Month: February 2024

Senate to Investigate Cement Producers Sudden Price Hikes The Senate has resolved to investigate the sudden hike in the price of cement by its producers in Nigeria. This followed the…

Nigerian Bourse Rises by N165bn as FBNH, BUA Rally The Nigerian Exchange (NGX) equities market capitalisation climbed again on Wednesday as investors increased their interest in FBN Holdings and BUA…

Sanlam General Insurance Surpasses 2023 Revenue by 131% – MD Sanlam General Insurance, on Wednesday, said it surpassed its 2023 revenue budget of N13.5 billion by 131 per cent and…

Senate Urges FG to Stop Planned Increase in Electricity Tariff via Subsidy Withdrawal Senate has urged the Federal Government to stop its planned increase of electricity tariff via the planned…

Adeleke Launches N3.4bn Revolving Cooperative Loan Scheme Gov. Ademola Adeleke of Osun on Wednesday launched the “State Special Ward Level Cooperative Loan Programme”, with the aim of providing N3.436 billion…

BUA, FBNH Selloffs Drag NGX Lower By N729bn Equities investors in the Nigerian Exchange (NGX) lost more than N729 billion on Tuesday as the market priced BUA Cement, FBNH and…

FG Threatens to Open Borders for Cement Importation The federal government has threatened the possibility of opening the borders to cement importation if Nigerian cement manufacturers refuse to play ball…

Naira Hits N1652 on Forward Market The Nigerian naira has continued to lose its purchasing power. Nigerian non-deliverable currency forwards fell across the curve to a new record low against…

Electricity Act: Experts Laud FG on 5% Compensation to Host Communities Some experts in the power sector have commended the Federal Government for the five per cent set aside to…

British Petroleum to Invest $1.5bn in Egypt for Development Activities Energy giant, British Petroleum (BP) plans 1.5-billion U.S. dollar new investments for development and exploration activities in Egypt, the Egyptian…