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Investors Lost N193.16bn as NGXASI decreased by 0.35%; BDC Rate Depreciated to N1,623/USD - With profit-taking and negative sentiments in OANDO (-10.00%), NGXGROUP (-8.79%), DANGSUGAR (-3.64%), CONOIL (-2.53%), ZENITH (-2.35%), UBA (-2.26%), ACCESSCORP (-2.05%), ETERNA (-0.62%), UBA (-2.26%), GTCO (-0.44%), WAPCO (-0.40%), UCAP (-0.29%), and 21 others, the Nigerian bourse closed Wednesday's trading negative, snapping its four consecutive sessions of gains. Source Proshare Read More
Oando Plc Joins N1trn Market Cap Club, Increases NGX's Trillion Naira Companies to Eleven - As of September 3, 2024, the number of companies listed on the NGX with a market capitalisation exceeding N1trn increased to eleven, with Oando joining the prestigious group. Source Proshare Read More
Fuel Crisis … Labour Demands Immediate Reversal Of New Pump Price - Expectedly, the Nigeria Labour Congress (NLC) has condemned the federal government’s increase in the pump price of Premium Motor Spirit (PMS), describing it as a betrayal of trust. Source Leadership Read More
Private sector welcomes Tinubu’s plan to withdraw taxes on food - The Organised Private Sector has welcomed the plan by the Federal Government to withdraw taxes on food items, house rents and public transportation. Source Punch Read More
Power generation hits 5,313MW, first time in three years - Nigeria’s power generation rose to a three-year high of 5,313 megawatts on Monday, the Federal Ministry of Power has declared. Source Punch Read More
Petrol price hike may worsen inflation, hurt businesses, say MAN, LCCI - The Manufacturers Association of Nigeria (MAN) says the recent petrol price hike may result in an increase in the prices of goods and transport fares. Source TheCable Read More
Provide solutions to fix power sector not excuses, NERC tells DisCos - The Chairman of the Nigeria Electricity Regulatory Commission (NERC), Sanusi Garba, has charged Investors and owners of DisCos in the Nigerian Electricity Supply Industry to come up with solutions to fix the sector rather than making excuses. Source Daily Trust Read More
The World's 3 Biggest Oil Exporters Saw Shipments Slump in August - The world’s ‘Big 3’ crude oil exporters – Saudi Arabia, Russia, and the United States – saw their combined shipments slump by nearly 700,000 barrels per day (bpd) in August from July to a multi-year low share of global seaborne crude exports, an analysis by oil flow tracking firm Vortexa showed on Wednesday. Source Oilprice Read More
Top UK North Sea Oil Firm Sees Rising Windfall Tax Hitting Investments - The UK government’s plan to further raise the windfall tax on North Sea oil and gas producers will drive investments away from the region while Britain still needs oil and gas for the foreseeable future, the chief executive of Harbour Energy, the largest UKCS producer, told the Financial Times. Source Oilprice Read More
Fed rate-cut size this month to hinge on job market health - Federal Reserve policymakers are increasingly attentive to the U.S. labor market as they prepare for a policy-setting meeting later this month, when their assessment of job-market health will be key to how big an interest-rate cut they deliver. Source Reuter Read More
Nigeria Tech Initiatives 2024: N200M Awarded to Innovators, Major AI, Tech Programmes Launched - Dr. Bosun Tijani, minister of Communications, Innovation, and Digital Economy, speaking on the Nigeria tech initiatives for 2024, has revealed that over the past year, the government has disbursed N200 million in grants to 55 researchers and innovators, aimed at facilitating technological advancement across key sectors. Source TechEconomy Read More
NCC grants Airtel Nigeria licences to boost connectivity - The Nigerian Communications Commission has granted Airtel Nigeria Telesonic Limited, a subsidiary of Airtel Africa, three telecom licences. Source Punch Read More
Subscribers stranded as NIMC’s server downtime slows SIM-NIN updates - Fresh crisis appears to be brewing in the final push towards the September 14 deadline for the linking of the Subscriber Identity Module (SIM) cards to the National Identification Number (NIN) in Nigeria as continuous server downtime on the part of the National Identity Management Commission (NIMC) continued to frustrate the identity management process. Source Guardian Read More
NITDA warns of security vulnerability in Google Chrome browser - The National Information Technology Development Agency (NITDA) has warned Nigerians of a critical security vulnerability identified in the Google Chrome browser. Source TheCable Read More
Uber conducting internal review as drivers expect ride-hailing companies to raise prices - Ride-hailing platforms are considering raising ride fares as fuel prices soar to ₦897 per litre, following two months of fuel shortages in Nigeria. If they adjust fares, the platforms would need to find a middle ground that will balance the needs of drivers and passengers a tough ask. Source TechCabal Read More
Pension investment in FGN securities grows by 19% – Report - The investment of pension assets in Federal Government securities has risen by 19 per cent from N11.03tn in July 2023 to N13.18tn in July 2024. Source Punch Read More
CrediCorp: 500k civil servants to benefit from N100bn consumer credit scheme - The Nigerian Consumer Credit Corporation (CrediCorp) says 500,000 civil servants will benefit from the N100 billion consumer credit scheme. Source TheCable Read More
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