Business

Equity investors lose N4.9trn, as market uptrend reverses 

Equity investors lose N4.9trn, as market uptrend reverses 

By Peter Egwuatu  The Nigerian stock market reversed its upward trajectory last week with investors losing over N4.915 trillion of their investment listed on the Nigerian Exchange Limited, NGX.  The development was driven by a sustained profit-taking move across major sectors. Consequently, the NGX market capitalisation, which represents the total value of stocks listed on the […]
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Total makes progress on Ibewa gas leak

Total makes progress on Ibewa gas leak

Total E&P Nigeria Limited’s (TEPNG), said that its team has reported significant progress in the efforts to ensure that the incident is brought under control and to stop the subsurface gas flow from the affected well.

FG to compel MDAs to patronise locally-made products

FG to compel MDAs to patronise locally-made products

The Minister of Trade and Investment, Mr. Olusegun Aganga has revealed the decision of the Federal Government to mandate all government Ministries, Departments and Agencies, MDAs, including the state government to patronize Made-in-Nigeria products in line with the local content provision for government procurement.

Security situation: Investors confidence declining – LCCI

Security situation: Investors confidence declining – LCCI

Lagos Chamber of Commerce and Industry (LCCI) said the disturbing security situation in the country is impacting negatively on the investment environment, leading to declining confidence across the broad spectrum of prospective domestic and foreign investors in the economy.

Customs meets Ajelete community leaders to end clashes

Customs meets Ajelete community leaders to end clashes

TOP officers of the Nigeria Customs Service (NCS) have been meeting with community leaders at Ajilete, a border town in Ogun State, to find lasting solutions to incessant clashes between Customs personnel on the one hand and suspected smugglers and their supporters on the other.

Coleman Cables boss laments high energy cost

Coleman Cables boss laments high energy cost

The Managing Director of Coleman cables, Mr. George Onafowonkan, has lamented the high cost of generating alternative electricity supply by manufacturing industries, adding that his company alone has within the last two years of its operations spent over N60 million on generator expenses.