Ayo Ademola
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Business
Equities market regains momentum, adds 0.90% over investors interest in Dangote Cement, 21 others
The equities market of the Nigerian Exchange Limited (NGX) on Wednesday recorded its first positive performance this week as buying interest in Dangote Cement Plc and 21 others drove the All-Share Index 0.90 per cent higher. The All Share Index (ASI) rose by 479.17 basis points or 0.90 per cent to close at 53,603.80 basis points. Accordingly, investors gained N261…
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Economy
Senate passes Investment and Securities Bill aims at reforming capital market
The nation’s capital market received a major boost on Wednesday as the Senate passed into law, the Investments and Securities Bill 2023. The Bill which is expected to aid the functioning of the capital market and facilitate the ongoing economic diversification in the country among others, had been passed by the House of Representatives last December. During plenary on Wednesday,…
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Business
Oando migrates from loss to N34.7bn profit in 2021 FY
Oando Plc has announced a N34.7billion profit after tax in its 2021 financial year compared to a loss after tax of N140.7billion in 2020 financial year. The indigenous petroleum company listed on the Nigerian Exchange Limited (NGX) announced 51 per cent turnover increase to N722.5 billion compared to N477.1 billion in the 2022 financial year. Revenue for the period was…
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Business
Zenith Bank announces 30.03% increase in assets to N12.29trn
Zenith Bank Plc grew its assets by 30.03per cent from N9.45trillion in 2021 financial year to N12.29trillion in the corresponding period of 2022, mainly driven by growth in customer deposits. The bank disclosed this in a statement on Tuesday on its audited results for the year ending December 31, 2022. It said that its customer deposits increased by 39 per…
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Business
Equities market begins new week on investors profit-taking, depreciates by N622bn
The equities market of the Nigerian Exchange Limited (NGX) on Monday commenced on a negative note to sustain negative momentum into the new week as its overall capitalisation plunged by N622 billion. The NGX All Share Index (ASI) fell by 1,141.76 basis points or 2.08 per cent, to close at 53,750.77 basis points , while investors lost N622 billion in…
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Politics
Diya was a distinguished patriot who showed deep commitment to Nigeria-Osinbajo
Vice President Yemi Osinbajo, on Monday paid tribute to the late Lt- General Donaldson Oladipo Diya, (rtd), calling him a patriot who showed deep love and commitment to Nigeria during and after his service to the military and the nation, In a statement he personally signed, the VP said: “I received with sadness, the news of the passing of (rtd)…
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Business
NGX, experts educate Nigerians on money management, sustainable investing
As part of activities commemorating Global Money Week, Nigerian Exchange Limited (NGX), in partnership with social media leading voices on finance and investment, organised a Twitter Spaces on money management and sustainable investing. The forum which was hosted via a Twitter Spaces session recently featured Head, Product Development, NGX, Chidinma Chukwueke-Okolo; Founder and Chief Executive Officer, MoneyAfrica and Ladda.ng, Tosin…
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Perspectives
Opinion: May 29, 2023 is sacrosanct, by Kola Amzat
The Nigerian presidential election has come and gone with Asiwaju Tinubu declared as President-Elect by the Independent National Electoral Commission (INEC) after polling 8.794 million (36.61%) in 28 states defeating his closest rivals, Atiku Abubakar with 6.984 million (29.07%) in 21 states and Peter Obi with 6.101 million (25.40%) in 17 states. While Tinubu met constitutional requirement of 25% in…
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Economy
Average price of 1kg rice increased by 19.30% to N520.84 in February, says NBS
The National Bureau of Statistics (NBS) on Monday disclosed that the average price of 1kg of rice (locally sold loose) on a year-on-year (YoY) basis rose by 19.30per cent from N436.58 in February 2022 to N520.84 in February 2023. The bureau in its “selected food price watch” report revealed that on a month-on-month basis, the average price of rice increased…
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Business
Global economy set to fall three-decade low, says World bank
The global economy’s “speed limit”—the maximum long-term rate at which it can grow without sparking inflation—is set to slump to a three-decade low by 2030, according to the latest report by World Bank. The report noted that an ambitious policy push is needed to boost productivity and labour supply, ramp up investment and trade, and harness the potential of the…
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