Nigeria Faces Risk of Debt Overhang as Public Debt Surges
Nigeria’s public debt has risen to N87.38 trillion in the second quarter of 2023, with additional debt from “Ways and…
Nigeria’s Oil Rig Count Rises as Gains from the Petroleum Industry Act Materialize
Nigeria has seen a notable increase in its oil rig count, rising from 17 in 2019 to 31 as of…
Key International Oil Companies Commit to Over $55 Billion Investments in Nigeria’s Energy Sector by 2030
Leading International Oil Companies (IOCs) are showing renewed interest in Nigeria’s energy sector, with commitments to invest over $55 billion…
Nigerian Government Aims to Boost Fintech Funding through Improved Regulatory Environment and Infrastructure
The Nigerian Ministry of Communications, Innovation, and Digital Economy plans to create a conducive regulatory environment and enhance digital infrastructure…
Aliko Dangote Clarifies NNPC’s Support for Refinery Project, Pledges to Utilize Nigerian Crude for Operations
Aliko Dangote, President of the Dangote Group, has addressed misconceptions regarding crude oil supply to his 650,000 barrels per day…