Naira Sees First Appreciation Against Dollar in Black Market
This week, the naira has experienced its first appreciation against the dollar in the parallel…
Naira Sees First Appreciation Against Dollar in Black Market
This week, the naira has experienced its first appreciation against the dollar in the parallel foreign exchange market. Abubakar Alhasan, a Bureau de Change operator in Wuse Zone 4, Abuja, informed DAILY POST that the naira strengthened to N1625 per dollar on Thursday, up from N1635 on Wednesday. “We buy dollars at N1620 and sell…
NGX Continues Upward Trend as Investors Gain N186bn
The Nigerian Exchange Limited (NGX) maintained its strong bullish momentum on Wednesday, with investors reaping N186 billion in profits. The market capitalization of NGX increased by N186 billion, or 0.27 percent, reaching N68.543 trillion, up from N68.357 trillion on Tuesday. The All-Share Index (ASI) also saw a rise, climbing by 296.72 points, or 0.27 percent,…
Investors Gain N315 Billion as NGX Rebounds
Investors at the Nigerian Exchange Limited saw a significant gain of N315 billion on Tuesday as the stock market rebounded, reversing two days of declines. The market capitalization of the NGX increased by N315 billion, or 0.46 percent, closing at N68.357 trillion, up from N68.042 trillion on Monday. The All-Share Index (ASI) also rose by…
Lagos Achieves N1.3 Trillion IGR in 2024, Marking 45% Growth
The Lagos State Government has reported a remarkable increase in its Internally Generated Revenue (IGR), reaching approximately N1.3 trillion in 2024. This represents a 45% rise from the N895 billion collected in 2023. During a ministerial press briefing on Monday, held to commemorate the second anniversary of Governor Babajide Sanwo-Olu’s second term, Commissioner for Finance…
SEC Intensifies Efforts Against Ponzi Scheme Promoters*
The Securities and Exchange Commission (SEC) has intensified its efforts to combat Ponzi schemes in Nigeria, pledging to take strong action against illegal fund operators while also educating the public to prevent further collapses of fraudulent investment schemes. During an awareness campaign at the Dei-Dei Building Materials Market in Abuja, the SEC highlighted its commitment…
Oil Production: FG Aims for 2.5 Million Barrels Per Day – NSA Ribadu
The Office of the National Security Adviser (NSA) has announced that the federal government is dedicated to reaching a crude oil production target of 2.5 million barrels per day. Nuhu Ribadu, the National Security Adviser, made this announcement on Friday in Yenagoa during a stakeholders meeting hosted by Pipeline Infrastructure Nigeria Limited (PINL) to review…
Investors at NGX Earn N307bn in Gains
Investors in the Nigerian stock market enjoyed a gain of N307 billion, fueled by heightened buying interest. The market capitalization of the Nigerian Exchange Limited increased by N307 billion, or 0.45 percent, closing at N68.412 trillion, up from N68.105 trillion on Tuesday. The All-Share Index (ASI) also rose by 488.73 points, or 0.45 percent, finishing…
PETROAN Warns: Ban on Foreign Goods Imports Could Trigger Fuel and Price Increases
The Petroleum Products Retail Owners Association of Nigeria (PETROAN) has advised President Bola Ahmed Tinubu to exercise caution regarding the proposed ban on foreign goods imports. PETROAN cautioned that this ban, part of the Nigeria First Policy, could result in rising prices for premium motor spirit and other imported products. Gillis-Harry, the national president of…
Lagos Disburses N1.17 Billion in Loans to 4,600 MSMEs in 2024
In 2024, the Lagos State government, through the Lagos State Employment Trust Fund (LSETF), allocated N1.17 billion in loans to 4,600 Micro, Small, and Medium Enterprises (MSMEs) as part of its initiative to combat unemployment in the region. During a media briefing marking the sixth anniversary of Governor Babajide Sanwo-Olu’s administration, the Commissioner for Wealth…
Naira Experiences Significant Depreciation Against Dollar in Official Market
The Naira this weekend depreciated against the dollar in the official foreign exchange market, concluding the week on a low note. According to data from the Central Bank of Nigeria, the Naira fell to N1,602.18 per dollar on Friday, down from N1,596.68 on Thursday. This decline of N5.492 marks the largest depreciation since April 22,…
