NGX Rebounds as Investors Take Position in GTCO, Transcorp Equities market capitalisation of the Nigerian Exchange (NGX) jumped by about N18 billion on Thursday as investors took positions in GTCO, Transcorp and Oando Stocks. The market has been bleeding amidst mixed earnings releases posted by listed companies, closing lower at N55.55 trillion on Wednesday. Buying […]

Oil Rises over Demand Expectations in US, China Oil prices increased on Thursday, aided by data showing elevated demand appetite in the US and China, the world’s biggest oil consumers. Brent crude price traded at $83.86 per barrel, up by 0.34% from the closing price of $83.58 per barrel in the previous trading session. American […]

IMF Lauds Nigeria’s Bold Reform, Highlights CBN Autonomy International Monetary Fund (IMF) remains positive with Nigeria’s bold economic reform, according to a statement released after the fund concluded the Article IV consultation with country. The fund said Nigeria, under its new administration, has set out on an ambitious reform path to restore macroeconomic stability and […]

IMF Keeps 3.3% 2024 Growth Forecast for Nigeria The International Monetary Fund on Thursday maintained its growth forecast of 3.3% for Nigeria’s economy for 2024, up from 2.9% last year, citing a pick up in services and trade sectors. The IMF added that growth outlook was still challenging in Africa’s most populous nation and top […]

Airtel Africa Posts $89m Loss After Tax as FX Crisis Bites Airtel Africa Plc recorded $89 million loss after tax due to pressures from currency fluctuation in its key markets. The large FX losses due to devaluation in Nigerian market and East Africa damaged the telecom company’s performance in the year ended March 31, 2024. […]