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Domestic transactions on NGX hit record ₦10.68trn in July

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Why Q1 2026 pension contributions dropped by 38% —

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Naira strengthens to ₦1,346.90/$ amid surge in FX activity

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DStv, GOtv users lament activation delays as EPL returns

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Xiaomi to launch electric car in South Africa
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Xiaomi’s revenue rises as electric vehicle sales soar

Chinese electronics giant Xiaomi reported a 30.5 per cent increase in third-quarter revenue, fueled by strong consumer demand for its first electric vehicle, the SU7 sedan. The company, traditionally known for its smartphones and tech gadgets, launched the car in March, entering China’s competitive electric vehicle market with a bold pricing strategy. The base model […]

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WTO decries inspection hike at Nigerian ports, urges reforms

The World Trade Organisation’s Trade Policy Review organ expressed concerns about Nigeria’s customs procedures, particularly the high rate of physical inspections at ports, urging the country to improve its practices for greater efficiency and cost-effectiveness. It also noted that the long-standing import bans on numerous agricultural products, along with high tariffs and additional levies, could […]

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Tencent rivals Amazon, Microsoft in cloud marketing

Chinese tech giant, Tencent is using its WeChat super-app ecosystem to differentiate itself from major global cloud service providers, according to Tencent Cloud CEO, Dowson Tong. He said that more clients are looking to develop their own super apps, with Tencent Cloud offering technology and expertise based on its experience building the WeChat ecosystem. Tong […]

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NACCIMA warns against unauthorised operations of NIBC-India in Nigeria

The Nigerian Association of Chambers of Commerce, Industry, Mines, and Agriculture has raised concerns with the Federal Government over the illegal operations of NIBC-India in Nigeria, citing the entity’s lack of proper registration and authorization. In a petition to the Minister of Foreign Affairs, Ambassador, Yusuf Tuggar, NACCIMA President, Dele Kelvin Oye Esq., called for […]

Samsung reports profit amid AI-driven chip demand
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Samsung shares rise by 7% amid $7bn buyback plan

Samsung Electronics’ stock on Monday saw a significant rise after the company announced a surprise buyback plan worth 10 trillion South Korean won ($7.19 billion) over the next year. The stock surged more than 7% in Seoul, following a 7.21% increase on Friday, fueled by news of a preliminary agreement with its largest workers union, […]

Transcorp Power emerges top NGX weekly gainer
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NGX proposes tougher rules for large-volume trades

The Nigerian Exchange Limited has proposed amendments to its Trading Licence Holders Rules (Part XIIIA) regarding block divestments and large-volume trades. The key change is lowering the threshold for a transaction to be classified as a block divestment from 30 per cent to 5 per cent of shares. Market stakeholders were invited to provide feedback […]

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FG pays $1.36bn to service debt

The Federal Government spent $1.36 billion to service debts owed to 12 international and multilateral creditors in the first half of 2024. This amount reflects a significant 216.07 per cent increase compared to the $431.23 million spent during the same period in 2023, as reported by the Debt Management Office. Findings show that the increase […]

Transcorp Power emerges top NGX weekly gainer
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Stock market turns bullish, investors gain N295bn

The Nigerian Exchange reversed its losing streak last week, gaining N295 billion despite weaker trading activities. The All-Share Index’s year-to-date performance improved to +30.69%, driven by strong buying interest in Flourmill (+10.00% WoW), Oando (+4.42% WoW), and GTCO (+2.75% WoW). The Exchange’s positive performance last week was attributed by analysts to sector rotation and portfolio […]

Nigeria Exchange in decline two weeks in a row
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Foreign inflow on NGX falls to N11bn

The latest Domestic & Foreign Portfolio Investment Report from the Nigerian Exchange Limited shows that foreign inflow into the market dropped to its lowest in 2024, hitting N11.26 billion in September. This marks a steady decline since May, which recorded the year’s highest inflow at N54.87 billion. Despite the decline, total foreign inflow from January […]

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Nigeria, India finalize key agreements to boost trade

President Bola Tinubu and India’s Prime Minister, Narendra Modi have directed their officials to finalize key trade agreements aimed at boosting economic cooperation. This was disclosed in a joint statement issued in Abuja at the end of Modi’s state visit. The leaders emphasized the importance of the Economic Cooperation Agreement, Double Taxation Avoidance Agreement, and […]

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FG to begin vehicle spare parts production

The Federal Government, through the National Automotive Design and Development Council, has announced plans to begin local manufacturing of 10 essential vehicle spare parts. It said this initiative is designed to reduce Nigeria’s reliance on spare parts imports, which currently cost the country around $1 billion annually. This was disclosed in a statement by the […]

Nigeria, others spent $1.4trn on debt servicing in 2023 - World Bank
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W’Bank uncovers $32m unaccounted funds in Nigeria’s water project

The World Bank has uncovered $32 million in unaccounted funds in a Nigerian water sector project, sparking concerns over possible embezzlement and mismanagement. The discrepancy was flagged by the Bank’s Integrity Vice Presidency following a forensic review, as outlined in the FY2024 Sanctions System Annual Report. The funds, earmarked for improving water infrastructure, were not […]

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