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The Nigerian Exchange Ltd. (NGX) rebounded on Tuesday, reversing several days of bearish trends, with a gain of N101 billion. The NGX market capitalisation rose by N101 billion or 0.15 per cent, closing at N65.589 trillion, up from N65.488 trillion on Monday. Similarly, the All-Share Index (ASI) increased by 159.88 points or 0.15 per cent,
The Federal Government says the Special Agro-Industrial Processing Zone (SAPZ), is a strategic milestone in its plan to industrialise Nigeria’s agriculture sector and create sustainable jobs across the country. Vice-President Kashim Shettima said this while performing the groundbreaking for the construction of Phase 1 of the SAPZ project in Kaduna on Tuesday. The SAPZ is
The Director General (D-G) of the National Pension Commission (PenCom), Omolola Oloworaran, says the N5.51 trillion pension investment will boost the country’s real sector development. This is contained in a statement issued by the management of the commission in Abuja on Tuesday. The investments, she said, span infrastructure, private equity vehicles, real estate, and subnational
German luxury carmaker, Porsche’s global vehicle deliveries fell by eight per cent in the first quarter of 2025, weighed down by a 42 per cent drop in China. The company gave the report on Tuesday. Porsche delivered 71,470 vehicles worldwide between January and March, an eight per cent drop compared to the same period in
The Federal Government is planning to deploy robotic machines for underwater inspection of bridges nationwide, the Minister of Works, Sen. Dave Umahi, announced on Sunday. At a stakeholders engagement on Section 2 of the Lagos-Calabar Coastal Highway project, Umahi said that the move was to reduce the cost of hiring divers for underwater assessments. He
The Federal Government says it is set to receive the first batch of 3.205 million meters in April, procured to bridge the metering gap in the country. The Minister of Power, Mr Adebayo Adelabu,said this in a statement by his Special Adviser, Strategic Communications and Media Relations, Mr Bolaji Tunji in Abuja on Sunday. Adelabu
The Central Bank of Nigeria (CBN) on Friday supplied a total of 197.71 million dollars to the foreign exchange market through sales to authourised dealers. The apex bank’s Director of Financial Markets Department, Dr Omolara Duke, disclosed this in a statement on Saturday in Abuja. She noted that the intervention aligned with the apex bank’s
Ignatius Chukwu, the South South Regional Editor of Business Day Newspaper, has expressed grave concerns over the current economic policies in Rivers State, describing them as experiencing “summersaults.” In an interview with our reporter, Favour Zimoni, Chukwu highlighted the stagnation of investments in the state as a critical issue affecting economic stability. Chukwu explained that
Promoters and operators of entities engaged in a prohibited scheme is liable to a penalty of not less than N20 million or imprisonment to a term of 10 years or both. Thr Director-General of the Securities and Exchange Commission (SEC), Dr Emomotimi Agama, said it is one of the provisions of the newly signed Investments
International airlines that operate into Nigeria pay about N25bn annually for the towing of their aircraft, as the Federal Airport Authority of Nigeria has not been able to import the already procured aero bridges. In developed nations, aero bridges align with the aircraft doors, making immediate embarkation easy and swift. But in Nigeria, airlines pay
