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Daily Business News Brief |Wednesday, June 8th, 2022


Stock Market Appreciates by N100bn to Sustain Positive Momentum -Thisday

The stock market segment of the Nigerian Exchange Limited (NGX) yesterday sustained the bullish momentum with N100 billion gain, following bargain hunting in MTN Nigeria Communications (MTNN) and 14 others. The overall market capitalisation value gained N100 billion to close at N28.719 trillion, while the NGX All-Share Index (ASI) grew by 184.42 basis points or 0.35 per cent to close at 53,270.88 basis points………………..read more

Investors Shun 38% Listed Companies as Prices Traded Flat  – Thisday

As the stock market added 6.23 per cent in All-Share Index in May 2022, investors dumped 38 per cent or 53 out of 152 listed stocks on the Nigerian Exchange Limited (NGX) as they do not provide much opportunity for price appreciation and dividend payout………………read more

UBA, Zenith Bank, GTCO Others Maintains Strong Liquidity, Capital Adequacy Ratios in 2021 – Thisday

On the backdrop of a sound and resilient financial system despite challenges, Zenith Bank Plc, Guaranty Trust Holding Plc (GTCO), and 10 other banks in Nigeria maintained stronger Liquidity and Capital Adequacy Ratios (CAR) in 2021. Liquidity ratio is used to measure a company’s capacity to pay off its short-term financial obligations with its current assets, while CAR is a measure of how much capital a bank has available, which is reported as a percentage of a bank’s risk-weighted credit exposures…………..read more

Nigeria’s imports from China rise by 183.91%, debts hit $3.67bn – Punch

Nigeria’s import from China rose by 183.91 per cent from N530.98bn in the first quarter of 2018 to N1.51tn in Q1 2022.  According to the National Bureau of Statistics data on foreign trade, China is responsible for most of the imports into Nigeria. In the five quarters under review, China was the number one nation on the top 10 countries.  While China is responsible for the bulk of the nation’s imports, export to China is negligible according to available data. The country was missing from the nation’s top 10 export destination in Q1 2018 – Q1 2020, and Q1 2022…………..read more

Nigeria’s public debt climbs by N2.04tn in Q1 – DMO– Punch

The Debt Management Office said on Tuesday that Nigeria’s total public debt stock increased to N41.60tn in the first quarter of 2022 from N39.56tn as of December 2021.  This shows an increase of N2.04tn within a period of three months.  The public debt stock covers the total domestic and external debt of the Federal Government and state governments and the Federal Capital Territory…………..read more

Insecurity: Foreign investment in agric sector tumbles by 99% – Daily Independent

Capital importation into Nigeria’s agriculture sector tumbled by 99.23 per cent from $237.83m in the fourth quarter of 2021 to $1.76m in the first quarter of 2022.  This means that there was a 99.23 per cent decline within three months.  This was contained in the Nigerian Capital Importation report for Q1 2022 released by the National Bureau of Statistics……………..read more

FDI crashes by 78% in three months amid worsening dollar crisis – Punch

Foreign Direct Investment in Nigeria has crashed by 78 per cent in three months amid a worsening foreign exchange crisis in the country.  Figures obtained from the National Bureau of Statistics showed that the country’s FDI fell from $698.78m in the fourth quarter of last year to $154.97m in the first quarter of 2022, indicating a decrease of 78 per cent of $543.81…………..read more

fake richard mille
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