Author: Marketforces Africa

Brent price stayed above $90 per barrel on Monday as crude oil prices declined as a result of a stronger USD

Tax Income to Boost Nigeria’s Fiscal Strength – Analysts Amidst uncertainties, analysts said they expect tax income to boost the Federal Government of Nigeria’s (FGN) fiscal strength in the current year. Key challenges facing the economy has been weak fiscal performance that has continue to cause budget deficit extension annually. Though large part of government earnings come from hydrocarbon sales, the economy remains well diversified and recently, non-oil revenue has started bucking the trend. Low revenue generation has forced government to embark on borrowings, a development that result to neck breaking debt load for an economy underperforming emerging markets peers.…

How Much Are Dangote’s Three Listed Companies Worth? Unlike many Nigerian billionaires who prefer to keep their businesses outside the stock market, Aliko Dangote has proven to be relatively different. According to business data from its site, Dangote estimated the group’s earnings at $4.3 billion, which is equal to N3.225 trillion in the local currency. The group has 15 subsidiaries, and three of them are listed on the Nigerian Exchange. It is not clear if Dangote Refinery will be listed when fully operational, but unconfirmed sources suggest that there is a plan awaiting execution to list it on the London Stock…

Nigerian, Angolan Currencies Worst Performing in Africa Top oil producers in Africa, surprisingly, have the worst record of currency performance year to date, according to a report which showed naira has officially lost more than 40% in 2023. Coming closer to the worst exchange rate condition is Angola, whose local currency has lost about 39% from the beginning of the year to date despite higher crude oil prices in the global market. In its update, CardinalStone Research said low foreign currency liquidity continues to weaken African currencies. Down the year, the Egyptian pound has lost 20% of its weight despite…

At the World Economic Forum Annual Meeting 2011 in Davos, Switzerland, Aliko Dangote, President

The Association of Bureaux De Change Operators of Nigeria (ABCON) has urged the CBN to democratise

The worsening price level is far from receding, Nigeria’s headline inflation rate is expected to run amok

Fitch Ratings has affirmed FBN Holdings Plc’s (FBNH) and First Bank of Nigeria Ltd.’s (FBN) Ratings

Doomsday lay ahead for FX speculators in the market as the Naira made a surprise rebound

As a result of sustained rallies, the Nigerian Exchange (NGX) market capitalisation rose to N37.30 trillion