Category: Business
Adequate mobilisation of domestic savings for capital formation and investment has been identified as a veritable option for growing the economy. The Minister of Finance, Budget and National Planning, Zainab Ahmed, stated this while receiving the Working Group Report on the National Savings Scheme in Abuja yesterday. Ahmed stated that the just launched Medium-Term National […]
President Muhammadu Buhari yesterday, at the Gas Exporting Countries Forum (GECF) summit in Doha, Qatar, restated Nigeria’s interest in investing more in natural gas despite the tight investment climate. Although Nigeria has more gas than crude oil, harnessing the resources has been elusive given the investment needed to explore, process or export gas. With Chinese […]
United Capital PLC will reward shareholders with a total dividend payout of N9 billion, translating to N1.50 per every ordinary share for full year 2021, 114 per cent higher than what it paid for 2020, the investment bank said in a disclosure on Friday, seen by PREMIUM TIMES. United Capital, whose revenue touched a new […]
Nigeria could be bracing up for a new petrol pump price as the Nigerian National Petroleum Company Limited has introduced a fresh marine charge for marketers. This is coming as Nigerians continue to feel the brunt of petrol scarcity occasioned by dirty fuel importation. In a letter issued by NNPC to marketers, NNPC announced a […]
As trading starts this week, Aliko Dangote and other shareholders of his cement company, will be hoping to recoup last week’s loss, after their funds in the manufacturer depleted by -0.47%. Dangote Cement stock had started dropping last week with N278.4kobo, but the equity slumped on Wednesday to N273.5kobo per share, and traded flat till the […]
Commercial banks have released more names of forex defaulters in compliance with the directive of the Central Bank of Nigeria (CBn) to publish the names of individuals looking to trick the system. The gathered from the website of 10 commercial banks shows that as of Friday, 18th 2022 there are over 1,226 names published with […]
Nigeria’s foreign trade balance leapfrogged to a surplus of $1.1 billion in Q4 2021, as export value surpassed import bill for the first time since Q3 2019, representing 8 consecutive quarters of negative trade balance. This is according to data on foreign trade obtained from the Central Bank of Nigeria (CBN). According to the data, […]
The Nigeria stock market rebounded from Monday’s trading losses and handed investors a N1billion marginal gain at the close of the day’s business. This followed the rise in equity capitalization from N25.360 trillion to N25.361 trillion on Tuesday. The All-Share Index was up by 1.54 basis points to rise from Monday’s 47,063.28 to 47,064.82 today. Investors traded […]
Bitcoin’s resurgence is yet to take off this year, as the most popular cryptocurrency continues to experience a rollercoaster that has hindered it from replicating the form of Q1 2021. BTC is currently trading at $44,295.57 per coin as at the period of filing this report, with year-to-date representing a decline of -4.3%, considering the […]
South African billionaire, Johann Rupert, is gradually closing in on Nigeria and Africa’s richest person, Aliko Dangote, the founder of Dangote Cement and Sugar brands. This comes as Rupert gained N58.20 billion ($140 million) on Wednesday during trading hours, while Dangote lost N8.73 billion ($21 million), wiping off 0.15% from his wealth during the same period. Rupert […]
The Nigerian National Petroleum Corporation Limited has disclosed to the House of Representatives that the company had placed significant orders of over 2.1 billion litres of methanol-free PMS to ensure the queues vanish in a few days. This was disclosed by the NNPC boss, Mele Kyari on Wednesday in a briefing with the House of Representatives Committee […]
The Federal Government’s debts to Nigerian workers has increased to N8.7 trillion after borrowing N642.9 billion last year. A data by Pension Commission (PenCom) obtained by Ripples Nigeria on Saturday revealed that the figure is 7.9 percent higher than the N8.1 trillion total figure for 2020. The money was given to the federal government by […]
The European Union planned to invest €820 million in the Nigerian digital ecosystem through its Gateway Initiative over the next three years. The EU Executive Vice President, Mrs. Margre Vestager, disclosed this in a statement issued by the spokesperson for the Minister of Communications and Digital Economy, Mrs. Uwa Suleiman, on Monday in Abuja. Vestager, […]
We have been inundated with calls from our customers that Dangote Sugar and Flour Mills have both suspended sales of Sugar, seeking to know if BUA will follow suit. We would like to reassure our customers that BUA is not joining the suspension of sales of sugar. Whilst the suspension of sales of Sugar by […]
BUA Cement Plc wishes to inform the Nigerian Exchange Limited (NGX) and its shareholders that the Board of Directors of the Company at its meeting held on 25th January 2022 duly considered and adopted the Unaudited Financial Statement of the Company for the Fourth Quarter ended 31st December 2021. The Unaudited financial statement will be […]
