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Daily Business News Brief – February 16th, 2024

16
Feb

Geregu Power, 23 Others Drive Market Cap by N329.25bn – Thisday
The Nigerian stock market yesterday extended its positive performance as gains in Geregu Power Plc and 23 others pushed the overall market capitalization up by N329.25 billion.
As a result, the Nigerian Exchange Limited All-Share Index (ASI) gained 601.72 basis points or 0.58 per cent to close at 104,100.00 basis points from 103,498.28 basis points it opened for trading……………………………………….. ……………………… .. . .,.. ………… …….. ………………… … .. …… ..  …. . ……….. ………. …………. . ….. . … …………….……..Read More
Nigeria’s inflation hits 29.90% in January 2024 – Nairametrics
In the latest inflation report released by the National Bureau of Statistics (NBS), Nigeria’s inflation rate for January 2024 has surged to 29.90%, marking a significant increase from the 28.92% recorded in the preceding month.
The data reveals a notable uptick in the headline inflation rate for January 2024 by 0.98% points when juxtaposed with December 2023’s figures…………………..,……………………………………………….. …. …… . ……… . ……………… . …………………………. ….:,….. … ……….. .. ……..  . ……… .., … .. .,……. .. …… . ….. . … …………….……..Read More
Seven underwriters declare N339.85b Premium in nine months – Guardian
seven underwriting firms listed to the stock exchange accounted for N339.848 billion in gross premiums in the first nine months of 2023. the amount is 47 per cnet of the total of N729.1billion generated by the entire industry in the same period… ………………………………………………………………………………………….. ……. .. ,…………… …… …………..,…………….. ….:,….. … ……….. .. ……..  . ……… .., … .. .,……. .. …… . ….. . … …………….……..Read More
NGX RegCo extends deadline for Neimeth free float compliance – Punch
NGX RegCo, the regulatory arm of the Nigerian Exchange Group, has approved the request of Neimeth International Pharmaceuticals Plc for an extension of the time to achieve the free float threshold.
In a corporate statement filed with the Nigerian Exchange Limited on Thursday, the firm said that the extension would enable it to comply with the NGX’s free float requirements between 2024 and 2026. 
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BUA Foods Plc Locally Sourced Raw Materials Triggered 2023 PAT Of N111.536bn – Independent
BUA Foods Plc recent full year 2023 financial result posting of N111.536 billion Profit After Tax (PAT) amidst economic headwinds, suggests that the company is adeptly handling its production costs by leveraging its comparative advantage in locally sourced raw materials, facilitated by its vertical integration strategies, the management has said ,………………………………………………..,….. ……. .. ,…………… …… …………..,…………….. ….:,….. … ……….. ……………. .., … .. .,……. .. …… . ….. . … …………….……..Read More
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