Category: Business
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NIGERIAN STOCK MARKET RECORDS 4TH CONSECUTIVE LOSS, INVESTORS LOSE N348 BILLION
The Nigerian equities market slumped for the fourth straight session on Thursday, resulting in a staggering loss of N348 billion for investors. Key stock selloffs including Legend Internet, Champion Breweries, and Tantalizer triggered a 0.36% dip in market capitalisation, which closed at N95.316 trillion compared to an opening of N95.664 trillion. The All-Share Index similarly…
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AFRICA LOSES $75 BILLION ANNUALLY TO BIASED CREDIT RATINGS—EXPERTS SOUND ALARM AT DAKAR CONFERENCE
Experts at a major two-day conference in Dakar, Senegal, have issued a stark warning that Africa is losing approximately $75 billion every year due to biased credit ratings imposed by foreign agencies. Organized by AfriCatalyst, SAIIA, UNDP, and AUDA-NEPAD, the event gathered top policymakers, economists, and financial experts focusing on how Africa can amplify its…
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SEN. NED NWOKO CALLS FOR STRONGER ACTION TO TRACK AND RECOVER STOLEN CRUDE OIL PROCEEDS WORTH BILLIONS
Senator Ned Nwoko, representing Delta North and Chairman of the Senate Ad hoc Committee on Oil Theft and Sabotage, has pressed for an expanded mandate to trace, track, and recover billions of dollars lost to crude oil theft both within Nigeria and internationally. Speaking in Abuja, Nwoko revealed forensic audits uncovered over $300 billion in…
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MAN SUPPORTS 15% IMPORT TARIFF ON PETROL AND DIESEL TO BOOST LOCAL INDUSTRY AND ENERGY SECURITY
The Manufacturers Association of Nigeria (MAN) has expressed strong support for the recently approved 15% import tariff on petrol and diesel, viewing it as a patriotic policy aligned with the Nigeria-First agenda. MAN Director-General Segun Ajayi-Kadir said the tariff will strengthen local content, promote value addition, and boost refinery capacity. Ajayi-Kadir highlighted that the tariff…
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INDIGENOUS CONTRACTORS PROTEST AT NATIONAL ASSEMBLY DEMANDING PAYMENT OF OUTSTANDING 2024 CONTRACTS
The All Indigenous Contractors Association of Nigeria (AICAN) has staged peaceful protests at the National Assembly in Abuja calling on the Federal Government to clear overdue payments for fully executed 2024 contracts. President Jackson Nwosu highlighted that the prolonged delay has caused severe financial distress for many contractors, with some facing health issues due to…
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OYO GOVERNOR MAKINDE COMMITS TO AVIATION FOR ECONOMIC GROWTH, EMPOWERS WOMEN IN SECTOR
Oyo State Governor Seyi Makinde has reaffirmed his administration’s dedication to harnessing the aviation industry as a driver for infrastructure development and economic expansion. Speaking during the Women in Aviation International Nigeria Chapter conference in Ibadan, Makinde, represented by Deputy Governor Bayo Lawal, praised the vital roles women play in the aviation sector. Highlighting the…
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BIG NAMES, BIG IDEAS: TINUBU, SULTAN, UZODIMMA, OBAIGBENA LEAD STAR LINEUP AT NIGERIAN EDITORS’ CONFERENCE IN ABUJA
Abuja comes alive as top editors, politicians, business leaders, and diplomats converge to discuss democracy, trust, and the future of journalism. The nation’s capital, Abuja, is buzzing with activity as editors from across Nigeria arrive for the 2025 Annual Nigerian Guild of Editors (NGE) Conference, taking place November 12–13. The two-day event, which brings together…
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NIGERIA PRICES $2.35 BILLION EUROBONDS WITH RECORD $13 BILLION INVESTOR DEMAND
The Federal Government of Nigeria has successfully raised $2.35 billion through Eurobonds maturing in 2036 (a $1.25 billion long 10-year tranche) and 2046 (a $1.10 billion long 20-year tranche), according to the Debt Management Office (DMO). The bonds were priced with coupons/yields of 8.63% for the 10-year and 9.13% for the 20-year notes. This milestone…
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NIGERIAN STOCK MARKET LOSES N612 BILLION AMID SELL-OFF, BEARISH TREND CONTINUES
The Nigerian stock market continued its bearish streak on Tuesday, shedding N612 billion in market value. Triggered by sustained sell-offs in stocks like National Salt Company, Skyway Aviation Handling, Oando, UPDC, and Learn Africa, the Nigerian Exchange Limited (NGX) market capitalisation dropped from N97.582 trillion to N96.970 trillion. The All-Share Index fell by 1,109.50 points…
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SHAKARA FESTIVAL TO SHINE IN LAGOS DECEMBER 2025, REDEFINING DETTY DECEMBER VIBES
Lagos is set to host the inaugural Shakara Festival, a thrilling four-day outdoor celebration of African music, culture, and lifestyle from December 18 to 21, 2025, at Nautica Beach Resort, Lekki. Founder Godson Oriaku describes the festival as the ultimate destination for ‘Detty December,’ aiming to elevate African music globally and showcase Nigeria’s vibrant sounds…
