Local equities market sustains growth gains N317bn

January 26, 2024 Admin II 0

The local equities market edged higher on Thursday, gaining N317 billion. Market capitalisation of listed equities increased by 0.57 per cent to N52.900 trillion from N55.583 trillion reported the previous day. The NGX All Share Index also appreciated by 578.82 basis points to 102149.93 points from 101571.11 points recorded on Wednesday. Buying interest in Seplat Energy, Geregu Power, GTCO Plc, Read More

Ned Nwoko wants FG to rejig import policies for economic growth

December 27, 2023 Admin III 0

Senator representing Delta North Senatorial District, Ned Nwoko has called on the federal government to be strategic in the implementation of its import policies in order to bolster local production and drive economic growth. Nwoko, in an interview with the News Agency of Nigeria (NAN) Monday in Abuja, noted that embracing lessons from countries like South Korea and India, whose Read More

Subsidy removal earnings as pathway to nation’s economic growth

November 27, 2023 Admin III 0

Recently the federal government announced that it saves more than N1 trillion from subsidy removal monthly. The announcement has raised a lot of questions regarding on which account the money is saved and to what use it has been put. In this report AMAKA IFEAKANDU looks at the subsidy removal earnings and the sectors of the economy the fund is Read More

NGO decries child malnutrition, seeks more funding on nutrition programme 

November 23, 2023 John Shiaondo 0

The Civil Society – Scaling Up Nutrition in Nigeria (CS-SUNN) in collaboration with UNICEF has decried the rate of malnutrition in children and called on state governments to extend maternity leave from three to six months in order to properly breast feed their newborn. The non-governmental organisation also called for increase in budgetary allocation to take care of nutrition, saying Read More

Sit-at-home impeding growth, development of Southeast region – Kalu

November 12, 2023 Joshua Egbodo 0

Deputy Speaker of the House of Representatives, Hon. Benjamin Okezie Kalu has again, lamented that the “sit-at-home’’ order by the Indigenous People of Biafra (IPOB), and it is impeding the growth and development of the Southeast region. Kalu stated this in Abuja when he received a delegation from Aba Creatives Collective, organisers of Aba Fashion Show, who paid him a Read More

Zenith Bank records 114% growth, rakes in N1.33trn in Q3 2023

November 1, 2023 Benjamin Umuteme 0

Zenith Bank Plc has announced its unaudited results for the third quarter ended 30 September 2023, recording a remarkable triple-digit growth of 114% from N620.6 billion reported in Q3 2022 to N1.33 trillion in Q3 2023. According to the bank, the performance demonstrates the Group’s resilience and strong market share despite a very challenging macroeconomic environment. According to the bank’s Read More

Inspired PMI Q2 economic growth may be tainted by reforms in H2’23 – United Capital

August 30, 2023 Blessing Anaro 0

The strong economic growth recorded in the second quarter of 2023 on the back of robust Purchasing Managers’ Index (PMI) may not be sustained as a silt of the soaring consumer prices occasioned by President Bola Ahmed Tinubu’s economic reforms. The second quarter of 2023 showed stronger growth as the PMI returned to expansionary territory in April, indicating a recovery Read More

Partnerships key to airline growth, NCAA DG tells operators

August 3, 2023 Admin III 0

The Director-General, Civil Aviation (DGCA) Captain Musa Nuhu has said cooperation and alliances among airlines remain the best option in order for them to effectively tap into the huge market opportunity in the industry. He said cooperative behaviour and alliances among airlines has become inevitable for Nigerian airlines as it is the prevalent order of aviation businesses in other climes. Read More

Women push sector growth on gender equality, competitiveness

June 23, 2023 David Agba 0

To achieve the required growth in insurance industry, women in insurance have canvassed for right of place in leadership positions based on gender equality and competitiveness. The Professional Insurance Ladies Association (PILA) now marking its 50th anniversary in the industry says women occupying just nine percent of chief executive officer’s position in the industry was very low. They believe that Read More

Equity market continues growth, gains N992bn

June 14, 2023 Amaka Ifeakandu 0

The nation’s equity market on Wednesday remained on positive direction gaining N992 billion following gains recorded by medium and large stocks. Market capitalisation of listed equities increased by N3.12 per cento N32.662 trillion from N31.670 trillion reported the previous day. The NGX All Share Index also appreciated by 1821.55 basis points to 59985.10 points from 58173.55 points reported the previous Read More

Domestic equity and its growth trajectory in last five months

June 14, 2023 Admin III 0

The nation’s equity market in the last five months has recorded positive growth,despite slow down in the economic activities due to scarcity of fund, insecurity, political issues experiencing in the country. AMAKA IFEAKANDU looks at the factors contributed to the growth of the market in the last five months of 2023 Market performance The nation’s equity market has recorded good Read More

Imperative of effective land redistribution for sustainable rural/urban growth

The ever-increasing human desire to satisfy their growing needs have unarguably made way for inter-dependent relationship to exist between them and their natural environment. Land, as an essential component of the environment, is perceived as a free gift of nature and considered for its vital in human survival. The numerous functions played by land as a factor of production (source Read More

Equity sustains growth, gains N14bn

May 10, 2023 Amaka Ifeakandu 0

Trading activities on the floor of Nigerian Exchange on Tuesday sustained bullish trend, gaining N14 billion Market capitalisation of listed equities appreciated by 0.05 per cent to N28.643 trillion from N28.629 trillion reported the previous day. The NGX All Share Index also increased by 25.89 basis points to 52605.41 points from 52579.52 traded on Monday. An analysis of the investment Read More

Oyo’s economy growing through agribusiness – Akande

March 19, 2023 Admin III 0

Oyo State Agribusiness Development Agency (OYSADA) is working assiduously towards turning around agribusiness in the state. In an interview with BAYO AGBOOLA, the director general of the agency who also doubles as Governor Seyi Makinde’s senior special assistant on Agribusiness, Dr Debo Akande, says efforts are on to expand  the economy of the state through agriculture.  How can you assess Read More

Stock market enjoys growth, despite election musings

March 1, 2023 Amaka Ifeakandu 0

The domestic equity on Tuesday sustained growth profile, gaining N260 billion despite the problem of election irregularities experiencing in the country. Market capitalization of listed equities increased by 0.86 per cent to N30.400 trillion from N30.140 trillion reported the previous day The NGX All Share Index also appreciated by 477.84 basis points to 55806.27 points from 55328.42 points reported on Read More

Brain drain, ghost doctors and the misfortune of Nigeria’s healthcare

February 27, 2023 Ibrahim Ejuailo D. 0

The World Health Organisation (WHO) prescription states the acceptable ratio of physician to patients is a doctor to a thousand population. However, this ratio remains a far cry from what is obtainable in many parts of the world, especially in the developing world. Nigeria’s healthcare system has been plagued by brain drain which translates into very poor doctor-patients ratio. Recently, Read More

Ebonyi shopping mall begins business activities, employs 300 workers

December 5, 2022 Admin III 0

By Amarachukwu Egwu-Agha, Abakaliki The uutra-modern shopping mall newly constructed by the Ebonyi State government has been opened for business. The recently opened mall has reportedly generated 300 jobs for youths in the state with investors operating in it. Manager director of 3rd Retail Africa, Eze Igwe, disclosed this to journalists during a press briefing at the mall on Monday. 3rd Retail Read More

2023: 200 support groups pledge 10m votes for Tinubu

November 30, 2022 Donald Iorchir 0

Two hundred support groups have promised to rake in 10 million votes for the presidential candidate of the All Progressives Congress (APC), Bola Ahmed Tinubu, in the 2023 poll. Working under the aegis of Coalition of Support Groups for Asiwaju Shettima (COSGAS), the group claimed that already 13.5 million people had been captured in their database.  The National President and Read More

APCON to sanction members over publication of ‘injurious’ information

November 30, 2022 Paul Okah 0

The Director General of the Advertising Practitioners Council of Nigeria (APCON), Dr Olalekan Fadolapo, has said the council will from December 5 commence enforcement of sanctions against members that permit the publication of harmful and injurious information to the public. Addressing journalists Wednesday in Abuja, during the National Advertising Conference, Fadolapo said the council is repositioning in order to combat Read More

Nigeria’s GDP grows 2.26% in Q3 2022

November 25, 2022 Benjamin Umuteme 0

Nigeria’s Gross Domestic Product (GDP) grew by 2.25% (year-on-year) in real terms in the third quarter of 2022.  In its Gross Domestic Product Q3 2022 report, the National Bureau of Statistics (NBS) stated that growth rate declined from 4.03% in the third quarter of 2021.  According to NBS,  reduction in growth is attributable to the base effects of the recession Read More

Seplat Energy grows PBT by 197.8% to N34.7bn

Seplat Energy Plc has released its unaudited result for the three months ended March 31, 2022, recording profit before tax of N34.7 billion. The result of the company listed on both the Nigerian Exchange and London Stock recorded an increase of 197.8 per cent in profit compared with N10.6 billion recorded the same period of 2021. The company also generated Read More

Fidelity grows PBT by 35.7% to N38.1bn for FY 2021

April 4, 2022 Blessing Anaro 0

Leading financial institution, Fidelity Bank Plc has recorded 35.7% growth in Profit Before Tax for its 2021 financial year to close the year at N38.1bn according to the bank’s recently issued financial result. Analysis of the results indicates that the bank grew Gross Earnings by 21.6 per cent Year-on-Year (YoY) (23.2 per cent Quarter-on-Quarter ( QoQ)) to N250.8 billion driven Read More