Less than a month after hitting N30 trillion in market capitalization, the Nigerian Exchange Limited has suffered N313bn loss to dip to N29.915 trillion.
The market cap dropped by 1.04 in percentage terms, the same percentage as the All Share Index, which dropped 574.59 basis points to settle at 54. 915.61.
In terms of exchanges, a total of 137,286,570 volume of shares worth N1.509bn were traded…
The owners of TGI Group restaurants have joined forces to create Terra jollof Cube.
March 10, 2023
Tropical General Investments, makers of Terra Jollof Cubes, has said it will continue to spare no efforts in producing quality seasoning cubes for the benefit of the consuming public.
As a result, the firm said it would partner all stakeholders including caterers to create…
Taxes paid by manufacturers to the Federal Government rose by 60 per cent to N839.6 in 2022 from N524bn recorded in the prior year, according to findings by The PUNCH.
Data sourced from separate reports compiled by the National Bureau of Statistics showed that manufacturing…
Nigeria’s misery index has soared by 11.9 percentage points to 73.05,
The misery index is a measure of economic distress felt by everyday people, due to the risk of (or actual) joblessness combined with an increasing cost of living. The misery index is calculated by adding the seasonally adjusted unemployment rate to the inflation rate.
The misery index of a nation is a yardstick of economic…
The Federal Operations Unit Zone B of the Nigeria Customs Service has disclosed that it recorded 130 seizures worth N305m between January to February 2023.
A statement by the Public Relations Officer of the Zone, Suleiman Isah, said nine units of used vehicles, two units of…
The Lagos State government has listed a N137, 328,000,000 series IV bond on the Nigerian Stock Exchange.
This was revealed in a notice by the exchange in its weekly report of activities on the market.
NGX said that the bond is a 10-Year 13.00 per cent fixed rate unsecured…
The indirect tax burden on Nigerians rose by 18.88 per cent to N3.03tn in 2022 amid an economic downturn and rising inflation.
According to the National Bureau of Statistics, Nigerians paid N3.03tn as indirect tax in 2022, an 18.88 per cent increase from the N2.55tn that was paid in 2021. This is based on current basic prices.
Indirect taxes are taxes, which include value-added taxes, Customs or…
The Managing Director, Guinea Insurance Plc, Mr Ademola Abidogun, has said the company paid about N686m claims in three years.
He said the company was committed to the satisfaction of customers and the insuring public with prompt settlement of claims as well as improved…
The Nigerian Economic Group Summit said Nigeria’s weak manufacturing sector was the main factor behind the currency crisis. Senior Economist at NESG Dr.
Wilson Erumebor reveals this in a recent article published by Foresights Africa. Entitled “Nigeria in…
Led by the services sector, Nigeria’s output expanded by 3.1 per cent last year, which aligns with the expectations of the market.
On its face value, the growth figure, which is about 0.5 percentage point higher than the population growth, suggests economic development is looking up.
But such an argument could be deflated by the sluggish growth recorded by the agriculture sector – a sector…