Value of 14 Banks’ Stocks Appreciate Marginally by N73.09bn Despite Decline in Corporate Earnings for 2021 – Thisday
On the heels of investors apathy, coupled with decline in corporate earnings for 2021 financial year and the first quarter of 2022, the values of 14 listed banks on the Nigerian Exchange Limited (NGX) added just N73.09 billion in five months of 2022 as investors trade with caution…………….read more
CBN retains 5% interest rate for power sector, others – Thisday
Sequel to its development finance initiative, the Central Bank of Nigeria has agreed to leave interest rates at five per cent per annum for critical sectors and manufacturing industries until March 2023. The decision followed the resolution of the Monetary Policy Committee to increase benchmark interest rate to 13 per cent from 11.5 per cent. Rate increases of this nature often lead to increases in lending rates across the various sectors of the economy. The CBN said, “The MPC is of the view that rates on the development finance initiatives of the Bank should remain at five percent till March 2023.”…………..read more
NGX to Deepen Collaboration With ICAN for Market Devt – Punch
Nigerian Exchange (NGX) Limited has stated that it will deepen its collaboration with Institute of Chartered Accountants of Nigeria (ICAN) for the development of the Nigerian capital market. The Chief Executive Officer of Nigerian Exchange, Mr. Temi Popoola, CFA stated this at the Digital Closing Gong Ceremony of ICAN on the NGX………….read more
Consumer goods imports rise by 109.25% amid dollar shortage – Punch
Nigeria spent N1.22tn on consumer goods imports in 2021, according to the Foreign Trade Statistics of the National Bureau of Statistics. This was a 109.25 per cent increase from the N584.41bn spent on importing consumer goods in 2018. The consumer goods imported into the country are categorised into durable, semi-durable and non-durable…………..read more
Nigeria, others face high risk of food crisis – Report – Daily Independent
Nigeria and 44 other countries around the world are severely exposed to the Ukraine war-induced food crisis, a study by Boston Consulting Group, a global management consulting firm, has shown. BCG, in a report titled, ‘The war in Ukraine and the rush to feed the world’, said it explored in detail, the multiple direct and indirect impacts of the turmoil in Ukraine on global food systems…………….read more
Nigeria’s Internet population grows by 108.39%, now 80.68 million- Thursday
Nigerians with access to fast Internet have grown by 108.39 per cent in four years, according to data from the Nigerian Communications Commission. The commission’s portal revealed that broadband penetration increased from 38.72 million (20.28 per cent) in March 2018 to 80.68 million (42.27 per cent) in March 2022. According to the ‘Nigerian National Broadband Plan (2020 – 2025),’ broadband commonly refers to high-speed Internet connection……………….read more