‘Nigeria’s debt on infrastructure, good investment’ – Fashola

The Minister of Power, Works, and Housing, Mr. Babatunde Fashola, has described Nigeria’s debt for infrastructure as a good debt. Fashola, who spoke at the just concluded Africa Investment Forum in Sandton South Africa, said that the Federal Government should not be judged like a private company when it comes to borrowing. He said: “The […]

U.S SEC adopts new rules for brokers on investors’ orders

The United States’ Securities and Exchange Commission (SEC) has adopted amendments that require broker-dealers to disclose to investors new and enhanced information about the way they handle investors’ orders. Specifically, the Commission amended Rule 606 of Regulation NMS to require a broker-dealer, upon a request of a customer who places a “not held” order (e.g., […]

Brazil plans $1.1bn investment in Nigeria’s agric sector

The Brazilian Ambassador to Nigeria, Ricardo Guerra de Araujo, has said that the Brazilian government intends to invest $1.1 billion in Nigeria’s agriculture as part of its efforts to strengthen the two countries bilateral relations. The envoy was quoted as saying that an agreement between his country and Nigeria on the proposed investment plan in […]

FG woos UK bitumen investors, assures enabling environment

The Federal Government has said that it is encouraging a United Kingdom-based mining company, Lakel Group, to invest in the nation’s bitumen industry to leverage the economic diversification drive and by so doing, create jobs for Nigerians. The Minister of State for Mines and Steel Development, Abubakar Bwari, disclosed this during a courtesy visit by […]

AFREXIM Bank has over $3.2bn investment in Nigeria- Oramah

The President of African Export-Import Bank (AFRIEXIM Bank), Prof. Benedict Oramah has said that the bank has over $3.2 billion worth of investments in Nigeria. He made the disclosure while responding to questions from reporters after a meeting with the Nigerian delegation on the sidelines of the ongoing International Monetary Fund (IMF) and World Bank […]

Recapitalization of insurance firms robs-off on insurance stocks

The recapitalization exercise recently announced by the National Insurance Commission (NAICOM) took a toll on insurance stocks in September with majority of them recording price depreciation. Data obtained from the Nigerian Stock Exchange (NSE) on Tuesday, showed that insurance equities dominated the losers’ table with Universal Insurance emerging the worst performing stock in September in […]

Ahmad tasks PFAs on investment in blue chip firms

A former Director-General, National Pension Commission (PenCom) Muhammed Ahmad, has advised Pension Fund Administrators (PFAs) on the need to effectively monitor their investments in blue chip companies listed on the Nigerian Stock Exchange (NSE). The market’s equity investments value stood at N710 billion as at June, 2018. Ahmad, who gave the advice at a forum […]

H1 2018: Rivers, Bayelsa, Lagos top investment destinations – NIPC

For the first six months of 2018, three states comprising of Rivers, Bayelsa and Lagos State top list of foreign investment destination in Nigeria. A report put together by the Nigeria Investment Promotion Commission (NIPC) explained that Rivers State received 35% of the $45.74 billion invested in 42 projects in nine states and the Federal […]

Osinbajo inaugurates TraderMoni in Owerri

Vice President Yemi Osinbajo on (Saturday) inaugurates TraderMoni initiative, a Federal Government’s Social Investment Programme, in Owerri, Imo State. Laolu Akande, Senior Special Assistant to the President on Media and Publicity, Office of the Vice President, disclosed this in a statement on Friday in Abuja. The initiative was designed to assist petty traders across the […]

Orange, MainOne sign telecoms connectivity investment pact

Orange Group and MainOne Cable Company have signed an agreement allowing for a major investment by Orange in MainOne, the West Africa submarine cable system. A news report distributed by African Press Organisation (APO) Group on the deal indicated that through the partnership Orange will acquire additional capacity, thereby reinforcing its position in the African […]