Author: Julius Alagbe

The summer transfer window has seen a record 11,000 players around the world join new clubs in men’s football, with $6.46 billion spent, the ruling body FIFA

Fuel to Hit Stations in 48hrs –Dangote Aliko Dangote, on Tuesday, spoke on pricing for petrol produced at his 650,000 barrels per day facility. The refinery owner said as soon as his company finalizes modalities with the Nigerian National Petroleum Company Limited (NNPCL), the product will hit the market. “Our PMS (Premium Motor Spirit) can be in filling stations within the next 48 hours, depending on NNPCL,” he said. Asked to speak on the pricing of petrol from his refinery, Dangote said, “It is an arrangement which is designed and approved by the Federal Executive Council led by His Excellency,…

Oil Prices Diverge Amidst Demand, Supply Imbalance Oil prices are trading on a mixed note in the market over concerns surrounding global demand and worsening supply disruptions in Libya. China, the largest crude oil consumer, has also seen not enough demand as a result of economic pressures. China’s purchasing manager index (PMI) fell to a six-month low in August, fueling concerns over the top crude importer’s demand outlook. The country’s PMI decreased by 0.3 points to 49.1 in August 2024 as the economic activity in the manufacturing industry in China continued its contraction the previous 3 months in August. Meanwhile,…

The Nigeria Civil Aviation Authority (NCAA) has explained why Nigeria lost its Category 1 Status that disqualified Nigerian airlines to fly into U.S. as

Oando Hits N1trn in Market Value as Group Addresses OVH Issue Oando Plc has joined the big players on the Nigerian Exchange with more than N1 trillion in market valuation. The energy company has seen successive price surges in the equities market as its acquisition tastes continue to attract buying interest.  According to data from the Nigerian Exchange, the energy company share price rose to N84.55 on Monday from its opening price of N76.9, gaining 9.95% on the day, The price surge increased its market value to N1.051 trillion, which is the indigenous energy company’s all-time high (ATH) on the…

UBA Rises by 6.5% on Huge Trade Volume Ahead of Earnings UBA Plc gained traction on the floor of the Nigerian Exchange (NGX) following significant share volume that exchanged hands in the local bourse. The huge buying interest was driven by improved sentiment in the local bourse. Investors are expecting interim dividend payments by the banking group after the release of earnings results in couple of days, weeks. According to data from the domestic bourse, UBA became expensive after its popularity among investors pushed the Pan African lender share price higher by 6.54% to N24.45 from N22.95. Analysts raised UBA’s…

Nigerian Bond Yield Falls Below 19% as Market Rallies The benchmark yield on the Federal Government of Nigeria (FGN) bond dipped below 19% in the secondary market due to increased demand by local investors following a better economic performance in the second quarter of the year. Data showed that Nigeria’s gross domestic profit rose by 3.19% at the same time when the nation experience first disinflation. Economic reform would put Nigeria on a map for growth, analysts said, noting that negative naira fluctuation remains the elephant in the room. Consumer price index has been projected, by market consensus, to decline…

Interbank rates rose significantly on Monday in the money marker as liquidity level in the financial system reduce sharply.

The Nigerian local currency, the naira, appreciated by 80 basis points against the US dollar in the foreign exchange (FX) market on Monday on the back of

The Yobe Government says it has spent N15 billion on procurement of farm inputs and machinery to enhance food security and economic growth.