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Tag: Business

NGX Group reports N5.2bn after tax
Business

NGX shareholders gain over N2trn in five days

Alex Omenye In five trading days, from December 27, 2023, to January 3, 2024, the value of stocks listed on the NGX increased by around N2.063 trillion. This increase was accompanied by a 5.11% increase in the NGX All-Share Index. Starting on December 27 at 73,768.64 points, this increasing trend reached a closing value of […]

Aviation

Most punctual African airlines in 2023 – Report

Cirium’s yearly assessment of the world’s top global airlines for on-time performance has revealed that South Africa’s Safair and Kenya Airways were among the most punctual airlines in the Middle East and Africa region in 2023. AMBusiness reports that Safair ranked second on the list with an excellent on-time arrival percentage of 92.36%, while Kenya […]

S'African billionaire dethrones Dangote as Africa’s richest man
Business featured News

S’African billionaire dethrones Dangote as Africa’s richest man

Johann Rupert and family have emerged as the richest man in Africa, dislodging Aliko Dangote as the continent’s wealthiest man in a list released by Forbes Magazine. Nigerian billionaires; Rabiu Abdulsamad and Mike Adenuga have lost their spots in the billionaire rankings released by the financial magazine In the list, the Forbes Daily billionaires ranking […]

Amazon, OnlyFans founder express interest as TikTok sale deadline nears
News Tech

US state files appeal after court halts TikTok ban

Montana on Tuesday, said that it will be appealing a U.S. judge’s ruling from November, which had stopped the state’s ban on the use of the TikTok short-video sharing app. The state of Montana is appealing the decision to the Ninth Circuit U.S. Court of Appeals, according to a notification filed by Attorney General Austin […]

Manufacturers warn price hikes to persist without solutions
featured

2024 may not be positive, Nigerian manufacturers reveal

The Manufacturers Association of Nigeria, has stated that 2024 may not be a good year for the Nigerian manufacturing industry, at least not in the first half of the year. According to Arise News, the declaration was contained in MAN’s “Manufacturing Sector Outlook for 2024,” which was released on Tuesday by MAN’s Director General, Mr. […]

AG Mortgage completes first tranche of N2bn fundraising
Business

AG Mortgage completes first tranche of N2bn fundraising

A major primary mortgage institution licensed by the Central Bank of Nigeria, AG Mortgage Bank PLC, has announced that the first tranche of its N2 billion Tier 2 capital issuance has been completed. According to The PUNCH, this was accomplished through the use of its Special Purpose Vehicle, AG Funding SPV Limited. The bank statement revealed that […]

Transportation

NRC to begin night operations

The Nigeria Railway Corporation has finalized preparations to begin night operations in the second quarter of 2024. The News Agency of Nigeria reported that the NRC’s Managing Director, Fidet Okhiria, said this in an interview on Monday. “What is limiting us is the night operations, and that is not how trains should operate. The train is designed […]

Passengers lament high transport costs despite FG’s 50% cut
Business

Passengers lament high transport costs despite FG’s 50% cut

Despite the Federal Government’s 50% fare discount, travelers have expressed disappointment that the promised respite has yet to materialize, and transportation expenses remain high. The PUNCH reported that President Bola Tinubu announced the discount, which will be in effect from December 21 to January 4, 2024, in order to ease Nigerians’ suffering. The government collaborated […]

Inflation causes decline in private sector productivity, employment - PMI
Business

PMI rises to 52.7 in December – Report

The most recent Stanbic IBTC PMI survey has revealed that the business environment in Nigeria improved in December 2023, with the Purchasing Managers Index climbing to 52.7 from 48.0 in November. The PUNCH reported that despite the increase, the business forecast for the new year is the lowest it has been since 2014. The increase was the […]

Manufacturers warn price hikes to persist without solutions
Business

Manufacturers urge FG to clear $7bn debt

The Manufacturers Association of Nigeria has requested the Federal Government to resolve the present $7 billion Forex backlog. The PUNCH reported that MAN has stated that 2024 may not be a good year for manufacturers and that the first six months of the year will be difficult for industry players. The association’s Director-General announced this in […]

NAFDAC cuts licensing fees by 65%
Business

NAFDAC cuts licensing fees by 65%

The National Agency for Food and Drug Administration and Control reported that the processing fee for renewing registration for domestically manufactured items has been cut by 65% to N44,200. According to the News Agency of Nigeria, the agency’s Director-General, Mojisola Adeyeye, revealed the information in a statement published by NAFDAC media consultant, Olusayo Akintola, in […]

FBNH, GTCO join NGX banking index
Business

FBNH, GTCO join NGX banking index

The Nigerian Exchange Limited reviewed the indexes and added some banking stocks to the Banking Index, including FBN Holdings, Guaranty Trust Holding Company Plc, FCMB Group, and Stanbic IBTC Holdings Plc. The PUNCH reported that according to a corporate announcement made by the exchange on Tuesday, the equities of Jaiz Bank, Unity Bank, Wema Bank, […]

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