BUSINESS

The Nigerian stock market lost N12.58bn last week as investors took profits in oil and gas, banking and consumer goods stocks. The All-Share Index of the Nigerian Exchange Limited dropped by 0.06 per cent to close the week at 42,014.50 basis points from 42,014.50bps the previous week, while the market capitalisation fell to N21.93tn from N21.94tn. All other indices finished lower with the exception of NGX Main Board, NGX Insurance, […]

The Federal Government has said it will send requests for proposals to qualified bidders for the concession of Nigeria’s four major international airports after assessing the requests for qualification. It also said the preceding stage – request for qualifications phase of the Nigeria Airport Concessions Programme – came to a close at 3:00pm on Monday. The October 25, 2021 deadline was announced by the Federal Ministry of Aviation on September […]

The Nigerian Bulk Electricity Trading Plc on Thursday provided statistics on misalignments in the power value chain, saying that about 14,000 megawatts of electricity was contracted to power generation companies. Managing Director, NBET, Nnaemeka Ewelukwa, gave a breakdown of the quantum of Nigeria’s electricity demand, what was contracted, available capacity, what was produced, among others. He provided these statistics while speaking during a plenary session at the World Energy Day […]

The prices of soybean and maize – the basic grains in poultry production – have increased by about 300 per cent and 170 per cent respectively, warranting the collapse of many poultry farms across the country. The Director-General, Poultry Association of Nigeria, Onallo Akpa, said these in an interview with reporters. Akpa said the worst hit farms were those operated by small scale poultry farmers, as most dealers in this […]

The Federal Ministry of Sports and Youths Development on Wednesday said 10,000 out of the three million youths who applied for the Nigeria Youth Investment Fund have been shortlisted. The Youth Development arm of the ministry said this in a statement it issued in Abuja on Wednesday. The statement added that the selected youths would be entitled to loans between N250,000 and N3m. It added that the Ministry of Youth […]

The equities market of the Nigerian Exchange Limited upturned the previous day’s loss with a N95.34bn gain on Tuesday following renewed buying interest in 27 stocks. The NGX All-Share Index increased by 0.45 per cent to close at 40,896.96 basis points from 40,714bps on Monday, while the market capitalisation of stocks rose to N21.31tn from N21.22tn on Monday. The total volume and value traded appreciated by 194.75 per cent and […]