EnergyMarkets

"Marketers anticipate an upcoming increase in cooking gas prices for the following week."

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August 10, 2023
Gas consumers should prepare for challenging times ahead as marketers have indicated that prices will rise in the coming week. Olatunbosun Oladapo, the President of the Nigerian Association of Liquefied Petroleum Gas Marketers, stated that a surge in international prices, high taxes, vessel costs, forex shortages, and currency devaluation are contributing factors to the anticipated price…
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Markets

The investment group for listing on NGX

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June 13, 2023
The Nigerian Capital Development Fund Group Plc has expressed interest in listing on the Nigerian Exchange Limited. This was revealed in a letter titled ‘Re: Expression of Interest to List on the Nigerian Exchange Limited’, signed by the Branch Manager, Ibadan Office of the Primary Market Department of the NGX, Ayodeji Soyombo, which was obtained by our correspondent on Monday. In the letter…
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Markets

Naira devaluation fake news – CBN

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June 1, 2023
The Central Bank of Nigeria has debunked the claim that it has devalued the naira. A statement signed by Acting Director Corporate Communications, Isah AbdulMumin, said the dollar traded at N465/$1 contrary to reports. The statement partly reads, “We wish to state…
Markets

Why you should invest your money

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May 18, 2023
In December 2022, the Director of the Bank Examination Department, the Nigeria Deposit Insurance Corporation, Michael Oladele, revealed that N911bn had been lost to ‘get-rich-quick’ schemes in Nigeria over the last 23 years. While this figure may present the raw facts of…
Markets

Femi Otedola Emerges Largest Shareholder In Tony Elumelu's Transcorp

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April 18, 2023
With 5.5% Stake, Femi Otedola Emerges Transcorp’s Largest Individual Shareholder Billionaire businessman, Mr. Femi Otedola has emerged largest single individual shareholder in Transnational Corporation Plc (Transcorp), a publicly traded diversified conglomerate chaired by Mr. Tony Elumelu. A top stockbroker at the Nigerian Exchange Group (NGX), disclosed to THISDAY that the billionaire now…
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Markets

IMF lists reasons for Nigeria, others, low FDI

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April 16, 2023
The International Monetary Fund says the recent slowdown witnessed in Foreign Direct Investment, especially in developing countries can be linked to the divergent trade patterns among countries, with flows increasingly concentrated among geopolitically aligned countries…
Markets

Stakeholders seek for insurance, pension growth.

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April 10, 2023
Stakeholders in the financial sector have canvassed the need to grow the insurance and pension sectors. They spoke at the annual conference of BusinessToday Communication Limited in Lagos with the theme, ‘Consumer satisfaction in deepening penetration in insurance and…
Markets

NSIA grows net assets by 10% to N1tn

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April 1, 2023
The manager of Nigeria’s sovereign wealth fund, the Nigeria Sovereign Investment Authority, grew its net assets by 10 per cent from N919.73bn in 2021 to N1.02tn in the 2022 financial year. This was disclosed in its audited results for the 2022 financial year, which was released on Thursday. The highlights of NSIA’s activities and performance during the period under review also showed that it…
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