Author: Julius Alagbe

US Dollar Declines Ahead of S&P Global PMI, Other Data The US dollar fell against its major trading partners ahead of data releases that start with weekly jobless claims and the Chicago Fed’s national activity index for September. The S&P Global manufacturing and services flash purchasing managers’ index estimates for October are due to be released. A quick summary of foreign exchange activity heading into Thursday showed that USDEUR rose to 1.0799 from 1.0786 at the Wednesday US close and 1.0779 at the same time Wednesday morning. Eurozone flash manufacturing PMI improved modestly in October but still indicated contraction, while…

The Nigerian Exchange (NGX) index is tracking lower during intraday trading session as investors sell down interest in Aradel and GTCO stocks

Africa Prudential Grows profit by 54% in 9-Month African Prudential Plc grew profit by about 54% year on year at the end of the third quarter of financial year 2024 to N1.338 billion from N871.4 billion, details from its regulatory filing showed. In its unaudited financial statement submitted to the Nigerian Exchange, Africa Prudential said its net revenue declined by 51.23% year on year to N758.5 million, from N1.555 billion in the comparable period in 2023. Its costs of sales also moderated significantly year on year as activities level slowed in the period, down by 90% to N82.416 million from…

The interest rate offered to investors at the just concluded primary market auction (PMA) conducted by the Debt Management Office

FIFA Ranking: Super Eagles Move up by 3 Spots, now World 36th The Super Eagles of Nigeria has moved up by three spots to place world 36th in the October FIFA ranking. In the ranking table on the website of the world football governing body on Thursday, Nigeria garnered 1503.29 points within the period under review. The senior men’s national team defeated their Libyan counterparts in the first leg match of the Africa Cup of Nations qualifiers by a lone goal on Oct. 11, in Uyo. The movement also reflected positively on the team’s continental position to be ranked fourth…

Kaduna Eyes N150bn Monthly Revenue via Improved Tax Mr Mukhtar Ahmed, the Kaduna Commissioner for Planning and Budget Commission (PBC), says the state has the capacity to generate N150 billion revenues monthly through improved tax compliance. Ahmed said this on Wednesday at a stakeholders’ engagement organised by the Kaduna State Internal Revenue Service (KADIRS). The theme of the event is: “Unlocking Revenue Potential: A Collaborative Strategy for Sustainable Growth through a Centralised Payment Gateway in Kaduna State”. He said automation of collection system, inter-agency collaboration and vigorous sensitisation were critical to achieve desired targets. According to Ahmed, tax compliance is…

Nigerian Breweries loss after tax has expanded by more than 161% year on year to about N150 billion …

Oil prices rose on Thursday during early trading hours in the global commodities market amidst lingering demand and supply risks.

Food Prices Increase Further in Nigeria –Statistic Office The National Bureau of Statistics (NBS) reports that prices of essential food items, including beans, eggs, bread, rice, and tomatoes, experienced significant increases in September 2024. The NBS said this in its Selected Food Prices Watch report for September 2024 released in Abuja on Wednesday. The report said that the average price of 1kg of brown beans increased by 281.97 per cent from N716.97 recorded in September 2023 to N2,738.59 in September 2024. “On a month-on-month basis, 1kg of brown beans increased by 6.37 per cent in September from the N2,574.63 recorded…

Aradel Holdings market value fell by about 10%  to N562.90 in the equities market as investors’ appetite for the oil stock….