Author: Olu Anisere

Gold price climbed to an all-time high of $3115 on Wednesday in the global commodities market amidst increase move into safe haven.

IMG Posts N1.6bn Profit for 2024 The Industrial and Medical Gases Nigeria (IMG) has recorded N1.622 billion profit for the financial year ended Dec. 31, 2024. This is a 90 per cent increase from N852.75 million recorded in 2023. The company declared this in a corporate disclosure through the Nigerian Exchange Ltd. on Tuesday. While its revenue rose by 38 per cent from N6.064 billion in 2023 to N8.376 billion in 2024, the company’s profit before income tax also grew by 96 per cent from N1.247 billion in 2023 to N2.442 billion in 2024. Its share capital remained the same…

How Nigeria Can Maximize $500m World Bank Loan- LCCI The Lagos Chamber of Commerce and Industry (LCCI) has outlined strategic approaches aimed at maximising the benefits of the $500 million loan by the World Bank to Nigeria while mitigating associated risks. The Director General, LCCI, Dr Chinyere Almona, made this known on Tuesday in Lagos in reaction to the approval of the loan by the World Bank to the country. A fresh $500 million dollars loan was approved to support the country’s Community Action for Resilience and Economic Stimulus Programme. According to Almona, the development comes at a crucial time…

AI key to Insurance Growth in Nigeria – AXA Mansard AXA Mansard Insurance says technology and innovation, through the adoption of Artificial Intelligence (AI), will transform Nigeria’s insurance landscape.Its Chief Distribution Officer, Jumoke Odunlami, in a statement on Tuesday in Lagos, advised insurers to embrace the improved use of AI to accelerate the growth and adoption of insurance in Nigeria. Odunlami said technology and Artificial Intelligence (AI) would play crucial roles in bridging the knowledge gap on insurance in Nigeria. She said technology would help get insurance into the hands of more Nigerians, and AI would help address some of…

Cadbury Nigeria Records N22bn Loss for 2024 Cadbury Nigeria has recorded a N22.2 billion loss for the 2024 financial year. This is a one per cent decrease from its 2023 loss of N22.4 billion. Cadbury Nigeria made this known in a corporate disclosure through the Nigerian Exchange Ltd. on Tuesday. The company’s revenue grew from N80.378 billion in 2023 to N129 billion in 2024, recording a 61 per cent increase. However, its gross profit grew marginally by five per cent to N18.227 billion from N17.337 billion. The company’s share capital increased by 21 per cent from N939 million in 2023…

Yield on US 10-Year Treasury Note Falls to 4.2% US 10-year Treasury note yield fell by six basis points to close behind 4.2% on Monday, trading near its four-week low, as investors sought safety on recession fears that follow escalating trade tensions. Investors have expressed concerns that U.S President Donald Trump tariffs threats against trading partners would trigger an unintended economic consequences, and global inflation. Key ratings agencies have started cutting global growth outlook with expectation of massive economic distortions as a result of trade war. Goldman also says it is lowering its 2025 Q4/Q4 real GDP growth forecast by…

Oil Prices Increase as U.S Threats Raise Supply Risks Oil prices increased in the global commodities market after US President Donald Trump threatened Russian oil buyers with additional tariffs over ceasefire efforts in Ukraine and warned of unprecedented bombing of Iran if it refused to agree to a nuclear deal. Brent crude, increased by around 0.69% trading at $73.22 per barrel, up from $72.76 at the previous session’s close. The US benchmark, West Texas Intermediate (WTI) rose by about 0.66%, settling at $69.80 per barrel, compared to its prior session close of $69.36. Trump threatened Iran Sunday with unprecedented bombing…

Mutual Benefit Assurance Soars to Highest Value in 52-Week In the equities market, Mutual Benefits Assurance Plc topped performers as investors ramped up the company shares throughout last week. The Assurance services company’s share price increased by about 57% due to volume, and consistent shares accumulation by shareholders. The price upticks was driven by investors sentiment, before earnings delay announcement. Data revealed that Mutual Benefit Assurance Plc gained more than half of its market value, climbing to N21 billion, its highest value in the last 52-week in Nigerian market. Trading data showed that its share price reached N1.05 per share…

eTranzact International Declares N12.5k Final Dividend eTranzact International has approved the payment of a final dividend of N12.5 per share to its shareholders, subject to withholding tax and shareholder approval. The company disclosed this in a corporate filing with the Nigerian Exchange Ltd. on Saturday. According to the disclosure, the dividend will be paid to shareholders whose names appear in the Register of Members as of the close of business on July 7. The statement reads: “A final dividend of 12.5 kobo per 50 kobo share, subject to appropriate withholding tax and approval, will be paid to shareholders whose names…

NAHCO to Pay N5.94 Final Dividend to Shareholders The Nigerian Aviation Handling Company says it will pay a final dividend of N5.94 per ordinary share to its shareholders for the 2024 financial year. The company declared this in a corporate disclosure through the Nigerian Exchange Ltd. The 2024 dividend, an increase from N2.54 dividend paid in the 2023 financial year, will be paid on Friday, May 9. The disclosure reads “A final dividend of N5.94 kobo per ordinary share, subject to appropriate withholding tax and approval, will be paid to shareholders whose names appear in the Register of Members as…