The Bauchi state government has signed a Memorandum of Understanding (MoU) with the Shandong Province of China to promote trade and investment, build industrial capacity, boost green energy to enhance low carbon as well as improve food security and fight poverty. Governor Bala Mohammed, who signed the agreement on behalf of the state, promised to deepen cooperation with Shandong province Read More
President Bola Ahmed Tinubu has lauded Indian investors for significant investment pledges amounting to nearly $14 billion committed during the Nigeria-India Presidential Roundtable and Conference in New Delhi, India. Speaking at bthe event Wednesday, Tinubu said: “We are ready to give you the best returns for investment possible, there’s nowhere else like our country. Nigeria offers the best returns for Read More
The Africa Network for Environment and Economic Justice (ANEEJ) has urged Houses of Assembly in Anambra, Bayelsa, Edo states and others lacking Social Protection Policies (SIP) to expedite the creation and implementation of such policies without delay. ANEEJ’s executive director, Rev. David Ugolor, who made the call at a media briefing in Benin City, the Edo state capital, advocated increased Read More
Every investor expects returns which might be viewed as revenue, net income, profit, dividends amongst others. Committing funds into investment comes with huge risks, and most times, the return on investment takes care of the expected and unexpected risks such investment brings. Real estate investments have its risks; however, it is important to know how the funds for investing in Read More
The Executive Vice Chairman (EVC) of the Nigerian Communications Commission (NCC), Prof. Umar Garba Danbatta, has officially announced that the investment profile in the nation’s telecommunications sector, comprising foreign direct investment (FDI) and local investment, has reached $75.6 billion as of 2021. Director, Public Affairs, Reuben Muoka, in a statement Wednesday in Abuja said Danbatta disclosed this at an interactive Read More
The Board Listings and Markets Committee of FMDQ Exchange has approved the quotation of MyCredit Investments Limited N2.50 billion Series 1 Commercial Paper (“CP”) under its N2.50 billion CP Issuance Programme on its platform. MyCredit Investments Limited is a digital consumer and small and medium-scale enterprises lender, and provider of digital financial services in Nigeria. The proceeds from this CP, Read More
The Nigeria Export Processing Zones Authority (NEPZA) on Monday revealed a total of 52 Free Trade Zones under its supervision with a total of an estimated 35 billion US dollars combined investment profile. The Managing Director /CEO of NEPZA, Prof Adesoji Adesugba during his 2020 to 2023 overview performance to Commerce and Industry Correspondent Association of Nigeria (CICAN) in Abuja Read More
The Governor Central Bank of Nigeria (CBN), Mr Godwin Emefiele has urged Nigeria judiciary members to ensure entrenchment of a fair and just legal system, which will help attract much-needed foreign investments to the country. Emefiele made this statement at the 2023 CBN’s Capacity Building Workshop on Banking and Financial Services Sector for Judicial Officers. He said such investments would Read More
Peru was stripped of hosting the men’s Under-17 World Cup on Monday because FIFA said the country was not ready to stage the tournament later this year with Golden Eaglets of Nigeria looking to be part of the fiesta after the upcoming African qualifiers. FIFA did not name a replacement host for the 24-team tournament scheduled to be played from Nov. 10-Dec. Read More
Nigerian Exchange Limited (NGX) is set to launch Non-Depository Receipts (NDR) in its efforts to further deepen the Nigerian capital market. The Divisional head, Capital Markets, NGX, Mr. Jude Chiemeka disclosed this in Lagos during a fireside chat themed ‘Investor sentiment on Nigeria: success and challenges’, at the 2023 Nigeria Risk Summit. Chiemeka said, “the NDR would grant the investing public Read More
The People’s Democratic Party (PDP) governorship candidate in Lagos state, Abdul-Azeez Olajide Adediran, aka JANDOR, has commiserated with victims of the fire incident at Akere Motor Spare parts market, Kirikiri Road, Olodi, Apapa in Ajeromi-Ifelodun local government area of Lagos state. The fire incident which occurred in the early hours of Wednesday razed down the market. There has been reports and Read More
Global investment in oil and gas went up 39 per cent to $499 billion in 2022. Analysts say, it is the highest since 2014, as well as a historic year-on-year (YoY) high. This was made known by a report of the International Energy Forum and S&P Global Commodity Insights. According to the report, higher costs majorly drove the increase in Read More
The Nigeria Investment Promotion Commission (NIPC) says it is developing a masterplan to attract more Foreign Direct Investments (FDIs) into the country. Hajiya Saratu Umar, Executive Secretary/Chief Executive Officer, NIPC, said this at a media briefing in Lagos. She said the commission would achieve the vision of transforming the country into a destination of choice for investors through a Nigerian Read More
The proximity of Northern Cross River state to the North-central and North-east zones of Nigeria cannot be underscored. It is a geographical reality that Cross River state has to take advantage of to enhance the socio-economic development of these zones in particular and the country in general. The North-central state of Benue shares a boundary with Obudu, Cross River state, Read More
The Nigerian economy will slump further in 2023 due to activities leading to the general elections. According to a Fitch Solutions Country Risk & Industry Research report, the economy would pick up in 2024, with growth predicted to rise to 3.3 per cent. Fitch Solutions estimates that economic growth in Nigeria slipped to a six-quarter low of 2.3 per cent Read More
Local equities on Wednesday sustained growth profile, gaining N32 billion as sell off recorded in shares of Geregu, FBNHoldings, United Bank for Africa, Zenith Bank and others boosted activities in the market. Market capitalisation of listed equities increased by 0.12 per cent to N26.376 trillion from N26.344 trillion reported the previous day. The NGX All Share Index also appreciated by 59.80 basis Read More
Transactions on the floor of Nigerian Exchange (NGX) on Monday closed in a positive note, gaining N93 billion as gains in shares of Nigerian Breweries, Cadbury lifted activities in the market. Market capitalisation of listed equities increased by N93 billion or 0.38 per cent to N24.326 trillion from N24.233 trillion reported the previous day. The NGX All Share Index also Read More
Volume of transactions on the floor of Nigerian Exchange on Monday declined by 85.37 per cent. The volume of activities went down by 602.654 million as Investors traded 103.266 million shares valued at N2.138 billion in 3206 deals against 705.92 million shares valued at N4.59 billion exchanged hands the previous day in 3472 deals. Market capitalisation of listed equities increased Read More
The Minister of Finance, Budget and National Planning, Mrs. Zainab Ahmed, has described the Nigeria Sovereign Investment Authority (NSIA) partner of choice for the federal government of Nigeria in the execution and successful delivery of major infrastructure projects and transformational initiatives. A press statement by Special Adviser, Media & Communications to the minister, minister, Yunusa Tanko Abdullahi, said the minister Read More
The Securities and Exchange Commission has said that it is ready to collaborate with relevant stakeholders in its drive to ensure that illegal fund managers are not allowed to thrive in the country. Deputy Director and Head External Relations Department of the SEC, Mr. Mohammed Bagudu Waziri stated this during a meeting with Crime Reporters Association of Nigeria in Lagos, Read More
The Federal Executive Council (FEC) Wednesday approved the National Sports Industry Policy (NSIP) 2022-2026 that would transform sports into a revenue-generating sector. Minister of Sports and Youth Development, Mr Sunday Dare, disclosed this while State House correspondents at the end of the weekly FEC meeting chaired by Vice President Yemi Osinbajo. He said with the approval, sports in the country Read More
Amid rising urgency for instruments to de-risk investment across Africa, the Africa Co-Guarantee Platform’s (CGP) six partners have affirmed commitments to better leverage guarantee and insurance products, resulting in more trade and investment across Africa. The partners pledged to extend direct transaction support for specific projects, including infrastructure development and optimizing balance sheets by sharing risk. They will develop new Read More
Citibank, Standard Chartered, and Stanbic IBTC led the list of banks with the highest dollar inflows into the Nigerian economy in the first half of the year, statistics released by the National Bureau of Statistics (NBS) has revealed. Citibank attracted $889.9 million into the Nigerian economy in the first half of 2022, accounting for 28.6 per cent of the total Read More
Despite good performance reported by quoted companies in the Nigerian Exchange, uncertainty in the global economy, low purchasing power, insecurity have continued to impact negatively on the stock market as investors lose N283 billion in the month of August. The NGX trading result for the month of August showed that the market capitalization of listed equities which opened at N27.163 Read More
A former board member of Eleganza Industries and philanthropist, Hajia Maimunat Olubando-Okoya, has said Nigerian youths are the future of the country hence the need to invest properly in their future. Olubando-Okoya, who is the founder of Alrasheed Almajeri Foundation that caters for the less privileged in partnership with other Non-Governmental Organisations (NGOs) disclosed this recently in an interview. She Read More
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