Stock Market Maintains Positive Trend, Gains N264bn
The Nigerian equities market yesterday maintained its positive trend driven by bargain-hunting in BUA Foods Plc and 35 others lifting the overall market capitalization by N264billion. The Nigerian Exchange Limited (NGX) All-Share Index rose by 482.05 basis points or 0.71 per cent, to close at 68,359.22 basis points from 67,877.17 basis points when the market […]
Naira loses 0.52% as rising demand for dollars persists
The foreign exchange (FX) pressure continued on Wednesday as the naira depreciated against the dollar across market segments. Naira lost 0.52 percent of its value as the dollar traded at N965 per dollar at the close of business on Tuesday and also opened Wednesday at the same rate, compared to N760 on Monday at the […]
Global debt hit $307tn in H1 – IIF
Global trade association, the Institute of International Finance, has said that the global debt has hit a record $307tn in the second quarter of 2023. IIF said the record was made despite hikes in interest rates across the globe with markets such as the United States, Japan, the UK and France driving the rise. This […]
Electricity supply crashes 97% to 88MW as grid collapses again
Homes and businesses were again left without public power supply yesterday as the national power grid dropped by 97.1 percent from 3,152.7MW at 11am to 88MW by 12 noon. Data from the National System Operator, NSO, showed that as at 5pm, the Transmission Company of Nigeria, TCN, was still battling to restore the grid as supply […]
FIRS eyes 18% tax to GDP ratio in 3yrs
The Federal Inland Revenue Service, FIRS, has said it increased Nigeria’s tax to Gross Domestic Product, GDP, ratio from 6.0 percent to 10.86 percent in 2022, through various reforms. The Director, Taxpayer Services, FIRS, Abuja, Mrs. Saidatu Yero, disclosed this yesterday at the sensitization programme of the Lagos Mainland West region of FIRS in Lagos. […]