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Daily Business News Brief- November 8th, 2022


Stock Market Close Flat as ASI Settle At 44,269.43 Basis Points – Thisday
The stock market of the Nigerian Exchange Limited (NGX) traded flat yesterday as the All Share Index (ASI) gained 0.001 per cent to close at 44,269.43 basis points. Also, the market capitalisation remained at N24.112 trillion the same it closed prior trading day.………..Read More
Nigeria’s Oil Production Deficit Hits 184.1m Barrels in Nine Months – Punch
Compared to Nigeria’s projected oil production of 468.8 million barrels in the first three quarters of 2022, the country was only able to drill 284.70 million barrels at the end of September, a THISDAY review of data from the Nigerian Upstream Petroleum Regulatory Commission (NUPRC), has shown. The difference in the country’s oil production pegged against its oil benchmark of 1.88 million barrels per day in the 2022 budget, means that the country was only able to produce just about 60 per cent of its total forecast for the period..………..Read More
Marketers say tough times as petrol hits N200/litre – Punch
The cost of Premium Motor Spirit, popularly called petrol, has risen to as high as N200/litre at depots, which means that motorists should brace up to buy PMS above N200/litre at filling stations. It was learnt on Monday that PMS cost, which was about N178 to N185/litre recently, had been jerked up by private depot owners due to the drop in supply by the Nigerian National Petroleum Company Limited, among other operational concerns………...Read More
Nigerian Breweries Adds New Energy Drink with Malt to Portfolio – Thisday
Nigeria’s leading brewery, Nigerian Breweries Plc has announced the addition of a new drink to its non-alcoholic portfolio, Zagg. The new addition is a malt-infused energy drink created for everyone who has an active lifestyle.  Speaking during a press conference in  Lagos to announce the new product,  the brand’s representative and Portfolio Manager, Non-Alcoholic brands,  Elohor Olumide-Awe, said that  Zagg was brewed to help the average Nigerian keep up with the demands of everyday life…………..Read More
BREAKING: Panic in crypto market as more than 180K investors liquidate – Nairametrics
About 181,830 traders have liquidated their crypto assets, totalling $358.54 million worth of liquidations.  Okex recorded the largest single liquidation order – BTC-USD-230331, worth $1.9 million.   Market jitters over a potential “Crypto Armageddon” related to FTX and its hybrid investment fund/market maker Alameda Research sent FTX’s exchange token FTT down by 23%. Bitcoin also lost $800 within minutes as the crypto market kept rolling down………..Read More
NGX reopens physical trading after 32 months of trading remotely – Nairametrics
The Nigerian Exchange Limited (NGX) has announced the reopening of its physical trading floor after 32 months of trading remotely following the emergence of the COVID-19 pandemic.   The NGX also hosted the Chartered Institute of Stockbrokers (CIS) to a Closing Gong ceremony to commemorate the Institute’s 30th anniversary alongside the reopening of the trading floor…………Read More
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