Author: Ogochi
NGX Rebounds, Gains N285bn as Earnings Worries Ease The Nigerian Exchange (NGX) rebounded on Friday on signs of easing third quarter earnings worries – equities portfolio value increased by about N285.48 billion. Most of the listed companies have released their earnings, though with mixed performance across sectorial indices. The Nigerian Exchange All-share index climbed by 0.29% on Friday despite a bucket of unimpressive earnings released by top banks, and the year-to-date return jumped to 49.74%. The positive price appreciation halted four successive sessions of decline, supported by renewed buying interest in recently moderated stocks with good fundamentals. Top choices among…
New Marine Policy: FG Targets Lower Logistics Costs, Trade Competitiveness – Oyetola The Federal Government has unveiled a new National Marine and Blue Economy policy, designed to cut logistics costs. The policy is also designed to boost trade competitiveness and attract private sector investment into the transport and maritime sectors. The Minister of Marine and Blue Economy, Mr Adegboyega Oyetola, disclosed this at the 2025 Transportation Correspondents Association of Nigeria (TCAN) Annual Summit on Wednesday in Lagos. Oyetola, represented by the Director, Maritime Services, Department of Marine & Blue Economy, Dr Mercy Ilori, explained that the policy would provide a…
NCC, Stakeholders Move to Build Indigenous Telecom Workforce The Federal Government, Nigerian Communications Commission (NCC) and telecom operators on Tuesday renewed calls for urgent collaboration to close the skill gaps threatening the future of Nigeria’s telecom industry. The call was made at the Stakeholders’ Consultative Forum on Skill Gaps in the Telecoms Value Chain held in Lagos on Tuesday The Executive Vice-Chairman of NCC, Dr Aminu Maida, who was represented by Mr Edoyemi Ogoh, Director, Technical Standards and Network Integrity, said the shortage of indigenous talent had become one of the most pressing challenges facing the sector. Maida said that…
Ethereum, Dogecoin, XRP Post Top Weekly Gains Ethereum, Dogecoin, and Ripple (XRP-USD) experienced strong price upticks in the cryptocurrency market. The cryptocurrencies delivered impressive weekly gains to investors and were still maintaining their price uptrends at the time of writing. According to data from coinmarketcap.com, Ethereum is trading at $4,238, up by 21.53% over the last seven trading sessions. ETHUSD has successfully broken the resistance and is set for a further uptrend. XRP is trading at $3.19, up by 10.27% in seven trading sessions as investors increased bets on the digital asset. The market anticipates XRPUSD will surge to $4…
Equity Investors Gain N1.78 Trillion in Nigerian Stock Market Equity investors gained about N1.78 trillion as buying momentum continued in the Nigerian Exchange (NGX) trading platform at the beginning of the week. The bargain hunting lifted stock market performance indicators to a new all-time high as buy side actors executed deals on bellwether stocks. The positive trend followed sustained buying interest in Dangote Cement, BUAFoods, Lasaco Assurance, Royal Exchange, UPDC, UAC of Nigeria, and 43 other stocks. The stock market capitalization rose by N1.78 trillion, or 1.99 per cent, closing at N91.15 trillion, compared to N89.372 trillion recorded last Friday.…
NNPC Posts N905bn June Profit, Remits N6.96tn in 5 Months to FG The Nigerian National Petroleum Company Limited (NNPC Ltd.) says it has remitted N6.96 trillion to the Federation Account within the first five months of 2025. The NNPC Monthly Report Summary for June, released on Monday, revealed that it posted a Profit After Tax (PAT) of N905 billion for June 2025, marking a decline from the N1.054 trillion reported in May. In spite of the drop in monthly profit, it confirmed a total statutory remittance of N6.961 trillion to the federation account from January to May 2025, up from…
Tax Reform: C’River Sets N10bn Monthly Revenue Target The Cross River State Internal Revenue Service (CRIRS) has disclosed plans to scale up the state’s monthly revenue generation to N10 billion. Mr Edwin Okon, the Chairman, CRIRS, said at a two-day Half-year Review Session in Calabar on Friday that the plan would take effect from January 2026. Okon said that the agency would leverage newly assented federal tax laws to achieve the target. He said that CRIRS had already recorded significant progress, with a 39.7 per cent increase in revenue compared to the same period in 2024. “Between January and June…
FG, AfDB, Others Inaugurate $263.8m infrastructure Project in Abia The African Development Bank, in partnership with the Islamic Development Bank, the federal government (FG) and Abia State, has inaugurated a 263.8 million dollars Integrated Infrastructure Development Project in Abia. The AfDB said this in a statement on Wednesday in Abuja. It said that the initiative was aimed at modernising urban infrastructure, enhancing mobility and promoting inclusive, climate-resilient development in the state. “The project addresses critical infrastructure gaps in urban transport, erosion control and waste management which have long constrained mobility, public health and economic productivity in the cities of Umuahia…
PIA Attracted $16bn Investments, N50.8trn Crude Revenue The House of Representatives says the enactment of the Petroleum Industry Act (PIA 2021) has yielded remarkable results with more than 16 billion dollars investment commitments and significant improvements in oil production. Mr Benjamin Kalu, Deputy Speaker, House of Representatives said this on Monday in Abuja at the 2025 General Counsel and Legal Advisers Forum for Midstream and Downstream Petroleum Companies in Nigeria. The forum, organised by the Midstream and Downstream Petroleum Regulatory Authority (NMDPRA) has its theme as ‘Advancing a Collaborative Compliance Culture in Nigeria’s Midstream and Downstream Petroleum Sectors’. Kalu said…
Nigeria Seeks 25% Boost in OPEC Quota by 2027 – NNPC Nigeria is set to push for a 25% increase in its oil production quota by 2027, citing growth in refinery capacity and improved production, according to the Nigerian National Petroleum Company Limited (NNPC). The state-owned oil company, led by Group Chief Executive Officer Bashir Ojulari, aims to raise its crude oil production quota from the current 1.5 million barrels per day (bpd) to 2 million bpd, as reported by Argus Media. Ojulari stated that Nigeria’s current production is slightly below the quota at around 1.4 million bpd, with condensate…