16
Aug
August 16, 2023
| Higher Food, Commodity Prices Drive Inflation Further to 24.08% – Thisday |
| The Consumer Price Index (CPI) which measures the rate of change in prices of goods and commodities rose to 24.08 per cent in July compared to 22.79 per cent in June, the National Bureau of Statistics (NBS) disclosed yesterday. The NBS blamed the 1.29 per cent rise in headline inflation on increases in the prices of food and commodities. Year-on-year, however, headline inflation was 4.44 per cent higher compared to 19.64 per cent recorded in July 2022.. ………………… … .. …… .. …. . ……….. ………. …………. . ….. . … …………….……..Read More |
Manufacturing firms’ profitability down by 351% in H1 amid soaring OPEX • Investors urge govt to grant moratorium to sector – Guardian |
| The harsh operating environment has triggered a downturn in the performance of the local manufacturing industry as companies under the sector recorded an average of 351 per cent decline in profitability in the first half (H1) of the year due to high operating expenses (OPEX). Worried by the development, stock market investors have urged the Federal Government to grant tax holidays to the companies to avoid further erosion of investors’ equity……, . … …………….. .. …….. . ……… .., … .. .,……. .. …… . ….. . … …………….……..Read More |
Hard times await manufacturers for rest of 2023 – MAN – Dailytrust |
| The Director General of the Manufacturers Association of Nigeria (MAN), Mr Segun Ajayi-Kadir, has said hard times await Nigeria’s manufacturers for the rest of the year. He said this during an interview with AriseTv on the effects of the skyrocketing exchange rate and the mooted increase in PMS pump rice across the country. When asked about the outlook for the year considering the current exchange rate of about N900/$ and high cost of fuel, and whether the country should expect more exits as in GSK and further job losses,…… .. .. …,….. ………. .. …….. . ……… .., … .. .,……. .. …… . ….. . … …………….……..Read More |
NGX, CIS, ASHON to work with MOFI on new listings – Guardian |
| At the Closing Gong Ceremony held in honour of MOFI’s engagement with capital market stakeholders at the NGX trading floor in Lagos, the Chief Executive Officer of the NGX, Temi Popoola, commended MOFI for its role as the custodian of government investments and assets, emphasising that NGX was eager to collaborate with the ministry to facilitate capital access for listed entities and contribute to the advancement of Nigeria’s capital market. ….:,….. … ……….. .. …….. . ……… .., … .. .,……. .. …… . ….. . … …………….……..Read More |
FBN shareholders seek peaceful resolution of boardroom tussle, endorse N17.9b dividend • As bank defends N150 billion capital raising – Guardian |
| Shareholders of FBN Holdings Plc, yesterday, called for a peaceful resolution of the lingering tussle over the control of the bank to ensure sustainable growth, even as they endorse a total dividend of N17.9 billion, culminating in 50 kobo due to every investor of the bank for the 2022 financial year. At the bank’s 11th virtual yearly general meeting held yesterday, the shareholders urged regulators to ensure that any director removed from the board of a listed firm divests its shares and loses representation on the board………… … ……….. .. …….. . ……… .., … .. .,……. .. …… . ….. . … …………….……..Read More |
5 Banks Generate N51.15bn from E-banking Charges – Thisday |
| In spite of fierce rivalry within the financial sector, a total of N51.15 billion in electronic banking income was generated by five banks during the first half of the year. This represents a notable growth of 30.17 per cent from the N39.29 billion recorded in the previous half-year period ending on June 30, 2022.,………….. … ……….. .. …….. . ……… .., … .. .,……. .. …… . ….. . … …………….……..Read More |
One Dead, Three Missing, 92 Rescued in Seplat Oil Rig Incident – Thisday |
| Seplat Energy yesterday confirmed the death of one person and the rescue of 92 others after its oil drilling rig ‘Majestic’ was involved in an incident in Ovhor in Okpe, Delta State. However, THISDAY, at the time of putting this report together last night, learnt that three persons aboard the facility were still missing while many of the rescued were receiving treatment…………… … ……….. .. …….. . ……… .., … .. .,……. .. …… . ….. . … …………….……..Read More |