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BUSINESS

Dangote stocks decline amid merger denial, forex crisis

The recent decrease in the stock prices of the Dangote Group, which includes Dangote Sugar Refinery and NASCON Allied Industries, has been attributed to foreign exchange losses and the Securities and Exchange Commission’s decision to reject their merger request. Analysts suggested that the ongoing inflationary pressures and forex volatility have worsened these challenges. The depreciation of the naira has increased the cost of importing raw materials, further squeezing profit margins. […]

todayAugust 15, 2024 23

BUSINESS

Discos make N1tn amid grid crisis, unmetered customers hit 5.8m

Despite the persistent epileptic power supply nationwide, revenue generation by electricity distribution companies in Nigeria surged to N1.1trn within the 12 months of 2023, a new report has revealed. The figure represents an increase of N234.4bn or 28.2 per cent from the N831bn generated by the power firms over a similar period in 2022. This latest data was disclosed in the electricity report released by the National Bureau of Statistics […]

todayApril 2, 2024 22

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