Investors gain N50.35bn as 31 stocks rise – Punch
Investors gained N50.35bn on Monday at the end of trading on the floor of the Nigerian Exchange Limited. The market capitalisation of the equities listed on the NGX rose to N25.46tn on Monday from N25.41tn on Friday. The NGX All-Share Index also rose to 47,233.91 basis points from 47,140.48 basis points. Thirty-one companies recorded gains at the end of trading on Monday, while 17 companies recorded losses. A total of 421.46 million shares valued at N4.23bn were traded by investors in 5,961 deals…………………. read more
NNPC begins trans-shipment charges, depot owners raise fuel price – Thisday
The Nigerian National Petroleum Company Limited has introduced a N500,000 Ship-to-Ship Coordination Charge for each transshipment operation for Premium Motor Spirit, popularly called petrol, involving the NNPC Marine Logistics. It was gathered on Monday that this charge on any transshipment operation was part of moves by the NNPC to fully recover its operational cost since the recently passed Petroleum Industry Act had made the national oil firm a limited liability company………………. read more
Clearing agents ground port operations, begin indefinite strike over CBN e-valuation – Vanguard
Ports operations at both Tin-Can Island and the Ports & Terminal Multipurpose Limited may have been grounded on Monday, following the commencement of the withdrawal of services by agents and freight forwarders operating at the two ports. The agents also threatened to extend the industrial action to all the ports in Lagos State, including Apapa, and Kirikiri Lighter Terminal, if their requests are not granted. The Central Bank of Nigeria had in a circular to all authorised dealers and the general public announced the introduction of e-invoicing for all imports and exports in the country, effective February 1, 2022……………… read more
Fuel scarcity: Private depots hike rates, more filling stations may sell above N180/litre – Daily Independent.
The cost of Premium Motor Spirit, popularly called petrol, may hit or exceed N180/litre in most filling stations in coming weeks if nothing is done about a recent hike in its ex-depot price by private depot owners. It was gathered that most private depot owners recently raised the cost of petrol from the approved N142-N145/litre price to between N162-N170/litre. This, oil marketers said, had already made some filling stations owned by independent marketers to start dispensing petrol at N180/litre, above the approved and regulated pump price of N165/litre………………read more
Nigerian insurance sector rebounds, records 8.01% annual growth – Punch
The Nigerian insurance industry grew by 8.01 per cent in 2021, compared to a negative growth rate of 13.29 per cent in 2020, figures obtained from the National Bureau of Statistics have shown. The NBS, in its Gross Domestic Product report for the fourth quarter of 2021, said the insurance industry also accounted for 7.82 per cent of the finance sector. According to the report, the underwriting industry recorded negative growth of 2.08 per cent in the first quarter of 2021………………. read more