Nigeria has been given a $500 million Eurobond says the Debt Management Office (DMO) In a press released made public in its twitter handle on Wednesday, the DMO re-affirmed that Nigeria was commitment to meeting her debt service obligations. According to the statement, the Eurobond was issued in July 2013 (as part of a dual-tranche…
Dangote Cement stock has become the most capitalized on NGX as market capitalization hits N6.15 trillion as investors react positively to the company’s statement of the Tranche I shares buyback program. The share price of the cement giant gained 9.27% to close trading today at N360.7 per share with a market capitalization of N6.15 trillion….
Apple supplier Foxconn has pulled out of a $19.5bn deal with Indian mining giant Vedanta to build a chip making plant in the country. The move comes less than a year after the companies announced plans to set up the facility in Prime Minister Narendra Modi’s home state of Gujarat. Some analysts saying that it…
Dangote Cement stock surges by 10% to hit 52wk high as the company declares a “share buy-back” program. Dangote Cement Plc shares have progressed 10% during today’s trading hours as the company announces the opening of the Tranche I shares buyback program. Nairametrics earlier reported that Dangote Cement had declared the commencement of the Tranche…
The Independent petroleum Marketers association of Nigeria, IPMAN has issued a cautionary statement to the Nigerian National Petroleum Company Limited (NNPCL), advising against any further increase in the price of petrol. Abubakar Maigadi, the National Vice-President of IPMAN, expressed concerns about market conditions, highlighting the drop in demand for the product. Maigadi urged NNPCL not…
The Federal Government of Nigeria has responded to claims of a reported electricity tariff increase on July 1. According to Mr Michael Faloseyi, the Assistant General Manager, Public Affairs of NERC while responding to an enquiry from News reporter on Monday concerning electricity tariff increase by Electricity Distribution Companies, DisCos, the Nigerian Electricity Regulatory Commission…
Edited by Damilola Adeleke Oil prices resumed their downward trend on Friday, facing a weekly decline of over 3%. Concerns about global demand were ignited by a higher-than-expected interest rate hike in the United Kingdom and warnings of impending rate increases in the United States. Brent futures experienced a slip of 56 cents, equivalent to…
Edited by Damilola Adeleke In Nigeria, a recent study conducted by Genesis Analytics in collaboration with the Gender Centre of Excellence and the Central Bank of Nigeria has revealed that approximately 25 million adult women in the country do not possess formal bank accounts. Furthermore, it was found that over 16 million rural women rely…
Nigeria’s Naira on Wednesday depreciated against the US dollar at both investor’s and exporters’ avenues, exchanging at N763.17. The open indicative rate closed at N741.21 to the dollar on Wednesday. NAN reports that the Naira depreciated by 0.87 per cent compared with N756.61, which the currency was excuhanged for the dollar on Tuesday. Naira was…
The Central Bank of Nigeria has permitted commercial banks to freely trade with foreign currencies and allowed foreign exchanges at any rate. The updates came after Godwin Emefiele’s suspension as CBN’s governor. Details shortly.
