BusinessDay

Nigeria Equities Market:   Top gainers: RTBRISCOE (+9.7%) , MAYBAKER (+9.6%) and GUINNESS (+9.3%) ,   Top losers: IKEJAHOTEL (-9.7%), SOVRENINS (-6.9%) and NAHCO (-3.5%).

IOCs’ selloff frenzy signals Nigeria’s decline as oil giant

In January 2021, Tony Elumelu’s TNOG Oil & Gas Limited bought a 45 percent stake in Oil Mining Lease (OML) 17 for over $800 million from oil majors, Shell and others. It planned to grow production from 27,000 barrels per day (bpd) to 100,000 barrels, a peak reached in the past. By December, the company had grown production by 40,000bpd but was…

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Report on voting pattern

NigeriaDecides2023

APC governors, NWC in crucial meeting over presidential campaign council,…

The All Progressives Congress (APC) Governors and the National Working Committee (NWC) are in a crucial meeting to…

I want to fix Nigeria with truth – SDP’s Adebayo

Adewole Adebayo, the presidential candidate of the Social Democratic Party (SDP) said he is determined to fix…

Ezekwesili picks Obi over Atiku, Tinubu, others

Oby Ezekwesili, the former Minister of Education, has chosen Peter Obi, the presidential candidate of the Labour…

Dokpesi dismisses ‘OBIdients movement’ as no threat

Chairman Technical Committee of "Atiku for President", Chief Raymond Dokpesi, has stated that the Peoples…

Cost of Living Crisis

New parents lament soaring prices of diapers, wipes

New parents in Nigeria have been hit by high prices for crucial baby items such as wipes and diapers. Prices of…

Abia, Abuja top states with highest cost of preparing breakfast

Abia, Abuja, Edo and Ebonyi States recorded the highest costs of food items for preparing breakfast, a BusinessDay…

RUSSIA - UKRAINE CONFLICT

UN report shows magnitude of war’s toll on Ukrainian civilians

The UN Human Rights Office has outlined a litany of abuses and possible war crimes carried out by Russian forces in…

How Russia-Ukraine war may stress Nigerians, others beyond 2022

There are fears that the Russia-Ukraine war will likely drive economic instability in Nigeria and other countries…

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Videos

Video: Weekly market update

The Nigerian equity market closed last week's trading session with a contraction, declining by 33bps as the NGX-ASI closed at 49,026.62…

Video: Weekly market updates

In last week's trading session, the Nigerian equity market experienced a largely bearish performance as all indices under our coverage…

Weekly market update

Top gainers on the last trading session of the week were led by NEM (+7.6%), CHAMS (+6.9%) and FCMB (+6.1%), while HONYFLOUR (-10.00%),…

Obituary: Times Queen Elizabeth II was also Queen of Nigeria

Video- In Memoriam: Times Queen Elizabeth II was also Queen of Nigeria

The missing barrels

Watch a short summary of the oil theft phenomenon that Nigeria is yet to unravel despite being largely an oil dependent economy.

Video: IMF bailout animation

IMF bailout animated

Weekly market update 22nd-26th August 2022

The Nigerian equities market declined 4bps or 0.04% as the NGX-ASI closed at 49,682.15 points. Accordingly, the Year-To-Date (YTD) return of…

Video: Half year financial result of Lafarge cement on the Nigerian…

Half year financial result of Lafarge cement on the Nigerian Exchange Group

BD Weekender

So, you want to go into the ushering business? -A Review of Clementina…

Title: Profitable Usherpreneur: How to Start and Grow a Successful Ushering Business Author: Clementina Busayo…

Branding for Artists

What is a brand or better still what is branding? Nike, Adidas, and Skechers are best known to be the most…

Human synergy: becoming one with your business brand

The hallmark of a successful business can be a successful entrepreneur. While the personal success you have is down…

About guarding your space

Ummita, who was allegedly murdered in cold blood in Kano by a Chinese ex-boyfriend turned monster has gone but the…

Sponsored

Unlock New Level of Detail and Creativity with Xiaomi 12T Pro

The Xiaomi Corporation announced today that it is expanding its range of flagship devices with the launch of the…

Give a Gift that Keeps Giving – All Year Round

When it comes to gift-giving, most people only think about special occasions like weddings, birthdays, and…

Decagon celebrates 500+ graduates securing full-time developer roles…

On Friday, 9th of September, 2022, Africa’s leading tech talent institute, Decagon, held a memorable dinner and…

Infinix to launch yet another premium smartphone on October 6

Top premium smartphone brand, Infinix is set to launch its latest device, Zero ULTRA. The device is an addition to…

Technology

Elon Musk finally agrees to buy Twitter

Elon Musk, chief executive officer of Tesla has offered to continue his $44 billion Twitter acquisition deal,…

Google unveils first African cloud region in South Africa

Tech giant Google has announced the launch of a cloud region in South Africa, its first on the continent. Google…

African startups see record funding without a unicorn in 2022

Startups on the African continent are defying the global funding winter that has seen venture capital investments…

Terra Kulture partners Netflix to support creative industry programmes

Terra Kulture has received a financial donation from the global streaming platform, Netflix. A statement by the…

Economy

Private sector lending hits N40.2tn yet Nigeria remains underbanked

Domestic credit to the private sector in Nigeria increased by 20.2 percent year on year to N40.2 trillion in August…

Nigerian banks risk earnings dip, weaker lending growth – S&P

S&P Global Ratings has said banks in Nigeria could see reduced earnings, alongside weaker lending growth and…

Nigeria’s debt to balloon further while Angola’s is seen falling says World…

Africa’s two biggest oil producers, Nigeria and Angola are on a contrasting debt trajectory, with…

Naira gains 0.68% as demand moderates after holiday

Naira on Tuesday reversed 0.68 percent of its lost value, gaining N5 per dollar as demand moderated at the parallel…

Energy

Fire outbreak reported at Eroton’s oil well, fingers vandals

Eroton Exploration & Production Company Limited has confirmed an uncontrolled flow of hydrocarbons with…

Compared to its peers, NNPC’s ‘historic’ profit fails to impress

The Nigerian National Petroleum Company Limited (NNPC) posted its second consecutive annual profit of N674.1…

NNPC’s annual profit surges 135% to N674bn

Amidst the challenging operating environment that has tested the resilience of institutions and…

IOCs’ selloff frenzy signals Nigeria’s decline as oil giant

In January 2021, Tony Elumelu’s TNOG Oil & Gas Limited bought a 45 percent stake in Oil Mining Lease (OML) 17…

Markets

Otedola’s Geregu gains 10% on first trading day

Nigerian Exchange Limited (NGX) on Wednesday, October 5 listed by introduction Geregu Power Plc (GEREGU) on the…

Stock market drops further by 0.09%

Nigeria’s equities market recorded another negative close on Wednesday as investors continued to tread cautiously…

Jilnas quotes Commercial Papers on FMDQ Exchange

FMDQ Securities Exchange Limited (FMDQ Exchange) through its Board Listings and Markets Committee has approved the…

Stockbrokers trade 7.4bn shares worth N84bn in September

Nigeria’s securities dealers brokered 7.4billion shares worth N83.78billion in September, the monthly trading data…

Interview

‘Our emphasis is on capital preservation, achieving inflation-adjusted…

Michael Nzewi is the Managing Director/Chief Executive Officer of CardinalStone. He speaks on economy and markets…

Africa’s emerging economies are great prospects for business…

MATTHEW DELLA CROCE is the global president/chief client experience officer of Allison+Partners, a global marketing…

How businesses can utilise technology to improve growth, profitability, by…

Olugbanga Johnson is the managing director of Autusbridge Consulting Limited. The firm is an indigenous Nigerian…

Kassy Olisakwe: Blockchain entrepreneur building applications for companies

Despite the difficult business environment in Nigeria, entrepreneurs in the tech space have continued to thrive…

Companies

Cost of sales ratio rises for GSK, hits 74% in H1

Glaxosmithkline Consumer Nigeria Plc has encountered further cost increases in the second quarter that slowed down…

bCODE, Reebok partner to promote athleisure culture in Nigeria

Nigerian fashion and lifestyle company, bCODE, has announced a partnership agreement with Reebok, a global…

FT invites entries for 2023 ranking of Africa’s Fastest Growing Companies

The Financial Times, in collaboration with Statista, invites entries from African companies for the ranking of…

Access Bank to acquire 51% majority shareholding in Finibanco Angola S.A

Access Holdings Plc, trading as Access Corporation, on Tuesday announced that its wholly owned subsidiary, Access…

CLIMATE/ ENVIRONMENT

The danger of choosing to ignore impact of climate change in Nigeria

Nigeria, like other nations to the United Nations Framework Convention on Climate Change (UNFCCC) and other…

Osinbajo leads FG’s team to launch energy transition plan in August

The Federal Government of Nigeria will on Wednesday, August 24, 2022, launch its Energy Transition Plan, tailored…

Nigeria commits to UN water treaty

Africa’s most populous country has taken a significant step towards ensuring the sustainable management of its…

How to curb the flood menace in Lagos

As the rainy season emerged during the first week of March, residents of Satellite Town, Lagos have been troubled…

Toon of the day

Presidential Fitness Program 2023

Podcast

Life + Art

Tour of Omu Creek set to put Lagos on global tourism, travel map

As part of the ways Lagos State government is looking to boost travel and tourism and make the State attractive for…

Accolades pour in for Archbishop Agama’s book on Africa’s spirituality

Expected to take the African book market by storm, spiritual leaders, literary buffs and authorities in different…

Pacers Gallery partners Yawoa Foundation in inaugural artist-in-residence…

On August 1, 2022, the Nigeria and African visual art landscape witnessed the launch of an impactful art residency…

Suraj Adekola: Celebrating blackness, amid new approach in new works

For Black artists in the diaspora, maintaining cultural identity and connecting with African roots have been top…

Africa

Coup d’état in Burkina Faso as army officers take over

More than a dozen soldiers appeared on state television late Friday declaring that they have taken control over…

AfDB, Cameroon govt partner to boost agricultural value chains with €115.05…

The African Development Bank (AfDB) on Thursday entered into a strategically viable partnership with Cameroon that…

William Ruto sworn in as Kenya’s President

William Ruto has been officially sworn in as the fifth president of Kenya. Thousands gathered in the Kasarani…

Buhari meets former president Jonathan

President Muhammadu Buhari on Wednesday, received former President Goodluck Jonathan, at the Presidential Villa,…

World

Greenpeace protesters disrupt Liz Truss’s conference speech

The speech by Liz Truss, Prime Minister of Britain at the Conservative party’s conference was disrupted by two…

IMF approves $258bn financing to 93 countries

The International Monetary Fund (IMF) says it has approved $258 billion in new financing to 93 countries, since the…

Japan, South Korea raise alarm over North Korea’s missile test

Japan and South Korea have raised alarm over ballistic missiles testing operations into the Pacific Ocean by their…

Al-Shabab’s Abdullahi Nadir killed by joint air strike

The government of Somalia has confirmed the death of Al-Shabab's co-founder Abdullahi Nadir in a joint air strike,…

Big Story

IOCs’ selloff frenzy signals Nigeria’s decline as oil giant

In January 2021, Tony Elumelu’s TNOG Oil & Gas Limited bought a 45 percent stake in Oil Mining Lease (OML) 17…

Top Stories

Private sector lending hits N40.2tn yet Nigeria remains underbanked

Domestic credit to the private sector in Nigeria increased by 20.2 percent year on year to N40.2 trillion in August…

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OPINION

News

Elon Musk finally agrees to buy Twitter

Elon Musk, chief executive officer of Tesla has offered to continue his $44 billion Twitter acquisition deal,…

Big Story

Compared to its peers, NNPC’s ‘historic’ profit fails to impress

The Nigerian National Petroleum Company Limited (NNPC) posted its second consecutive annual profit of N674.1…

NigeriaDecides2023

APC governors, NWC in crucial meeting over presidential campaign council,…

The All Progressives Congress (APC) Governors and the National Working Committee (NWC) are in a crucial meeting to…

I want to fix Nigeria with truth – SDP’s Adebayo

Adewole Adebayo, the presidential candidate of the Social Democratic Party (SDP) said he is determined to fix…

Ezekwesili picks Obi over Atiku, Tinubu, others

Oby Ezekwesili, the former Minister of Education, has chosen Peter Obi, the presidential candidate of the Labour…

TOON OF THE DAY

Presidential Fitness Program 2023

Cost of Living crisis

New parents lament soaring prices of diapers, wipes

New parents in Nigeria have been hit by high prices for crucial baby items such as wipes and diapers. Prices of…

Coronavirus

Private Health Alliance, Sanofi team up to assess Covid-19 vaccine…

Concerned about the low uptake of COVID-19 vaccines in Nigeria despite the availability of supply, the Private…

VOTER CARDS REGISTRATION TRACKER

BD Weekender

So, you want to go into the ushering business? -A Review of Clementina Busayo’s…

Title: Profitable Usherpreneur: How to Start and Grow a Successful Ushering Business Author: Clementina Busayo…

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Businessday Investigates

Poor hearts in barrels of harmful oils

As unbridled access to unhealthy fats consumption increasingly hurts the human heart, thousands of Nigerians die…

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World Teachers’ Day: Atiku calls for improved investment in education

Presidential Candidate of the Peoples Democratic Party (PDP) and former Vice President of Nigeria, Atiku Abubakar…

Greenpeace protesters disrupt Liz Truss’s conference speech

The speech by Liz Truss, Prime Minister of Britain at the Conservative party’s conference was disrupted by two…

Stock market drops further by 0.09%

Nigeria’s equities market recorded another negative close on Wednesday as investors continued to tread cautiously…

Unlock New Level of Detail and Creativity with Xiaomi 12T Pro

The Xiaomi Corporation announced today that it is expanding its range of flagship devices with the launch of the…

Jilnas quotes Commercial Papers on FMDQ Exchange

FMDQ Securities Exchange Limited (FMDQ Exchange) through its Board Listings and Markets Committee has approved the…

Green shipping: NSC assures equal sharing of cost from new technologies

The Nigerian Shippers’ Council (NSC) has pledged to ensure equal sharing of the additional cost that may come up…