Investors Lose N11.88bn as NGXASI Dips by 0.06% to Open the Week Negative
Equities market closed on a positive note, as NGXASI appreciated by -0.06% to close at 45,957.35 basis points as against +0.15% appreciation recorded previously. Its Year-to-Date (YTD) returns currently stands at +7.52%.
Market breadth closed negative as NNFM led 14 Gainers as against 23 Losers topped by REGALINS at the end of today’s session an unimproved performance when compared with previous outlook.
Market turnover closed negative as volume moved down by -1.06% as against -67.76% downtick recorded in the previous session. CHAMS, UBA and COURTVILLE were the most active to boost market turnover. SEPLAT and UBA topped market value list.
ABCTRANS leads the list of active stocks that recorded impressive volume spike at the end of today’s session.
Nigeria’s small businesses in unending battle against dollar shortages
Nigeria’s small businesses are locked in a survival battle against a foreign exchange crisis that is forcing them to adapt or die trying. Micro, small and medium scale enterprises (MSMEs) are regarded as the core of the economy, seeing that they provide platforms with
Nigeria’s top 10 richest states gulp nearly half of petrol subsidy
Nigeria’s top 10 richest states have accounted for nearly half of petrol subsidy in the country, which alludes to the fact that the poorest states have not benefited from the payment of petroleum subsidy in the country.
Nigeria records more deaths by terrorism as fatalities rise 10,366 last year
Last year may be said to be worse in terms of insecurity as the number of people killed (fatalities) surged year-on-year by 47 percent to 10,366 in 2021, according to data compiled by SBM intelligence
Oil opens week with jump on outlook for stronger global demand
Oil pushed higher at the week’s open as investors weighed prospects for rising demand as the omicron virus wave fades in key economies. Global benchmark Brent rose toward $89 a barrel after a run of five straight weekly gains,
Non-Fungible Tokens – Regulatory Concerns in Nigeria
The last decade has witnessed a massive rave in the use and acceptance of digital currencies and assets all around the world. Amongst these digital assets, Nonfungible Tokens (“NFTs”), has gained so much popularity-particularly amongst creatives and content creators.
Apple Nears First Product Launch of 2022, with 5G iPhone SE and New iPad on Tap
Apple Inc. is nearing its first launch event of the year, with a new iPhone SE and iPad on tap. Also: The company takes another hit to its App Store business model, and the autonomous car team loses another top manager.
U.S. House Bill on China Competitiveness, Chip Investment, Coming Soon – Pelosi
The U.S. House of Representatives will soon introduce a bill to increase U.S. competitiveness with China and boost federal spending on semiconductors, Speaker Nancy Pelosi said on Friday as the Biden administration seeks to boost domestic chip production.
LCCI: The Non-Interest Debt Debate for Budget 2022, Rethinking Public Policy
Nigeria’s leading trade business group, the Lagos Chamber of Commerce and Industry (LCCI), recently hosted stakeholders at a conference assessing the Federal Government’s 2022 Budget and how to chart a pathway to effective fiscal management.
Rising Governance Cost, Recession, Others Raise FG Spending by 183%
Rising governance cost, economic recessions necessitating higher government spending may have combined with other factors to raise Federal Government spending by 183 per cent in seven years, it has been learnt.
Nigeria Lost N74.51bn Oil Revenue in December, Says OPEC
A new monthly report of the Organization of the Petroleum Exporting Countries has shown a plunge in Nigeria’s crude oil production in December 2021, triggering a loss of about N74.51bn in oil earnings.
Agusto to FG: Admit Nigeria Has Debt Problem before Economy, Local Currency Crumbles
The Founder of Nigeria’s first rating agency, Agusto & Co Limited, Mr. Bode Agusto, has called on the federal government to admit that the country has a serious debt problem that required urgent steps to address before the Nigerian economy and its local currency would crumble and crash.
FAAC: FG, States, LGs Share N699bn as Allocation in December – up by N23bn
The federation accounts allocation committee (FAAC) says it shared N699.824 billion among the three tiers of government for December 2021. This represents an increase of N23.878 compared to N675.946 disbursed in the previous month.
Dangote Oil Refinery to Begin Production before Q3, 2022
Africa’s richest man, Aliko Dangote, said mechanical work on his much-awaited crude oil refinery located at the Lekki Free Zone, in Lagos State, had been completed and the facility would begin to run between August and September this year.
FG Signs Tripartite Agreement with Two States on Electricity Supply
Poised to improve electricity supply to rural and urban settlements, the Federal Government had signed a Memorandum of Understanding (MoU) with the Sokoto and Bauchi state governments for solar and mini grid power systems
NGX to Bar CMOs that Fail to Renew their Licenses from Performing Capital Market Functions in 2022
On January 21, 2021, SEC released a circular, following its earlier circular on December 16, 2021, reminding all Capital Market Operators (CMOs) and relevant stakeholders that the 2022 Registration Renewal Exercise would end on January 31, 2022, that there would be no extension after the stipulated deadline. The renewal portal can be accessed via eportal.sec.gov.ng.
From the circular, all CMOs that fail to renew their licenses become barred from performing capital market activities in 2022.
