At a time when Russia’s war against Ukraine is triggering increased demand for oil and gas, Nigeria could easily be witnessing both a fiscal and foreign exchange windfall but years of poor management of its natural resources have culminated in being the worst times for its people.
How Customs 15% levy denies Nigerians cheaper cars
Nigerian car dealers and users, who originally would have heaved a sigh of relief with the reduction of import duty on used vehicles from 35 per cent to 20 percent, had their hopes dashed with the reintroduction of the 15 percent National Automotive Council (NAC) levy on imported used cars.
Nigerian farmers warn as fertiliser, diesel price hikes bite
Farmers and experts in Africa’s most populous country are warning that food prices could rise further as the cost of fertilisers has more than doubled. The average price of a 50kg bag of NPK, a critical type of fertiliser mainly used by smallholder farmers, has surged
NSIA’s $200m investment seen boosting Nigeria’s tech sector
The Nigeria sovereign investment authority (NSIA) on Thursday said it has raised $200 million to deepen investment and growth in the technology sector. Pius Anyiador, senior vice president and lead portfolio manager, NSIA disclosed this on Thursday at the BusinessDay Breakfast Meeting (BBM) in Abuja.
Market hits new high as Seplat, Cadbury, others gain
Nigeria’s equities market continued its northward movement on Thursday as investors bought shares of Seplat Energy, CAP, Cadbury and others. Seplat shares rose most by 9.09percent or N100, from N1,100 to N1,200, followed by CAP which moved up from N19.95 to N21.90, adding N1.95 or 9.77percent;
Total announces plans to exit Nigeria’s onshore assets
Total Energies SE has joined the league of foreign oil companies exiting the Nigerian oil market, after operating in the market for over 60 years as the French multinational announced plan to sell its minority stake in a Nigerian oil joint venture
Investors Gain N143.41bn as NGXASI Inches up by 0.55% Amid Improved Market Turnover
Trading activities in the Nigerian equities market closed positive at the end of today’s trading session as market maintaining the positive posture earlier recorded at the end of the previous session.’
The NGX All-Share index inched up by +0.55% to close at 48,837.76 basis points as against the +0.01% marginal gain recorded previously.
The total volume traded grew by +207.92% to close at 759.65m, valued at N5.54bn and traded in 5,032 deals. FCMB was the most traded stock by volume with 503.98 million units traded, while FCMB was also the most traded stock by value which is put at N1.76 billion.
Sectoral performance was broadly positive as fifteen (15) NGX sector indices closed northwards while three (3) closed flat. The NGX Oil and Gas Index topped with +5.17% gain.
At the close of trading, market recorded 33 gainers to 16 losers and 57 unchanged. CADBURY topped the list of gainers as CHAMPION topped the list of losers.
Access Holdings to Pay Access Bank 2021 Final Dividend as Interim Dividend
This announcement is made pursuant to the Corporate Action Announcement dated March 18, 2022 made by our banking Subsidiary-Access Bank Plc informing the investing public that the declared Final Dividend of 70 Kobo for every ordinary share of 90 Kobo (subject to appropriate withholding tax) in respect of its Financial Year Ended December 31, 2021 will be discharged in accordance with the terms and conditions contained therein by Access Holdings Plc on Thursday, April 28, 2022.
Shareholders are hereby notified that the above-mentioned dividend will be paid by Access Holdings Plc as Interim Dividend on Thursday, April 28, 2022.