Equity Market Falls by N35bn as Trading Declines The market capitalisation of the Nigerian Exchange Limited slid by N35bn as MTN Nigeria (-0.63 per cent), Dangote Sugar (-1.64 per cent), Lafarge Africa Plc (-1.34 per cent), United Bank for Africa(-0.24 per cent) and FBN Holdings...

FG, UN Partner to Raise $5bn Yearly for Poverty Alleviation  The Federal Government and the United Nations, as well as other development partners, are to raise $5bn annually for Nigeria’s Humanitarian and Poverty Alleviation Trust Fund. The Ministry of Humanitarian Affairs and Poverty Alleviation announced this...

FG Considers Shipping Line to Capture $10bn Market   The federal government said it would consider the re-establishment of a national carrier for the nation’s shipping sector. It said the National Shipping Line will be established through a strategic Private Public Partnership (PPP) arrangement, saying the move...

Nigeria, Germany Sign $500m Gas, Renewable Energy Deals   In a significant move to strengthen economic ties, Nigerian and German companies sealed two pivotal agreements in Berlin on Tuesday. The accords valued at $500m, encompass a renewable energy pact and a gas export deal, marking a milestone...

Nigeria’s Rig Count Drops by 13% Nigeria’s rig count, a major index of measuring activities in the upstream sector, dropped month-on-month, MoM by 13.3 percent to 13 in October 2023, from 15 recorded in the preceding month of September 2023. This showed that there was limited...

Petrol Retail Price Rose to N630.63 in October – NBS   The National Bureau of Statistics (NBS) says the average retail price of a litre of petrol increased from N195.29 in October 2022 to N630.63 in October 2023. It made the declaration in its Petrol Price Watch...