Nigerian Stock Market Rebounds with N96bn Gain, Driven by Key Sector Advances
The Nigerian Exchange Limited experienced a positive shift on Wednesday as investors gained N96 billion, offsetting a previous loss of…
Category: Market
Exchange rate to hit N1.993/$ by 2028 — Fitch
Fitch Solutions projects a significant depreciation of Nigeria’s naira, forecasting it could fall to N1,993 per US dollar by 2028.…
FIRS Chief Highlights Taxpayer-Friendly Reforms at Lagos Trade Fair
The Executive Chairman of the Federal Inland Revenue Service (FIRS), Dr. Zacch Adedeji, emphasized the agency’s commitment to becoming more…
Verve Hits 70 Million Payment Cards in Nigeria and Consolidates Market Leadership
Verve International, Africa’s largest domestic payment scheme, has reached a significant milestone with over 70 million payment cards issued in…
FBN Holdings Launches N150 Billion Rights Issue to Strengthen Lending and Digital Expansion
FBN Holdings is set to raise N150 billion from its shareholders through a rights issue, offering nearly six billion shares…
Nigeria’s Foreign Exchange Market Faces Ongoing Challenges Despite Recent Measures
Despite efforts by the Central Bank of Nigeria (CBN) to stabilize the foreign exchange (FX) market, Fitch Ratings reports that…
Robinhood shares drop as growth push takes a toll on Q3 results
Robinhood Markets, Inc. saw its shares plummet nearly 11% before the market opened on October 31, following a strong performance…
Nigeria stops Cooking Gas Exports to Address Rising Domestic Prices
The Nigerian government has announced a suspension of the export of Liquefied Petroleum Gas (LPG) to prioritize domestic supply and…
Nigerian Airlines Turn to Dangote Refinery for Local Jet Fuel as Import Costs Soar
Nigerian airline operators have confirmed that, they are sourcing Jet A1 fuel from Dangote’s refinery to curb the high cost…
Finance ministry, Customs’ bureaucracy stalls zero food import take-off
The United States Chamber of Commerce has committed $320 million toward mortgage refinancing and SME financing in Nigeria, marking a…
Three marketers to import 141m-litres petrol
Three major oil marketers are set to import about 141 million litres of Premium Motor Spirit (PMS) into Nigeria this…
Dangote’s 1,200km gas pipeline abandonment was a business decision, not govt policies- Petroleum Ministry
The Ministry of Petroleum Resources (Gas) has clarified that Dangote Group’s decision to abandon a proposed 1,200km subsea gas pipeline…
FG set to exploit $7trillion global Halal market
On Wednesday, the Federal Government will unveil a strategy aimed at positioning Nigeria as a global leader in the Halal…
Dangote refinery: Queues now a thing of the past, says Otedola
Billionaire businessman Femi Otedola has praised Nigerian President Bola Tinubu following the start of fuel loading at the Dangote Refinery…
Global Stock markets surge amid US, China inflation trends
Global stock markets saw declines this week due to inflation data from the U.S. and China, sparking hopes for a…
European markets start the week on a positive note
On August 28, 2024, European markets opened higher, with the pan-European Stoxx 600 index gaining 0.67% in early London trading.…
World stocks tiptoe, dollar holds as investors await US data
World stocks held steady on Tuesday while the dollar remained near a two-week high as investors awaited crucial U.S. economic…
Asian markets slip amid economic worries
Asian markets fell on Tuesday as investors anticipated the upcoming U.S. jobs report, which is expected to influence the Federal…
Petrol scarcity: No respite as marketers run out of stock amid slump in imports
Nigeria’s petrol scarcity crisis has deepened, with fuel marketers struggling to replenish their dwindling stock as the Nigerian National Petroleum…
Futures extend gains after inflation data
U.S. stock index futures continued their upward trend on Friday, bolstered by a key inflation report that showed price pressures…
Equity market reverses loss with N117bn gain
The Nigerian Stock Exchange (NSE) rebounded on Thursday, recovering from the previous day’s losses as investors gained N117 billion. The…
Nigeria, Germany target over $500mn in energy deals in 2024
Nigeria and Germany plan to surpass last year’s $500 million in energy deals by targeting even larger agreements in 2024.…
Canada to impose 100% tariff on Chinese EVs, including Teslas
Canada has announced plans to impose a 100% tariff on imports of Chinese electric vehicles (EVs) and a 25% tariff…
UBS Wealth Management raises odds of U.S. recession to 25% from 20%
UBS Global Wealth Management has increased the likelihood of a U.S. recession to 25% from 20%, pointing to a weakening…
Oil blocks: FG threatens to revoke licenses of firms lacking exploration capacity
The Federal Government of Nigeria has issued a stern warning to companies and individuals holding oil block licenses who have…
Futures edge higher with payrolls revisions, Fed minutes on tap
U.S. stock index futures saw modest gains on Wednesday as investors awaited key economic updates, including revised U.S. payroll data…
NNPC distributes fuel to PH, Warri Depots, addresses scarcity
The Nigerian National Petroleum Company (NNPC) has delivered petrol to depots in Port Harcourt and Warri in an effort to…
CBN posts highest remittance inflow of $553m in July
The Central Bank of Nigeria (CBN) announced a substantial increase in remittance inflows, reaching $553 million in July 2024, marking…
European stocks dip lower as market uncertainty lingers; Sweden’s Riksbank cuts rates
European stocks declined on Tuesday afternoon, with the Stoxx 600 index down 0.29% as market uncertainty over future interest rate…
N847bn lost as equity market extends downtrend
The Nigerian equity market continued its decline for the second week, shedding N847.03 billion as the All-Share Index fell by…