Friday, November 13, 2020
NSE Facilitates N1trn Capital Raise for Govts, Corporates in 10 Months
Governments and corporates have raised about N1 trillion across the various asset classes of the Nigerian Stock Exchange (NSE) between January and October, between January and October, the Divisional Head, Listings Business, NSE, Mr. Olumide Bolumole, has said. He disclosed this at a webinar hosted by the exchange in collaboration with Odu’a Chambers of Commerce and Industry on Wednesday in Lagos. Read more
‘Disagreement over Airport Concession May Hurt Aviation Industry’
The present disagreement over issues concerning the concession of airports may pit aviation workers against government, members of the trade union have warned. Currently labour has become intransigent over the issue, insisting that there is lack of sincerity in the whole process. Read more
NNPC Denies Allegation of Non-remittance of $21bn to Federation Account
The Nigerian National Petroleum Corporation (NNPC) yesterday refuted the allegation by the Revenue Mobilisation Allocation and Fiscal Commission (RMAFC) that it failed to remit $21billion to the Federation Account. The commission, in the report submitted to the House of Representatives Committee on Public Accounts had said the NNPC spent the money without authorisation. Read more
NSE triggers circuit breaker as stocks record five-year highest gain
Nigerian equity market on Thursday rose to the highest in more than five years as massive buying pressures triggered a market-wide circuit breaker for the first time. The Nigerian Stock Exchange All-Share Index posted its largest daily gain in more than five years on Thursday. The ASI rose beyond the set threshold of five per cent, triggering a 30-minute trading halt of all stocks for the first time since the circuit breaker was introduced in 2016. Read more
BREAKING: NNPC raises petrol depot price, marketers to sell at N168-N170/litre
The Petroleum Products Marketing Company, a subsidiary of the Nigerian National Petroleum Corporation, has increased the ex-depot price of Premium Motor Spirit, also known as petrol, to N155.17 per litre from N147.67 per litre. The PPMC disclosed this in an internal memo with reference number PPMC/C/MK/003, dated November 11, 2020, and signed by Tijjani Ali. Read more
‘FG earns $5m yearly from shea butter exports’
Nigeria currently earns over $5 million yearly from shea butter exports. The country, however, is targeting about $100 million annual earnings from the commodity. The Federal Capital Territory (FCT) Minister of State, Dr. Ramatu Aliyu, disclosed this yesterday in a message to the Third Technical Meeting of the National Committee on Export Promotion held in Abuja. Read more
Nigeria, Egypt, others control 50 per cent of Africa’s 700,000 developers
Fifty per cent of the about 700,000 professional developers across Africa operate from Nigeria, Egypt, Kenya, Morocco and South Africa. The e-Conomy Africa 2020 report, which revealed this, noted that African developers use both formal and informal education channels to gain skills and access high-paying jobs. Read more
Airlines’ financial status, COVID-19 losses stir controversy
The actual financial status of operating local airlines and how much they lost to the COVID-19 pandemic disruption is a subject of controversy among stakeholders. While some of the operators claimed to have lost over N180 billion as an industry to warrant a heavy financial support from the Federal Government, there are doubts that the airlines lost that much within seven months. Read more
