Business

Nigerian Stock Exchange closed trading on a positive note Friday as all share index rose 1.66%. Market capitalization at the close of trading was N12,725,510,339,197.47. After trading today, All Share Index was 36,920.56 up 1.66%. Market capitalization closed at N12.7 trillion and volume of shares traded was 236,619,367.00 units in 3,803.00 deals. A value of N4,807,693,729.28 Stocks were traded on the floor. …

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The people behind one of the fastest growing off-grid solar companies in Africa have said that the mobile solar revolution will transform Nigeria’s small-business economy. Access to power is a major constraint for Nigeria’s SMEs, and thousands are now using the Lumos Mobile Electricity service (www.Lumos-Global.com), which provides customers with reliable, clean, affordable solar electricity. Lumos Nigeria CEO Yuri Tsitrinbaum …

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The Nigerian National Petroleum Corporation (NNPC) yesterday announced that it has saved the nation a minimum of $3billion yearly from the reduction in the cost of crude oil production. According to the corporation’s statement, it has driven down the cost of crude oil production from $78 per barrel as at August 2015 to $23 per barrel, representing 70.5 per cent …

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A total of N400bn was received in bribes by public officials within a period of one year, the National Bureau of Statistics said on Wednesday. The NBS stated this in its National Corruption Report, adding that 32.3 per cent of Nigerian adults who had contact with public officials between June 2015 and May 2016 had to pay bribes to the …

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Determined to further grow and deepen the capital market in the domestic economy, the Securities and Exchange Commission (SEC) has urged existing and prospective shareholders in the market to embrace E-Annual reporting system. Director General of the apex regulator in the capital Mr. Mounir Gwarzo made the appeal during the post Capital Market Committee (CMC) briefing with the financial journalist …

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Transactions on the floor of Nigerian Stock Exchange (NSE) practically succumbed to profit taking pressure on Tuesday as key market indicators continued to decrease as observed on Monday. Specifically, the market went down by 2.25 percent, thereby bringing the year to date return to 38.04 percent. The All Share Index closed at 37,096.60 against the previous close of 37,950.96 while …

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Pension funds which currently stood at N6.5 trillion is faced with a major threat of depletion due to the multiple Bills sponsored by some persons and bodies at the National Assembly if becomes law. These were the words of the pension regulator, The National Pension Commission (PenCom) and the umbrella body of pension operators, Pension Fund Operators Association of Nigeria …

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Trading on the floor of Nigerian Stock Exchange (NSE) could not sustain the momentum it gained last week Friday, as the key market indicators slow down, thereby dropping by 0.65 percent on Monday August 14, 2017, bringing the year to date return to 41.21 percent. The All Share Index closed at 37,950.96 against the previous close of 38,198.60 while Market …

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The Director General of the Debt Management Office (DMO), Ms. Patience Oniha, at the weekend in Lagos s solicited the support of the media in informing Nigerians on the management of the country’s debt stock and government’s drive towards infrastructural development. Speaking during a meeting with Editors in Lagos, Oniha, said DMO will continue to be in the forefront of …

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Nigeria has moved closer to ending the chronic issues of malnutrition especially in children as the Minister of Trade and Investment, Okechukwu Enelamah launched the Strengthening African Processors of Fortified Foods project in Lagos. The $10m four-year project is sponsored by the Bill & Melinda Gates Foundation (BMGF) and is designed to support local food processors produce more fortified foods …

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