11
Oct
October 11, 2022
| Stock market bust offers opportunity for Nigerian investors – Punch |
| The bearish momentum in the Nigerian Exchange Limited (NGX) increased further as sustained profit-taking activities in Airtel Africa plc, other stocks drove the market to its fifth consecutive weekly decline. The NGX All-Share index dropped by 3.41 per cent to close at 47,351.43 basis points, the lowest level since April 2022………..Read More |
Stock Market Down N661bn on Profit-taking in Airtel Africa, Others – Thisday |
| The bearish momentum in the Nigerian Exchange Limited (NGX) increased further as sustained profit-taking activities in Airtel Africa plc, other stocks drove the market to its fifth consecutive weekly decline. The NGX All-Share index dropped by 3.41 per cent to close at 47,351.43 basis points, the lowest level since April 2022………...Read More |
Forex scarcity hits gas suppliers, price hike imminent – Thisday |
| There are indications that gas prices will further rise and Nigerians may pay more as marketers have hinted that the high exchange rate of dollar to naira is having a negative impact on importation. National Operations Controller, the Independent Petroleum Marketers Association of Nigeria, IPMAN, Mike Osatuyi, in a chat with The PUNCH on Sunday, said independent marketers sourced dollars for importation from the black market, hence, gas price would continue to increase until naira strengthened at the exchange market……….Read More |
NNPC: Nigeria to Take Final Investment Decision on $25bn Gas Pipeline Next Year – Punch |
| The Nigerian National Petroleum Company Limited (NNPC), along with its partners could take a Final Investment Decision (FID) on the $25 billion Nigeria-Morocco gas pipeline in 2023, the national oil company has said. The 5,600-kilometer (3,840-mile) pipeline is meant to supply the fuel to Europe, with the NNPC and the Office National des Hydrocarbures et des Mines of Morocco, signing a Memorandum of Understanding (MoU) on the deal last month…………..Read More |
E-payment Transactions Decline to N32.84trn on Network Glitches, Worsening Economic Downturn – Punch |
| Banks network malfunction, among other factors, contributed to N396.18billion or 1.19 per cent decline in Nigeria Inter-Bank Settlement Systems (NIBSS) Instant Payment Platform (NIP) to N32.84 trillion in September 2022 from N33.2 trillion reported by NIBSS in August 2022. The latest data released by the NIBSS revealed that total value of transactions worth N271.56 trillion were performed electronically in nine months of 2022, an increase of 26 per cent when compared to N215.76 trillion reported in nine months of 2021…………..Read More |