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THE NIGERIA EXTRACTIVE INDUSTRIES TRANSPARENCY INITIATIVE SAID THE EXACT VOLUME OF CRUDE OIL PRODUCED IN NIGERIA, ESPECIALLY AT THE DEEP OFFSHORE FIELDS, IS NOT KNOWN BY ANYONE. THE EXECUTIVE SECRETARY, NEITI, ORJI OGBONNAYA-ORJI,  SAID  THE EXACT AMOUNT OF CRUDE OIL PRODUCED IN NIGERIA HAD REMAINED UNKNOWN BECAUSE OF THE ABSENCE OF METERS AT WELLHEADS AND […]

THE NAIRA APPRECIATED BY N3 AGAINST THE US DOLLAR AT THE BLACK MARKET OF THE FOREIGN EXCHANGE (FOREX) MARKET ON MONDAY, TO CLOSE AT N482. THIS REPRESENTS A 0.62 PERCENT RECOVERY FROM N485 THE RATE IT HAS STOOD SINCE APRIL 1 ACCORDING TO DATA POSTED ON ABOKIFX. IT’S OVER A MONTH SINCE NAIRA CLOSED AT […]

NAIRA GAINED SLIGHTLY AGAINST THE U.S DOLLAR AT THE I&E WINDOW OF THE FOREIGN EXCHANGE MARKET ON TUESDAY, DATA POSTED ON THE FMDQ SECURITY EXCHANGE WHERE FOREX IS OFFICIALLY TRADED SHOWED. HOWEVER, THE DOMESTIC CURRENCY DEPRECIATED AT THE BLACK MARKET. NAIRA CLOSED AT N409.00 AT THE TRADING SESSION OF THE I&E WINDOW, THIS REPRESENTS N0.13 […]

  AFRICA’S LARGEST CEMENT PRODUCER DANGOTE CEMENT PLC HAS REMAINED A MAJOR CONTRIBUTOR TO THE ECONOMY WITH A TAX CHARGE OF N97 BILLION FOR THE FINANCIAL YEAR ENDED 31ST DECEMBER 2020, PROPOSING A DIVIDEND OF N16 PER SHARE. ACCORDING TO THE CEMENT GROUP’S AUDITED RESULTS RELEASED ON THE FLOOR OF THE NIGERIAN STOCK EXCHANGE (NSE), […]

INVESTORS IN THE NIGERIAN STOCK MARKET RECORDED A TOTAL LOSS OF N1.37TN IN FEBRUARY AS MARKET CAPITALISATION TUMBLED BELOW N21TN AMID PROFIT-TAKING. INVESTORS HAD GAINED OVER N1.13TN IN JANUARY AS THE MARKET CAPITALISATION CLOSED AT N22.19TN FROM N21.06TN AT THE START OF THE MONTH. THE NIGERIAN STOCK EXCHANGE ALL-SHARE INDEX CLOSED AT 39,799.89 BASIS POINTS […]

CONTRARY TO SPECULATIONS OF IMMINENT INCREASE IN THE PRICE OF PMS IN THE COUNTRY, THE NNPC HAS RULED OUT ANY INCREMENT IN THE EX-DEPOT PRICE OF PETROL IN MARCH. THE NIGERIAN NATIONAL PETROLEUM CORPORATION (NNPC) HAS ADVISED MOTORISTS TO STOP PANIC-BUYING OF PETROL. IT SAID IT HAS NO PLAN TO INCREASE THE EX-DEPOT PRICE IN […]

NIGERIA’S STOCK MARKET EXTENDED ITS DECLINE ON THURSDAY AS THE MARKET CAPITALISATION DROPPED BELOW N21TN. THE NIGERIAN STOCK EXCHANGE ALL-SHARE INDEX FELL BY 0.31 percent TO CLOSE AT 40,095.49 BASIS POINTS FROM 40,221.30 BASIS POINTS ON WEDNESDAY. THE MARKET CAPITALISATION OF EQUITIES DECLINED TO N20.98TN ON THURSDAY FROM N21.04BN ON WEDNESDAY. A TOTAL OF 326.04 […]

THE STOCK MARKET LAST WEEK SUFFERED ITS BIGGEST WEEKLY FALL IN EIGHT YEARS WITH INVESTORS LOSING N663 BILLION.  HOWEVER, INVESTMENT ANALYSTS OPINED THAT THE PERFORMANCE OF THE MARKET THIS WEEK WILL BE INFLUENCED BY THE OPPOSING FORCES OF UPTICK IN YIELDS IN THE FIXED INCOME MARKET AND 2020 CORPORATE EARNINGS RELEASES BY QUOTED COMPANIES. THE […]

REVENUE FROM FLIGHT TICKET SALES IN NIGERIA WAS PUT AT $151.09 MILLION IN THE FIRST FOUR MONTHS OF 2020, A 45 PERCENT DROP AS AGAINST $282.36 MILLION GENERATED IN THE SAME QUARTER OF 2019, IT HAS BEEN REVEALED. THE PRESIDENT OF NIGERIAN ASSOCIATION OF TRAVEL AGENCIES (NANTA), SUSAN AKPORIAYE, DISCLOSED THIS YESTERDAY, DURING A BRIEFING […]

MERCURY MARITIME CONCESSION COMPANY LIMITED (MMCC) AND PORT OF ANTWERP ARE COLLABORATING TO BUILD THE PROPOSED $2.9 BILLION ESCRAVOS SEAPORT INDUSTRIAL COMPLEX (ESIC), TO BOOST ECONOMIC AND NATIONAL DEVELOPMENT OF THE NATION, PARTICULARLY, DELTA STATE. SPEAKING AT A BRIEFING IN LAGOS AT THE SAILING CLUB EXHIBITION RACE 2021, THE CHAIRMAN OF MMCC, REAR ADMIRAL ANDREWS […]


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