Category: Economy
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FG set to support 1.7 million businesses, individuals — Minister
Amb. Mariam Katagum, the Minister of State for Industry, Trade and Investment, has stated the Federal Government’s resolve to provide financial support for 1.7 million business entities and individuals across the country in the next three months. The minister made this known at the virtual commissioning of the Fashion Cluster Shared Facility for Micro, Small…
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Sokoto govt. opens ‘One-Stop Shop’ for Ease of Doing Business
The Special Adviser to President Muhammadu Buhari on Ease of Doing Business (EODB), Dr Jumoke Oduwole, has advised Sokoto state government to enhance modalities for information dissemination regarding business potentialities across the state. Oduwole, made the suggestion at the commissioning of a ”One-Stop Shop” on EODB in Sokoto on Thursday. She commended Gov. Aminu Tambuwal…
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Infrastructure: Firm optimistic of Nigeria’s cement market
Lafarge Africa Plc on Thursday expressed optimism of the country’s cement market in spite of the COVID-19 pandemic. Mr Khaled El Dokani, the company’s Chief Executive Officer, said this at Lafarge Africa virtual ‘Facts behind the figures’, at the Nigerian Stock Exchange (NSE). He said that Nigeria’s cement market was promising considering its teeming population…
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Negative sentiment persists on NSE, market capitalisation down N8bn
Negative sentiment continued on the Nigerian Stock Exchange (NSE) on Thursday with the market capitalisation declining further by N8 billion. The market capitalisation lost N8 billion to close at N13.344 trillion against N13.352 trillion achieved on Wednesday. Also, the All-Share Index dipped 17.57 points or 0.07 per cent to close at 25,532.74 from 25,550.31 posted…
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Climate change: AfDB to double financing for Africa to $25bn by 2025
The African Development Bank (AfDB) has committed to double its climate finance for Africa to 25 billion dollars by 2025, with more than 50 per cent devoted to climate adaptation. The President of the bank, Dr Akinwumi Adesina, made this known at a virtual High-Level Launch of the Global Centre on Adaption (GCA) office in…
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Sell pressure: Stock market extends loss 0.19%
The Nigerian Stock Exchange (NSE) extended losing streak on Wednesday, with a loss of 0.19 per cent, amid sell pressure. The NSE All-Share Index shed 47.65 points or 0.19 per cent to close at 25,550.31 compared with 25,597.96 recorded on Tuesday. Similarly, the market capitalisation which opened at N13.354 trillion lost two billion naira to…
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Prices of grains drop by 25 per cent in Yobe
Prices of grains have decreased by about 25 per cent in markets in Damaturu, capital of Yobe. The News Agency of Nigeria (NAN) checks on Tuesday, revealed that bags of maize and guinea corn, sold at N20, 000 each two weeks ago, had dropped to N16,000 and N14,000 respectively. NAN, however, reports that bags of…
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NSE: Market capitalisation dips N4bn
Activities on the nation’s bourse closed on a downward trend on Tuesday, with the market capitalisation dropping by N4 billion. Specifically, the market capitalisation lost N4 billion to close at N13.354 trillion compared with N13.358 trillion achieved on Monday. In the same vein, the All-Share Index lost 7.63 points or 0.03 per cent to close…
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COVID-19: Financial expert urges CBN to support banks
A financial expert, Mr Okechukwu Unegbu, has urged the Central Bank of Nigeria (CBN) to increase support for commercial banks to address the impact of COVID-19 pandemic on the sector. Unegbu, a past President of Chattered Institute of Bankers of Nigeria (CIBN), made the call in an interview with News Agency of Nigeria (NAN) on…
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ABCON projects Naira stability
The Association of Bureau De Change Operators of Nigeria (ABCON) on Monday said that in spite of the marginal losses of the Naira to the dollar at the FX market, the naira would gradually come to remain stable. Alhaji Aminu Gwadabe, President, ABCON, gave the assurance on Monday while speaking to the News Agency of…