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Capital Market
The Nigerian equities marketended the week’s trading with a N48 billion loss for investors on Friday. This followed a dip in the share prices of stocks like Sunu Assurance, Eunisell, and Skyway Aviation amongst others on the trading floor. After five hours of trading at the capital market, the equity capitalisation fell to N64.30 trillion ...
Aviation
The Ministry of Aviation and Aerospace Development, during the week said it has no mandate to revive the botched Nigeria Air deal with Ethiopian Airline. The Permanent Secretary of the Ministry, Dr. Ibrahim Kana, made this clarification in a statement issued in Abuja. “Since my inaugural statement on Monday at the hand-over ceremony, I have ...
Business
…As Airtel, others spend over N2bn monthly on diesel …Operators want Govt to make example of vandals, decry increased losses despite Executive Order In the face of increase in operational costs and a growing need for enhanced telecom infrastructure, Nigeria’s telecommunications currently faces a risk of underinvestment and stagnated growth. Statistics by the National Bureau ...
Capital Market
The Securities and Exchange Commission (SEC) has announced plans to enhance the rules and regulations surrounding borrowing for both government and businesses. In a statement from the SEC, the Director-General of the SEC, Dr. Emomotimi Agama noted the importance of ensuring that borrowing practices are sustainable for various levels of government, including local and state ...
Business
The Nigerian government has secured the approval of $254.76 million loan from China Development Bank (CDB) to fund the construction of 203 kilometers Kano-Kaduna railway project. Announcing the approval of the loan in a statement recently, the bank noted that the project, once completed, will provide direct rail connectivity between Kano and the country’s capital ...
Capital Market
The Nigerian equities market bounced back from the first loss in 2025 with a gain of N507 billion for investors at the close of trading on Wednesday. This followed a surge in the share prices of stocks like Transcorp, MTN Nigeria, and Honey Flour, amongst others on the trading floor. After five hours of trading ...
News
… NDLEA chairman, Marwa visits agency …Seeks agency’s inclusion into Deep Blue Project. The Nigerian Maritime Administration and Safety Agency (NIMASA) has reaffirmed its commitment to supporting the National Drug Law Enforcement Agency (NDLEA) in the fight against drug abuse and trafficking within Nigeria’s maritime domain. This was emphasized during a courtesy visit by the ...
Maritime
...Declare ‘Our Ocean, Our Obligation, Our Opportunity’ as theme 2025 seafarers day The International Maritime Organisation (IMO) Secretary-General, Arsenio Dominguez, has unveiled key items on the IMO’s 2025 agenda, focusing on seafarer welfare, maritime security, and decarbonisation. His statement comes as Nigeria ramps up its campaign for a coveted seat on the IMO Council, aiming ...
Capital Market
Guaranty Trust Holding Company Plc (“GTCO Plc” or the “Group”) (NGX: GTCO) is pleased to announce the successful completion of the first tranche of its equity capital raise programme, following the completion of the capital verification exercise conducted by the Central Bank of Nigeria (CBN) and the approval of the Basis of Allotment of the ...
Energy
Ikeja Electric Plc (IE), Nigeria’s leading electricity distribution company, has raised the alarm over the rising incidence of vandalism targeting its infrastructure. The company also announced the arrest of two individuals allegedly involved in a recent act of sabotage, underscoring the increasing threat to its operations and service delivery. In a statement signed by its ...
Energy
...As customers received N207m as credit adjustments for as credit adjustments for over billing The Nigerian Electricity Regulatory Commission (NERC) has reported that metering, billing, and service interruptions accounted for 70.28 percent of customer complaints received across all power distribution companies (DisCos) in the third quarter (Q3) of 2024. According to NERC’s latest quarterly report, ...
Business
Guaranty Trust Holding Company Plc (“GTCO Plc” or the “Group”) (NGX: GTCO) is pleased to announce the successful completion of the first tranche of its equity capital raise programme, following the completion of the capital verification exercise conducted by the Central Bank of Nigeria (CBN) and the approval of the Basis of Allotment of the ...
Energy
...As Aba DisCo announces over 50% increase in electricity tariffs As the new year begins, electricity consumers across Nigeria in Lagos and Ogun state are reacting to the recent transfer of many users by Ikeja Electric, Ibadan Electricity Distribution Company (IBEDC), and other electricity distribution companies (DisCos) to Band A, the tariff category associated with ...
Business
The Tony Elumelu Foundation, TEF, Africa’s leading champion of entrepreneurship, has announced applications for its 2025 Entrepreneurship Programmes. TEF in a statement urged all aspiring and existing entrepreneurs from across Africa to apply for a chance to receive world-class training, expert mentoring and non-refundable seed capital funding to scale their businesses. “The Entrepreneurship Programme is ...
Inside Lagos
...As Reps begins 2025 Budget defence Tuesday The Lagos State House of Assembly on Monday approved a total sum of N3,366,815,224,144 as the total budget of the state for 2025. The approval followed the presentation of a report on the budget by the chairman of the joint committee on appropriation and finance, Hon. Sa’ad Olumoh, ...
News
...Bills will reshape Nigeria’s tax landscape, enhance economic opportunities In response to the Nigerian Labour Congress’ (NLC) request that the Federal Government withdraw the controversial tax bills from the National Assembly, the federal government has outlined its proposed Tax Reform Bills, emphasising their potential to significantly enhance the welfare of workers across the country. The ...
Energy
The Nigerian National Petroleum Company (NNPC) Ltd has extended an invitation to former President Olusegun Obasanjo to embark on a tour of the rehabilitated Port Harcourt Refinery, urging him to witness firsthand the progress made under its new management. This development comes as a response to Obasanjo's recent interview with Channels Television, where he cast ...
Aviation
The Chief Operating Officer of Ibom Air, George Uriesi, has stressed that aircraft utilisation is key to achieving profitability and operational excellence, particularly in Nigeria’s challenging aviation landscape. He explained that efficient aircraft utilisation is essential for maintaining financial viability while allowing airlines to provide consistent and reliable services to passengers. This operational approach is ...
Aviation
The Nigeria Civil Aviation Authority (NCAA) has pledged to continue to protect the rights of passengers and airline operators. The Acting Director-General of NCAA, Capt. Chris Najomo also said actions taken by the regulatory body have led to safer skies and conformity with regulations by airline operators and other stakeholders. He also hinted that the ...
Aviation
…Targets N300bn revenue by 2029 The Nigerian Aviation Handling Company PLC has announced the appointment of Olumuyiwa Olumekun as GMD/CEO, effective January 1, 2025, following the retirement of Mr. Indranil Gupta. Gupta’s tenure as the company’s GMD/CEO concluded on December 31, 2024, marking the end of an era that saw significant growth under his leadership. ...
