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JenneteUgo Anya
- August 23, 2024
BUA Foods Boosts Flour Milling Capacity With New Deal
BUA Foods Plc, one of Nigeria’s leading food processing companies, has entered into a groundbreaking agreement with IMAS, a prominent Turkish milling equipment manufacturer, to establish four new wheat milling factories in Nigeria. This ambitious project, set to increase BUA’s milling capacity to an impressive 2.5 million metric tonnes annually, signifies a major stride in […]
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- August 23, 2024
Oando PLC Finalises $783m Acquisition Of NAOC
Oando PLC has successfully concluded its acquisition of the Nigerian Agip Oil Company (NAOC) from Italy’s Eni, in a landmark $783 million deal. This strategic move marks a significant step in Oando’s long-term growth plan, reinforcing its position in Nigeria’s oil and gas sector. The transaction, which encompasses both reimbursement and asset consideration, received final […]
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- August 19, 2024
Union Bank’s Recapitalisation Highlights Importance Of Investor Relations, Fuels Growth
Union Bank of Nigeria has embarked on a recapitalisation journey, a strategic move that underscores its commitment to financial resilience and growth in a rapidly evolving economic landscape. The bank reported a significant 58.19 percent rise in gross earnings for the first half of 2024, this recapitalisation effort not only aligns with the Central Bank […]
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- August 16, 2024
Boosting Visibility, Trust For Nigerian Startups Through iHATCH Success
The recent development of the federal government awarding $37,000 to startups under the iHATCH program is a significant boost for the tech ecosystem in Nigeria, with far-reaching implications for branding, public relations, and investor relations in the startups involved. Credibility and Trust Winning a government-backed award through a prestigious program like iHATCH instantly elevates the […]
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- August 16, 2024
SMEDAN, NIPOST Partnership, A Boost For MSMEs Growth
The recent collaboration between the Small and Medium Enterprises Development Agency of Nigeria (SMEDAN) and the Nigerian Postal Service (NIPOST) offers more than just a logistical solution for small and medium enterprises (SMEs). In providing a 15 percent discount on logistics services, this partnership aligns with broader national strategies, such as the GROW Nigerian initiative, […]
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- August 14, 2024
SEC Grants Access Holdings Extension On N351bn Rights Issue
The Securities and Exchange Commission (SEC) has approved a 10-day extension for Access Holdings Plc’s N351 billion rights issue, moving the new deadline to August 23, 2024. The extension follows disruptions caused by nationwide protests that affected business operations across Nigeria. The rights issue, initially set to close on August 14, 2024, opened on July […]
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- August 13, 2024
NGX Lists Two New FGN Savings Bonds
The Nigerian Exchange Limited (NGX) has officially listed two new Federal Government of Nigeria (FGN) savings bonds, offering retail investors a secure and lucrative investment opportunity. These bonds, priced at N1, 000 per unit, were recently unveiled by the Debt Management Office (DMO) in Abuja. As of August 12, investors can subscribe to these savings […]
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- August 12, 2024
FG To Disburse N150bn Palliatives To Manufacturers, MSMEs
The federal government is set to commence the disbursement of the N150 billion presidential palliative program aimed at supporting manufacturers and micro, small, and medium enterprises (MSMEs). This announcement was made by Honourable Minister of Industry, Trade, and Investment, Mrs. Doris Aniete, in a recent statement released over the weekend through her spokesperson, Mr. Terfa […]
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- August 9, 2024
Foreign Portfolio Inflows Into NGX Rise To $161.4m In H1 2024
In the first half of 2024, foreign portfolio inflows into the Nigerian Exchange (NGX) amounted to $161.4 million, marking a 14 percent year-on-year (YoY) increase from the $141.8 million recorded during the same period in 2023. This growth reflects a renewed interest in the Nigerian market by foreign investors, despite ongoing currency challenges and broader […]
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- August 9, 2024
NGX Market Capitalisation Plunges By $27.8bn
The Nigerian Exchange (NGX) has witnessed a significant decline in market capitalisation, dropping by $27.8 billion in just one year after the Central Bank of Nigeria’s (CBN) decision to float the naira. This move, aimed at achieving a unified exchange rate, has had far-reaching consequences for the NGX and the broader economy. In June 2023, […]
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