Investment Firm to Build Overweight Positions in GTCO, ACCESS Following strong first quarter earnings for financial year 2024 from Tier-1 banking names, analysts at CardinalStone, a multi-asset investment banking firm, said they would begin to build their overweight position in GTCO and ACCESSCORP. Overweight reflects an analyst’s opinion that GTCO, ACCESSCORP will outperform its sector […]

Oyo Govt. Partners Shell to Build Gas Distribution Network Oyo State Government and Shell Nigeria Gas (SNG) have signed an agreement to develop gas supply and distribution infrastructure that will deliver gas to industrial and commercial users in the state. The agreement, signed on Friday in Ibadan, will allow SNG to build and operate gas […]

GTCO Makes N457 Billion Profit in Three Months Guaranty Trust Holding Company Plc (GTCO) posted strong earnings growth in the first quarter of 2024, details from its unaudited financial statement released on Friday showed. The financial services boutique profit rise sharply, up by about 686% year on year to N457 billion in the first three […]

Tinubu to Inaugurate Critical Gas Infrastructure Projects President Bola Tinubu is set to inaugurate three critical gas infrastructure projects being undertaken by the Nigerian National Petroleum Company Ltd.  (NNPCL) and partners. A statement by Presidential spokesman, Ajuri Ngelale, on Friday in Abuja, said that this was in line with Tinubu’s commitment to leverage gas to […]

FG to Divest 26 Oil Blocks of 8.211m Barrels Reserves The Nigerian Upstream Petroleum Regulatory Commission (NUPRC), says the International Oil Companies (IOCs) have proposed 26 oil blocks to be divested to indigenous companies with 8.211 million barrels of oil reserves. The NUPRC said it had also engaged two leading global oil and gas decommissioning […]

Tax: Court Orders FCT Revenue Agency to Seal off Defaulting Coys A Magistrate Court sitting in Wuse Zone 2, Abuja, on Friday, ordered the Federal Capital Territory Internal Revenue Service (FCT-IRS) to seal off a company, Ifedi A.K. Nigeria Ltd, over allegations bordering on non-filing of annual returns. The Magistrate, Janada Balami, gave the order […]

FG Adds 625MW to National Grid – Minister The Federal Government has announced the addition of 625MW of power to the national grid, increasing the grid’s wheeling capacity to 4800MW. Mr Bolaji Tunji, Special Adviser, Strategic Communications to the Minister of Power said this in a statement in Abuja on Friday.  Bolaji quoted the  Minister […]

Equities Investors Gain N466bn Amidst Mixed Earnings Releases Stocks appreciated by more than N446 billion on Friday, lifting the equities market capitalisation of the Nigerian Exchange (NGX) above N56 billion following previous downpour. The returns of the bulls caused the local bourse to record large weekly gain amidst mixed earnings scorecard releases by listed companies […]