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NSE resumes from Easter holidays with N78bn loss

Investors gain N150bn as Nigerian stocks cut losses

The Nigerian stock market resumed after the Easter public holidays on Tuesday with a loss of 0.39 per cent due to persistent bearish trend, the News Agency of Nigeria reports. Specifically, the All-Share Index lost 150.13 points or 0.39 per ...

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Shoprite concluding arrangements to exit Nigeria 2021 – CEO

Shoprite concluding arrangements to exit Nigeria 2021 – CEO

South African Company, Shoprite Holdings Limited, has announced that the sale of its Nigerian outlets was being concluded. The company said it would shut down operations in the country by disposing a 100 per cent equity stake in its Nigerian ...

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Eight months pregnant taekwondoist wins gold as 20th National Sports Festival opens

Eight months pregnant taekwondoist wins gold as 20th National Sports Festival opens

• Team Delta extends lead • Edo triumph in Badminton event • Taxi drivers, hoteliers increase prices The Minister of Sports, Sunday Dare, yesterday, declared the 20th National Sports Festival, Edo 2020, open with a message to Nigerian youths to be ...

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Billionaires list: Dangote, Adenuga, Rabiu’s wealth rises by $5.7bn

Billionaires list: Dangote, Adenuga, Rabiu’s wealth rises by $5.7bn

The combined net worth of three of Nigeria’s richest persons increased by $5.7bn in one year to $22.5bn, according to Forbes’ 2021 World’s Billionaires list. The list, which was released on Tuesday, includes 14 African billionaires, with the President/Chief Executive ...

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NNPC targets 18-month completion, signs $1.5bn Port Harcourt refinery repair contract

NNPC’s trading surplus rises to N39.85bn

The Nigerian National Petroleum Corporation on Tuesday officially signed the contract with Tecnimont SPA for the $1.5bn rehabilitation programme of the Port Harcourt Refining Company. Parties in the agreement also announced the commencement of the project following the signing of ...

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IMF extends debt relief to 28 low-income countries

IMF extends debt relief to 28 low-income countries

The executive board of the International Monetary Fund approved a third tranche of grants for debt service relief for 28 member countries under the Catastrophe Containment and Relief Trust. The IMF said in a statement on its website titled, ‘IMF ...

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APC governors’ forum DG says Buni repeating Oshiomhole’s mistakes

APC governors’ forum DG says Buni repeating Oshiomhole’s mistakes

The Director-General of the Progressive Governors’ Forum, Salihu Lukman, has said the Caretaker/Extra-Ordinary Convention Planning Convention Committee of the All Progressives Congress chaired by Governor of Yobe State, Mai Mala Buni, is repeating the mistakes made by the immediate past ...

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Fuel marketing companies suffer N331.54bn revenue drop

Fuel marketing companies suffer N331.54bn revenue drop

Five of the major oil marketing companies in the country saw their total revenue plunge by N331.54bn last year amid the impact of the COVID-19 pandemic. The companies, including Total Nigeria Plc and Conoil Plc, saw their combined revenue for ...

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Barca edge closer to Atletico after late Dembele winner against Valladolid

Barca edge closer to Atletico after late Dembele winner against Valladolid

Ousmane Dembele volleyed in a 90th-minute winner against Real Valladolid on Monday to fire Barcelona to within a point of Atletico Madrid ahead of next weekend’s Clasico in La Liga. Barca looked set for a damaging stalemate at Camp Nou ...

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2,210 workers withdrew N3.18bn from voluntary pension contributions – PenCom

PenCom stop charges on artisans’ savings below N5m

A total of 2,210 workers withdrew N3.18bn from their Retirement Savings Accounts with their respective Pension Fund Administrators in six months after making additional voluntary contributions, the National Pension Commission has said. PenCom said this in its quarterly report, ‘Access ...

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Ibom Air will soon start flight to Gambia – Emmanuel

Ibom Air will soon start flight to Gambia – Emmanue

Gov. Udom Emmanuel of Akwa Ibom has said that Ibom Air, the state-owned airline, will extend its flight operations to the Gambia and other West African countries, the News Agency of Nigeria reports. Emmanuel said this when the Gambian High ...

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NGO tackles Chevron over oil spill in Gbaramatu

NGO tackles Chevron over oil spill in Gbaramatu

The Centre for Peace and Environmental Justice on Monday said the failure of Chevron Nigeria Limited to accept responsibility for the Gbaramatu oil spill was to undermine the wellbeing and environment of people living in the affected communities. CEPEJ said ...

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Azman reshuffles management after NCAA audit

NCAA lifts Azman Air suspension after six weeks

Azman Air has reshuffled a number of appointments amongst its management cadre following the recently concluded audit of the airline by the Nigerian Civil Aviation Authority. In a letter signed by the Admin and Human Resources Manager, Magaji Misau, on ...

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ECONOMY: PFAs Reduce Positions in T-bills, Target Long-dated Securities, Equities Market in 2020…

ECONOMY: Inflation Rate Falls Further to 17.93% in May 2021 on High Base Year Effect…

CWR, Cowry Weekly Financial Market Review Outlook Thursday, April 1, 2021

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Oil rally pushes Nigeria’s revenue above budget estimate

Crude nears $70, raises fear of federation account depletion

The upturn in the price of the international oil benchmark, Brent crude, has pushed Nigeria’s oil revenue above the estimate in the 2021 budget. Brent, against which the country’s crude oil is priced, has been trading more than $20 higher ...

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Oil Sector Digitisation And Risk Management

Oil Sector Digitisation And Risk Management

For the oil sector, digitization and risk management processes are top areas of focus in today’s world. Digitization is the process of converting information into a digital (i.e. computer-readable) format. The result is the representation of an object, image, sound, ...

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Port Crisis: Nigeria Tranships Empty Containers To Cotonou Using Barges

Port Crisis: Nigeria Tranships Empty Containers To Cotonou Using Barges

·  Invisible toll-gates on Tin Can port access roads ·  ‘Priority’ trucks defy Eto, export trucks trapped for weeks By Kenneth Jukpor Following the myriad of port challenges in Nigeria, shipping companies in the country have begun exporting empty containers ...

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Trucking: CRFFN’s Struggles And The Need To Instill Professionalism

Trucking: CRFFN’s Struggles And The Need To Instill Professionalism

By Yusuf Odejobi Transportation is an integral part of economic development in any nation. It allows for easy movement of goods and passengers from one part of a nation to another or across frontiers. An efficient transport system should help boost ...

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BEARS: Public Misconduct

BEARS: Public Misconduct

The Chairman, Code of Conduct Tribunal (CCT), Danladi Umar was recently captured in a viral video clip slapping and kicking a 22 year old security guard following an altercation over wrong parking. The victim, Clement Sargwak is an employee of ...

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BULLS: Dangote Empowers 16,000 Women

BULLS: Dangote Empowers 16,000 Women

Aliko Dangote Foundation (ADF) has empowered a total of 16,000 women in all the 16 local government areas of Kwara State. Each of the 16,000 rural women was given N10,000 to help boost their trades and also start new businesses. ...

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