Capital Market Capital Market

NB’s H1 2017 growth positions for higher earnings

Ihesiulo Grace 18 August 2017 0

The Nigerian Breweries Plc’s first half year result has continued to generate reactions, as analysts see brighter earnings on the back of higher price offerings and cost maximization. NB’s H1 2017 result, which showed positive margin outlook for H2, a trend that has triggered higher

Capital Market Capital Market

As UAC’s 37% y/y PAT drops H1 pre-empts 2017 FY result

Ihesiulo Grace 18 August 2017 0

The weak performance of UAC of Nigeria Plc for the first half of the year ended 30th June, 2017, has been described by analysts as major factor to preempt the direction of the company’s 2017 financial year result. This was coming as the company’s management is considering price increase across products’ segments to drive value […]

Business Capital Market

Experts blame high interest, others on customers’ deposit decline

Ihesiulo Grace 18 August 2017 0

Financial experts have linked the recent decline in deposits of some Deposit Money Banks (DMBs) operating in the country, due to a combination of high interest rate, drop in bank customers’ income and increase awareness among their customers, among many others as factors responsible for the significant drop in the first half of the year. […]

Business Capital Market News Oil & Gas

Mobil changes name

Ihesiulo Grace 8 August 2017 0

Mobil Oil Nigeria has sent a notice to the Nigerian Stock Exchange (NSE), informing dealing members and the investing public of its change of name from Mobil Oil Nigeria to 11 Plc. The change of name will take effect on the Nigerian Stock Exchange (NSE) on Friday, 11 August. NIPCO Plc, had last year acquired […]

Capital Market

OPEC won’t prevent Nigeria, Libya from increasing output

Ihesiulo Grace 26 July 2017 0

Organisation of Petroleum Exporting Countries, OPEC, seems to be willing to let exempt members Libya and Nigeria boost their crude oil output further before asking them to join the supply control deal aimed at propping up prices. That’s according to Bloomberg’s Ben Sharples, reporting on a meeting of OPEC ministers ahead of a wider ministerial […]

Capital Market Capital Market

Meristem Securities upgrades investor recommendation for Forte Oil

Ihesiulo Grace 21 July 2017 0

Investor recommendation for Forte Oil Plc has been raised to buy from hold by Meristem Securities. According to the leading investment adviser, the upgraded recommendation is to a target price of N77.41 from N64.09, implying a 68 percent increase from the last close, matching a consensus average of N77.41. Meristem Securities had before now advised […]

Capital Market Capital Market

NSE: Index sustains growth to 11th session by 0.54% on earnings’ expectations

Ihesiulo Grace 21 July 2017 0

Activities on the nation’s bourse maintained a positive trend to the eleventh consecutive trading day, with the All-Share Index rising by 180.90 points or 0.54 per cent to close at 33,695.83, on Thursday. Also, the market capitalisation, which opened at N11.550 trillion appreciated by N62.3 billion or 0.55 per cent to close at N11.613 tr, […]

Capital Market

Stakeholders call for investor confidence return

Ihesiulo Grace 18 July 2017 0

Cross section of capital market stakeholders have called for restoration of market investor confidence , as the Nigerian Stock exchange(NSE) records great feat in market development and returns on investments. The call was coming as the NSE has emerged as the world’s best performing market in terms of returns on investments in the month of […]

Capital Market

FG sells N106bn bonds at 16.25%

Ihesiulo Grace 14 July 2017 0

The Federal Government through its debt office has sold a total of N105.96 billion worth of five, 10 and 20-year bonds denominated in the local currency at 16.25 per cent. Despite the huge amount borrowed so far by the government, the finance minister, Mrs. Kemi Adeosun, believes that the largest economy in Africa needs to […]

Capital Market Property

Affordable Housing: Private Partnership initiative can bridge deficit – Stakeholders

Ihesiulo Grace 14 July 2017 0

With growing population, a lingering housing deficit and government’s continued inability to provide affordable housing in practical sense, stakeholders in the industry has posited that public private partnership initiative is the way out of the quagmire. A former Minister of Lands, Housing and Urban Development, Mrs. Akon Eyakenyi, acknowledged that affordable housing

Capital Market

ACBF’s $1.3 m : CBN officials, ministries, others to benefit

Ihesiulo Grace 12 July 2017 0

As part of effort to have better gender-responsive economic policy management and budgeting in West Africa countries, workers of central banks, ministries of finance and economic planning and other public sector bodies in Nigeria, Ghana; Sierra Leone; Liberia and the Gambia, would benefit from the African Capacity Building Foundation (ACBF) grant valued at $1.3 million.

Business Capital Market

How non-automation of AIS hinders performance

Ihesiulo Grace 12 July 2017 0

There is no doubt that, Aeronautical Information Service, AIS, is critical to the management of the nation’s airspace. Sadly, however, this has, over the years, has been posing a big challenge to the sector from achieving its optimum performance. that is why officers of the Aeronautical Information Service in the Nigerian Airspace Management Agency, NAMA, […]

Business Capital Market

Nigeria’s oil export to rise in August

Ihesiulo Grace 12 July 2017 0

Indications are pointing towards a rise in Nigeria’s oil export come August. On Thursday, Shell said it had lifted a force majeure on exports of Bonny Light crude, the latest sign that oil production is recovering after militant attacks in the Niger Delta. The force majeure was lifted from 09:00 a.m. Nigerian time (0800 GMT) […]

Business Capital Market

World’s oil investments slowed by over $300b in 2015, 2016 – IEA

Ihesiulo Grace 12 July 2017 0

Following up on World Energy Outlook 2015, which examined the potential impact of a prolonged period of lower oil prices on energy markets, an updated analysis from the International Energy Agency, IEA, has confirmed that the current low oil price has had a negative impact on oil investments and hurt energy efficiency. The latest data from […]

Business Capital Market

Interbank rate hits 15%, as government raises N190b through TB

Ihesiulo Grace 12 July 2017 0

The nation’s interbank overnight lending rate increased sharply by 10 percent to close at 15 percent on Friday, compare to 5 percent closed rate a week ago, and this has been linked to the payment for Treasury Bills (TB) purchases by the commercial banks. On Friday, the Federal government through the Central Bank of Nigeria […]

Capital Market Capital Market

67 oil block licenses illegally awarded between 2005-2011

Ihesiulo Grace 12 July 2017 0

A classified document obtained by Business Times has revealed how 67 oil block licenses were discretionally awarded by the Minister of Petroleum between 2005-2011. The awarded oil blocks, we learnt, resulted to revenue losses for Nigeria, no thanks to the management of the bid rounds who gave out the licenses to unqualified bidders, eventually leading […]

Banking Business Capital Market

How 13 banks posted N118b PBT in three months

Ihesiulo Grace 12 July 2017 0

A total of 13 Deposit Money Banks (DMBs) have declared a total of N118 billion as Profit before Tax (PBT) in three month of 2016 (Q1 2016). According to our correspondent checks, the PBT declared by these 13 DMBs dropped by 13.4 percent or N18.2billion recorded in prior first quarter of 2015. Surprising, Union Bank […]

Capital Market Capital Market

Experts delve on import of currency devaluation on ICT Industry, others

Ihesiulo Grace 12 July 2017 0

With the recent Central Bank of Nigeria (CBN) move with the Naira against the dollar, some experts said it been liberalized in the market and that has caused significant increase in confidence even as international potential clients that they were coming but held back have re-engaged to that wind of change to boost local content. […]

Capital Market News

Airtel CEO, Ogunsanya states conditions for listing on the Stock Exchange

Ihesiulo Grace 7 July 2017 0

Managing Director and Chief Executive Officer, Airtel Nigeria, Mr. Segun Ogunsanya, has stressed that telecommunication firms in Nigeria can successfully list on the Nigerian Stock Exchange and contribute significantly to the socio-economic development of the country, barring challenges confronting operators in the sector. According to him, an enabling business

Capital Market

Ashaka Cement exits NSE

Ihesiulo Grace 5 July 2017 0

The management of Ashaka Cement Plc has formally notified its shareholders and the general public of its delisting from the Nigerian Stock Exchange (NSE). In a statement issued on Tuesday, and signed by the Company Secretary, Mrs Zainab Silas-Umaru, the firm said the delisting takes effect immediately. According to the statement, “Application for the voluntary […]