First time for Nigeria, $100 oil price means nothing
A hundred dollar oil price is good news for any oil-producing nation, but for the first time in Nigeria’s history, it won’t be enough to save the country’s ailing economy that faces a record seventh straight year of falling real income or per capita GDP.
Cancellations worsen as 16 airports lack night facilities
Flight delays have continued to worsen as 16 airports across Nigeria do not have facilities for night operations, forcing airlines to cancel flights that cannot meet up with the 6.30 pm landing time
Why many free trade zones in Nigeria don’t work
Lingering infrastructure deficit, legal disputes, failure to raise capital, insecurity and the general harsh economic environment are leading reasons why a significant number of Free Trade Zones (FTZs) in Nigeria have remained moribund
Why Nasdaq-styled NGX platform faces uncertainty
The Nigerian Exchange Group (NGX) wants to launch a Nasdaq-style board where technology companies are the focus, but this may be a hard sell for investors who are not patient with early-stage companies.
Why Ethiopia, Brazil are the gateway for Nigerian drug trafficking
Ethiopia and Brazil have become the easiest routes for drug trafficking into Nigeria because Nigeria is not just an easy transit route for these drugs but also a consuming country, BusinessDay’s checks revealed.
To cover fuel subsidy, Buhari sends N2.557trn supplementary budget to NASS
President Muhammad Buhari has transmitted the 2022 Supplementary Budget of N2.557 trillion to the National Assembly for consideration and approval. The amount is meant to provide for subsidy on petroleum products from June to December 2022 as against the N443 billion already appropriated for the same
Nigeria’s 8.6m vehicles without insurance, risk sanctions
Of the 12 million vehicles registered in Nigeria, 8.6 million of them have no genuine third party motor insurance as provided under the law. The alarming figure is coming from Nigerian Insurance Industry Data Base (NIID) set up by the Nigerian insurance industry to capture insured vehicles, and to assist law..
Nigeria’s inflation slows to 15.6% in January
After breaking an 8-month downward trajectory in December 2021, Nigeria’s headline inflation, year- on- year slowed marginally to 15.6% in January 2022. This was a 0.03% slide from the 15.63% recorded last December. The National Bureau of Statistics (NBS), in a Consumer Price Index report released
NGXASI Closes Flat Amid Improved Market Breadth
Equities market closed on a flat note, as NGXASI recorded 0.00% to close at 47,064.82 basis points as against -0.29% depreciation recorded previously. Its Year-to-Date (YTD) return currently stands at +10.18%.
Market breadth closed positive as LEARNAFRCA led 27 Gainers as against 20 Losers topped by BERGER at the end of today’s session an improved performance when compared with previous outlook.
Market turnover closed negative as volume moved down by -18.88% as against +8.51% uptick recorded in the previous session. ACCESS, GUINNESS and STERLNBANK were the most active to boost market turnover. GUINNESS and ACCESS topped market value list.
ETRANZACT leads the list of active stocks that recorded impressive volume spike at the end of today’s session.
