nigeria

NIGERIA AND BRAZIL TO LAUNCH DIRECT FLIGHTS WITH AIR PEACE AND CAVERTON AS OPERATORS The Nigerian Minister of Aviation and Aerospace Development, Festus Keyamo, recently met with the Brazilian Ambassador to Nigeria, Carlos Garcete, to revive the Bilateral Air Service Agreement (BASA) between...

SEC TO HOST INVESTOR CLINICS ACROSS MAJOR NIGERIAN CITIES DURING WORLD INVESTOR WEEK 2024 The Securities and Exchange Commission (SEC) is set to host investor clinics in Lagos, Abuja, and Port Harcourt from October 7-11, 2024, as part of World Investor Week. This initiative, announced by SEC...

HEIRS INSURANCE GROUP ACHIEVES 59% GROWTH IN GROSS PREMIUMS, REACHING N31.7 BILLION IN 2023 Heirs Insurance Group, which includes Heirs Life Assurance, Heirs General Insurance, and Heirs Insurance Brokers, has reported an impressive 59.3% increase in its gross written premium, reaching N31.7...

DANGOTE REFINERY SET TO BOOST NIGERIA’S GDP TO $322 BILLION BY 2025, REPORT REVEALS A recent report from Data Services & Resources Ltd has projected that the Dangote Oil Refinery will significantly elevate Nigeria's Gross Domestic Product (GDP) to $322 billion by 2025. This forecast comes as...

NGX TRADING SUMMARY FOR FRIDAY, OCTOBER 4, 2024 Overall Market Activity: Shares Traded: 320.7 million shares were traded across the market. Deals: 8,763 deals were executed. Total Market Value: The total value of the traded shares amounted to NGN 6.02 billion. Comparisons: Volume: A 19%...

NIGERIA’S LOCAL REFINERIES PRODUCED 1.46 BILLION LITRES OF PETROL BETWEEN 2015 AND 2019 AMID REFINING CHALLENGES Detailed Breakdown: From 2015 to 2019, Nigeria managed to produce only 1.46 billion litres of petrol due to the country's limited refining capacity, according to a recent report...

NGX TRADING SUMMARY FOR WEDNESDAY, OCTOBER 2, 2024: Trading Overview: Shares Traded: 425,764,914 shares were traded today. Number of Deals: 11,954 deals were executed. Total Value of Trades: NGN 8,450,869,335.47. Comparison with Previous Trading Day (September 30, 2024): Volume: Down by 27%...

NDIC STRENGTHENS JUDICIARY PARTNERSHIP TO EXPEDITE RECOVERY FOR DEPOSITORS OF FAILED BANKS Key Details: The Nigerian Deposit Insurance Corporation (NDIC) is enhancing its collaboration with the judiciary to speed up legal actions against failed financial institutions. NDIC Managing Director...

NGX TRADING SUMMARY FOR MONDAY, SEPTEMBER 30, 2024 1. Market Activity Overview: Shares Traded: A total of 586,159,214 shares were traded across 10,583 deals. Market Value: The total value of shares traded amounted to NGN 7.87 billion. Comparative Data: Compared to Friday, September 27: Volume...

NIGERIAN STOCK EXCHANGE (NGX) TRADING SUMMARY FOR THURSDAY, SEPTEMBER 26, 2024 Trading Volume and Value: Shares Traded: 344,355,846 shares Total Deals: 9,005 deals Market Value: NGN 6,609,136,259.08 Compared to the previous trading day (Wednesday, September 25, 2024): Volume: Declined by 43%...

ExxonMobil TO INJECT $10 BILLION INTO NIGERIA’s OFFSHORE OIL PROJECTS, FG ANNOUNCES AT UNGA Detailed Breakdown: 1. Announcement of Investment The Federal Government of Nigeria welcomed ExxonMobil's plan to invest $10 billion in offshore oil operations. This announcement was made by Vice...

NGX TRADING SUMMARY FOR TUESDAY, SEPTEMBER 24, 2024: Trading Volume and Value: Shares Traded: A total of 763,000,094 shares were traded. Number of Deals: These trades were executed through 12,081 deals. Market Value: The value of these transactions amounted to NGN 11,780,547,933.48. Comparison...

FLOUR MILLS OF NIGERIA TO BUY OUT MINORITY SHAREHOLDERS AFTER SECURING REGULATORY APPROVAL Flour Mills of Nigeria Plc (FMN), one of Nigeria’s largest food and agro-allied companies, has announced plans to buy out its minority shareholders following approval from key regulatory bodies. The...

NGX TRADING SUMMARY FOR TUESDAY, SEPTEMBER 24, 2024: Market Performance Overview: Shares Traded: A total of 763,000,094 shares were traded on the NGX in 12,081 deals, with a market value of ₦11.78 billion. Comparison with Previous Day: Volume of traded shares increased by 86%. Turnover...

TOP STOCK PICKS OF THE WEEK: NEM INSURANCE, ECOBANK, AND VERITAS KAPITAL LEAD THE PACK- PREMIUM TIMES DETAILED BREAKDOWN: Nigerian stocks saw a 0.8% rise last week as more funds flowed into the equity market, bringing the market’s year-to-date return to an impressive 31.4%. The NGX Oil and Gas...

NGX TRADING SUMMARY FOR MONDAY, SEPTEMBER 23, 2024: On the first trading day of the week, the Nigerian Stock Exchange (NGX) reported a total of 410.4 million shares traded in 10,669 deals, amounting to a market value of NGN 5.51 billion. When compared to the trading activity of the previous day...

MPC MAY LOWER INTEREST RATES AMID FALLING INFLATION Analysts anticipate that the Central Bank of Nigeria's (CBN) Monetary Policy Committee (MPC) may reduce the benchmark interest rate as they meet to deliberate on the country's financial conditions. The two-day meeting, which begins today...

NGX TRADING SUMMARY FOR FRIDAY, SEPTEMBER 20, 2024 On the final trading day of the week at the Nigerian Stock Exchange (NGX), a total of 554,221,558 shares were traded in 8,670 deals, with a market value of NGN 10.12 billion. Compared to Thursday, September 19, this represents a 21% increase in...

AIRTEL AFRICA SECURES $200 MILLION IFC LOAN FOR NETWORK EXPANSION Overview: Airtel Africa has received a $200 million loan from the International Finance Corporation (IFC) to enhance its network infrastructure, focusing on rural areas to improve mobile connectivity. Key Details: 1. Loan...

COCA-COLA ANNOUNCES $1 BILLION INVESTMENT IN NIGERIA TO BOOST ECONOMIC GROWTH Overview: Coca-Cola plans to invest $1 billion in Nigeria over the next five years, aiming to create jobs and enhance local economic activities across its value chain. Key Details: 1. Investment Announcement...