Author: Marketforces Africa

Lagos Accounts for 25% of Nigerian Economy – GCR Ratings With a relatively high yet growing debt profile, Lagos State has been noted to be contributing 25% to national gross domestic product (GDP), GCR Ratings said in a note on Wednesday, following recent upgrades to the cosmopolitan city ratings. The national scale long and short term issuer ratings of the state that houses some of the nation’s critical infrastructure were upgraded to AA-(NG) and A1+(NG) respectively, according to the rating note which indicates that the state government programme 3 series 2 with two tranches, as well as series three and…

Oil closed with a third-straight loss on Wednesday as recession fears once again dominate trade

Nigerian government paid about N2 trillion as subsidies on Fuel in the first six months of the fiscal year…

How is a higher interest rate from Nigerian banks impacting your business?

Down by N18.37 billion, the equity market extended losses on Tuesday as the market capitalisation

GCR Ratings has placed Union Bank of Nigeria Plc.’s national scale long-term and short-term issuer ratings

Fidelity Bank Plc said it had entered into a binding agreement to acquire a 100 per cent equity stake in Union Bank

Management of Dangote Sugar Refinery Plc has resolved to significantly reduce the importation of sugar

European Union’s (EU) seaborne crude oil imports from the Middle East and Africa

Equities investors lose about N3 billion on Monday in the equities segment of the Nigerian Exchange