After two days of decline, the Nigerian Stock Exchange rebounded slightly today, with market capitalization closing at N7.183 trillion and the All Share Index also looking upwards, ending at 22,524. Yesterday market capitalization was N7.15 trillion and on Monday it was N7.192 trillion, in contrast with the market position last Friday, when all looked so [...]
Professor Barth Nnaji, the Minister of Power, has disclosed that that the Power Holding Company of Nigeria, the monopolist power supplier in the country, was owing over N88.44 billion on gas supplies. Nnaji made the disclosure at a public lecture in Abuja, said a statement by the minister’s special adviser, Cdon Adinuba. The lecture was [...]
A lawmaker with the Lagos State House of Assembly, Gbolahan Yishawu, has urged the Central Bank of Nigeria (CBN) to address some security aspects of the newly introduced cashless policy and enlighten Nigerians on it. Yishawu stated this, while delivering a keynote address as the Special Guest of Honour at the CBN/Nigeria Computer Society (NCS) [...]
Frozen food sellers in Lagos on Tuesday appealed to the Federal Government to urgently address the problem of epileptic electricity supply to boost their businesses. The traders, who spoke to the News Agency of Nigeria (NAN), said that the incessant power outages had adversely affected their business operations. Mrs. Peace Ogbonna, a frozen food seller [...]
Shareholders of Nigerian Breweries Plc have approved the payment of a total dividend of N22.69 billion for the financial year. This translates to N3 per share against N2.40 paid in 2010. At the company’s 66th annual general meeting in Lagos, the company’s chairman, Kola Jamodu advised shareholders to embrace the e-dividend payment option to eliminate [...]
The U. S. Ambassador to Cote d’Ivoire, Mr Phillip Carter, said in Abidjan that West Africa’s food import bill will shoot up to a trillion dollars in 20 years as the economies in the region record fast growth. Speaking at the opening ceremony of a conference on removing trade barriers in West Africa, Carter noted [...]
European Union authorities announced Wednesday they have cleared a liquefied natural gas joint venture in Angola by BP, Chevron, Eni, Sonangol and Total. The European Commission gave its blessing having “found that the transaction would not raise competition concerns because of the joint venture’s moderate anticipated market share, the presence of a number of credible [...]
