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Tag: Business

FCMB raises ₦147.5bn in oversubscribed public offer
Business

FCMB Capital Markets receives award for corporate bonds

The Nigerian Exchange Limited has named FCMB Capital Markets Limited, an affiliate of FCMB Group Plc’s Investment Banking division, the ‘Issuing House with the Highest Number of Listed Debt Issuances’, popularly known as Corporate Bonds. The PUNCH reported that the prize was presented to the company during the annual NGX Made of Africa Awards, which were […]

Nestle, others cost equity market 51bn loss
Business

Higher private sector engagement will boost equity market – Operators

Some capital market participants believe that the 2024 Appropriation Bill’s substantial dependence on the private sector for development projects will fuel a bullish run in the stock market. According to The PUNCH, this was revealed in exclusive interviews as stakeholders make predictions for the coming year. Analysts’ Data Services and Resources, a data and research firm, […]

Bill for tax crimes commission passes second reading
Business

Delta fixes annual tax returns deadline for March

Delta State employers and self-employed persons have been allowed until January 31, and March 31, 2024, respectively, to voluntarily file their yearly tax returns for the year 2023 in accordance with the Personal Income Tax Act of 2004, as amended. According to The PUNCH, this was said in a statement published on Monday by the Executive […]

Open Visa Index ranks top 2023 performers
News

Open Visa Index ranks top 2023 performers

African Visa Openness Index has ranked Benin, The Gambia, Rwanda, Seychelles, and Nigeria as the top five performers for 2023. Based on the Africa Visa Openness Index, the countries continue to be a representation of transparency and cooperation in the evolving African cooperation scene. Over the course of 2016, the average score of the top […]

Over 160,000 benefited from Tinubu's transport subsidy - Alake
Transportation

Over 160,000 benefited from Tinubu’s transport subsidy – Alake

The Chairman of the Presidential Committee on the Implementation of President Bola Ahmed Tinubu’s End of Year Transportation Subsidy Program, Mr. Dele Alake, has revealed that over 160,000 people had benefited from the program, which expires on January 4, 2024. The Minister of Solid Mineral Development, Mr. Dele Alake, revealed this today in a post on his official […]

Nigerian startups owe $415m 10-year debt – Report
featured News Tech

Nigerian startups owe $415m 10-year debt – Report

Briter Bridges, a research and market intelligence company which focuses on developing nations, has stated that approximately $415 million has been borrowed by Nigerian digital entrepreneurs over the past ten years. According to the report “Debt Financing in Africa’s Innovative Ecosystem,” between 2014 and 2023, African startups as a whole borrowed a total of $2.1 […]

Economic hardship: Senator advises Tinubu to hold national stakeholders meeting
Business

Tinubu promises improvement in power, oil sectors in 2024

President Bola Ahmed Tinubu has pledged to improve the power and oil sectors by 2024. He claimed that the continuing work in the power and oil sectors would be delivered soon during his New Year’s Day address to Nigerians on January 1, 2024. According to him, his administration has been trying to improve service delivery […]

Vitafoam shareholders okay N1.95m dividend
Business

Vitafoam breaks five-year record with 2023 N52bn revenue

Vitafoam Nigeria Plc has recorded the most money from its operations this year, than in the last five years. The PUNCH reported that according to the Consolidated and Separate Financial Statements for the year ended 30 September 2023, which were released on the Nigerian Exchange Limited, the foam producer earned N52.986 billion in revenue, a […]

Nipco launches autogas dispensing station in Abuja
Oil and Gas

Nipco launches autogas dispensing station in Abuja

Nipco Gas Limited has announced the opening of an auto Compressed Natural Gas station in Kubwa, Abuja, which will supply affordable and ecologically friendly transportation fuel. The PUNCH reported that the station began operations over the weekend, according to the company, and it is an affirmation of the company’s desire to ensure widespread availability of car […]

Transcorp Hotels becomes first Nigerian firm to pass N1tn market cap
Business

Transcorp Hotel, tech firms record highest returns

Transcorp Hotels Plc provided investors with a higher return on investment in terms of capital gain in 2023 when compared to other companies listed on the Nigerian Exchange Limited. According to The PUNCH, the hospitality/tourism industry began the year at N6.25 per unit and completed the year at N70.18 per share. This amounted to a […]

FDI drops $471m in five years - NBS
Business

FDI drops $471m in five years – NBS

Foreign direct investments into Nigeria have decreased by $470.8 million over the last five years. This followed analysis of various National Bureau of Statistics Capital Importation reports. According to Investopedia, FDI is an investment in a foreign firm or project made by a foreign investor, company, or government. The NBS reported on Friday in its […]

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