Investors in the Nigerian capital market lost N50 billion at the close of trading on Wednesday. This followed a dip in the share prices of stocks like CWG, NNFM, and ACADEMY amongst others on the trading floor. After five hours of trading at the capital market, the equity capitalization decreased to N55.5 trillion from N55.6 The post NGX: CWG, Academy among top losers as investors lose N50bn appeared first on Latest Nigeria News | Top Stories from Ripples Nigeria.

The Minister of Finance and Coordinating Minister of the Economy, Wale Edun, and the Board of the Nigeria Customs Service (NCS) has met on implementation of the zero percent duty on selected food imports. The Ministry of Finance disclosed this in a statement on X on Wednesday. Edun noted that the tax waiver would tackle The post Edun meets Customs on implementation of zero duty on food imports appeared first on Latest Nigeria News | Top Stories from Ripples Nigeria.

Tier -1 bank, GTCO Plc, has raked in the sum of N15.6 billion as account maintenance charges in the first half of this year. This was N5.2 billion higher than the N10.4 billion recorded by the bank in 2023. According to the Central Bank of Nigeria (CBN), account maintenance fees are charged on current accounts The post GTCO makes N15.6bn from account maintenance charges appeared first on Latest Nigeria News | Top Stories from Ripples Nigeria.

Nigeria’s average daily crude oil production increased to 1.35 million barrels per day (bpd) in August. This is even as Nigeria retained its position as the biggest oil producer in Africa, surpassing Algeria, which produced 910,000 bpd, and Congo in third place which produced 270,000 barrels of oil per day in August according to the The post Nigeria retains top spot as crude oil production surges to 1.35m bpd in August appeared first on Latest Nigeria News | Top Stories from Ripples Nigeria.

Billionaire businessman and chairman of the United Bank for Africa (UBA), Tony Elumelu has pointed out that development of any country is impossible without access to reliable electricity to drive industrialization. Elumelu made this known on Tuesday while delivering the keynote address at the Chartered Institute of Bankers of Nigeria (CIBN) 17th Annual Banking and The post Nigeria cannot develop without reliable access to electricity, says Elumelu appeared first on Latest Nigeria News | Top Stories from Ripples Nigeria.

Investors in the Nigerian equities market gained N343 billion at the close of trading on Tuesday. This followed an increase in the share prices of stocks like SFS REIT, RT BRISCOE, and CAVERTON amongst others on the trading floor. After five hours of trading at the capital market, the equity capitalization increased to N55.6 trillion The post NGX: Equities market recovers as investors gain N343bn appeared first on Latest Nigeria News | Top Stories from Ripples Nigeria.

President Bola Tinubu declared on Tuesday his administration has started restoring confidence in Nigeria’s economy through its reforms. He stated this at the 17th Annual Chartered Institute of Bankers of Nigeria (CIBN) Banking and Finance Conference held in Abuja. Tinubu, who was represented by Vice President Kashim Shettima, said the measures initiated by the government The post Tinubu boasts his government restoring confidence in Nigeria’s economy appeared first on Latest Nigeria News | Top Stories from Ripples Nigeria.

The Nigerian National Petroleum Company (NNPC) Limited has announced the signing of an agreement with Chevron Nigeria Ltd (CNL), its joint venture (JV) partner, on the conversion of five oil mining lease (OMLs) into four petroleum prospecting licence (PPLs) and 26 petroleum mining lease (PMLs). This is even as the conversion is expected to significantly The post NNPC, Chevron sign agreement to convert five OMLs to PPLs, PMLs, target 165,000bpd by Dec 2024 appeared first on Latest Nigeria News | Top Stories from Ripples Nigeria.

The Trade Union Congress (TUC) has made a passionate appeal to the Central Bank of Nigeria (CBN) and the Nigeria Customs Service (NCS) to grant the Nigerian National Petroleum Company Limited (NNPCL) a special foreign exchange rate. This move, according to the TUC, would significantly reduce the cost of petrol importation and lead to a The post TUC urges CBN, Customs to grant NNPCL special forex rate appeared first on Latest Nigeria News | Top Stories from Ripples Nigeria.

The Nigerian equities market began the week on a negative note on Monday, September 9, 2024 as investors lost N111bn at the end of the trading session. This followed a dip in the share prices of stocks like JBerger, Transpower, and UPL amongst others on the trading floor. After five hours of trading at the The post NGX: Equities market begins week in red as investors lose N111.15bn appeared first on Latest Nigeria News | Top Stories from Ripples Nigeria.