Local Stock Exchange kicks off 2025 with bullish start, gains N154.7bn
Post AMUGE
January 2, 2025
Bamidele Famoofo The local stock exchange opened this year’s trading session on a positive note, with the All-Share Index (ASI) increasing by 0.25 per cent to close at 103,180.14 points. This uptick added ₦154.7 billion to the market capitalization, raising it to ₦62.92 trillion and boosting the year-to-date (YTD) return to 0.25 per cent. Sectoral […]
Oil edges higher as investors eye post-holiday market trends, China recovery optimism
Post AMUGEJanuary 2, 2025
Onome Amuge Oil prices crept upward on the first day of trade in 2025, as investors, back from their holiday break, adopted a cautious stance while assessing the potential for a rebound in Chinese economic activity and fuel demand, buoyed by President Xi Jinping’s commitment to drive growth in the world’s second-largest economy. Brent crude […]
Nigeria on track for economic growth resurgence in 2025, say analysts
Post AMUGEDecember 30, 2024
2025 will bring about FX stability- Ebo FDC predicts Nigeria’s currency will begin to claw its way back from 2025 Onome Amuge With 2025 upon us, Nigeria finds itself confronting an economic juncture riddled with obstacles such as soaring inflation, a volatile currency, inadequate infrastructure, and an array of policy somersaults. As 2024 drew to […]
Turnover in fixed income market soars on high yields as investors inject N59trn in November
Post AMUGEDecember 30, 2024
Bamidele Famoofo Investment in the fixed income and currency market maintained a bullish run in 2024 with transactions in the twilight of the year (November) recording a 111.8 per cent growth year on year (N31.16trn) higher than the turnover in November 2023. On month on month basis, investments in the secondary market of the FIC […]
Telecom industry braces for tariff hike in 2025 amid sustainability concerns
Post AMUGEDecember 26, 2024
Joy Agwunobi The sustainability of Nigeria’s telecommunications sector has taken center stage, with indications that a long-debated tariff adjustment may finally gain traction. Bosun Tijani, the minister of communications, innovation, and digital economy, recently hinted at the need for a marginal tariff increase, citing economic pressures and the imperative to keep the industry afloat. “We […]
Access Bank emerges first Nigerian bank to exceed CBN’s N500bn capital target
Post AMUGEDecember 25, 2024
Secures CBN, SEC approvals for recently closed Rights Issue of ordinary shares worth N351bn Share capital hits N600bn Onome Amuge Aigboje Aig-Imoukhuede, Access Holdings chairman Access Bank, the banking subsidiary of Access Holdings has emerged the first bank to meet the N500 billion minimum regulatory capital requirements set by the Central Bank of Nigeria for […]
CBN, NCC issue 6-month deadline for banks, telcos on N250bn USSD debt
Post AMUGEDecember 24, 2024
Onome Amuge The Central Bank of Nigeria (CBN) and the Nigerian Communications Commission (NCC), have issued a final directive to Deposit Money Banks (DMBs) and Mobile Network Operators (MNOs) to reach a swift resolution to the longstanding N250 billion USSD debt dispute. A joint circular, signed by Oladimeji Taiwo, the acting Director of Payments System […]
3 years on: AfCFTA struggles to unlock Africa’s intra-trade potential
Post AMUGEDecember 23, 2024
Inter-African trade stands at 17%- Afreximbank Experts blame poor AfCFTA performance on divergent currencies, poor infrastructure, others ONOME AMUGE Africa, rich in resources, and brimming with a population of over 1.3 billion potential consumers, would appear to present lucrative opportunities for economic growth and development. However, intra-continental trade has remained sluggish, a glaring contrast to […]
Nigeria’s 2025 budget to deliver paltry N250K per citizen
Post AMUGEDecember 23, 2024
Tinubu faces criticism over 15% inflation target, others Onome Amuge In layman’s term, the ‘Budget of Restoration’ proposed by President Bola Tinubu last week, if shared among 200million Nigerians ( estimated) will amount to N250,000/head per annum. In dollar terms, it will amount to about 160. This amount will not pay four months minimum wage […]
Dangote refinery drops petrol price to N899.50/litre ahead of Yuletide festivities
Post AMUGEDecember 19, 2024
Onome Amuge Dangote Petroleum Refinery has slashed the price of its petrol to N899.50 per litre, aimed at easing transport costs during the festive period. Anthony Chiejina, group chief, branding and communications officer of the Dangote Group, made the announcement in a statement on Thursday, explaining that the move is expected to provide much-needed relief […]