Presco Plc said it has started selling shares to exiting shareholders at N1,420 per share to raise approximately N236.67 billion in capital to expand its operations. The palm plantation and processing company announced this in a statement on Wednesday, November 12, signed by its company secretary, Frederick Ichekwai. It explained that it has opened a …
In a bid to expand its digital infrastructure and strengthen its competitiveness under the African Continental Free Trade Area (AfCFTA), the Federal Government of Nigeria has unveiled the largest fibre optic cable factory and first fibre-reinforced plastic manufacturing facility as a strategic asset for national development. The plant, built by Coleman Technical Industries Limited in …
A group of environmental rights organisations focused on advancing climate justice have raised concerns over a recent call by Nigeria's Vice President Kashim Shettima for new finance mechanisms to harness the nature economic value. In a joint statement on Tuesday, November 11, the non-governmental organisations (NGOs) described the move as an attempt to commodify the …
Oliver Alawuba, the group managing director/chief executive officer of United Bank for Africa (UBA), says the bank has been strategic in financing critical projects across African countries for developmental purposes and other continents more broadly. He hinted at this while delivering a keynote speech at the UAE-Chad Trade & Investment Forum in Abu Dhabi, United …
The Nigerian stock market recorded a significant decline on Tuesday as investors lost approximately ₦4.65 trillion in a single day of trading, with only four stocks on the gainers' table, a sell pressure that has persisted in recent times. The All-Share Index, which tracks the general market movement of all listed stocks, dipped by 5.01 …
The Managing Director/Chief Executive Officer of Financial Derivatives Company Limited, Bismarck Rewane, has urged the federal government to either reduce the capital gains tax (CGT) to 10 per cent or defer the implementation date. The renowned economist said this on Channels Television's Business Morning programme on Tuesday, November 11, while sharing his thoughts on what …
Ellah Lakes Plc, an integrated agro-industrial enterprise, has opened a ₦235 billion public offer to unlock its next growth strategy. The company officially declared it opened during a Facts Behind the Offer Presentation at the Nigerian Exchange Limited (NGX) on Monday, November 10. Ellah Lakes said it is issuing 18.8 billion ordinary shares at ₦12.50 …
The Federal Government said it is targeting $75 million in two new investment funds under its Investment in Digital and Creative Enterprises (iDICE) programme to boost the Nigerian technology and creative sectors in 2026. It was said in a statement on Monday, November 10, by the Senior Special Assistant to the President on Media and …
Nigeria's currency came under renewed pressure in the just-concluded week as the naira lost ground against the dollar at the official window, despite sustained interventions by the Central Bank of Nigeria (CBN), aimed at stabilising the foreign exchange (FX) market. A review of market data for the first week of November reveals that the naira …
The Nigerian stock market ended the first week of November on a bearish note as profit-taking dominated trading sentiment amid domestic and external headwinds, leaving investors to suffer a ₦2.83 trillion loss. Trading activity started on Monday, November 3, on a bearish note, sustaining the momentum all through the week. As a result, the total …
