Finance

Nigeria’s Stock Market Attracts N1.3 Trillion in Foreign Investment in 7 Months

Nigeria’s stock market continues to draw strong attention from global investors, with foreign inflows reaching N1.3 trillion in just the first seven months of the year. This surge marks a renewed confidence in the country’s capital market, as international players seek opportunities in Africa’s largest economy despite global uncertainties. The latest report released by the …

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Nigeria’s New Tax Laws Take Effect January 1, 2026

Nigeria will officially enter a new tax era on January 1, 2026, following the signing into law of four major reform bills by President Bola Ahmed Tinubu. These include the Nigeria Tax Act, the Tax Administration Act, the Nigeria Revenue Service Establishment Act, and the Joint Revenue Board Act. Together, they reshape the country’s fiscal …

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Nigeria’s Economy Grows by 3.13% in Q1 2025 After GDP Rebasing – NBS

The National Bureau of Statistics (NBS) has reported that Nigeria’s economy grew by 3.13% in the first quarter (Q1) of 2025, following the rebasing of the country’s Gross Domestic Product (GDP) using 2019 as the new base year. This growth reflects a 0.86% point increase compared to the 2.27% recorded in Q1 2024, according to the …

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Nigerian Banking Sector Shines: Wema Bank Leads with 152.7% Stock Return in 2025

The Nigerian stock market has showcased remarkable growth in its banking sector, with Wema Bank emerging as the top-performing bank stock on the Nigerian Exchange (NGX) as of July 17, 2025. According to data released by financial analyst StatiSense, Wema Bank recorded an impressive one-year return of 152.7%, outpacing its peers and signaling strong investor …

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Stocks hit ₦82.41trn as investors bet possible rate cut effect on yields

The Nigerian stock market continued its bullish trajectory this week, with the All-Share Index (ASI) surpassing 130,000 points and total market capitalization reaching a record ₦82.41 trillion. This performance is driven by growing optimism that the Central Bank of Nigeria (CBN) could ease monetary policy at its upcoming Monetary Policy Committee (MPC) meeting on July …

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NGX Group Position Nigeria’s Capital Market to the Forefront of Africa’s Finance

Nigeria’s capital market is undergoing a historic resurgence, fueled by clear regulatory signals, bold economic reforms, and growing investor confidence. At the heart of this transformation is the Nigerian Exchange Group (NGX Group), under the leadership of its Group Managing Director and CEO, Temi Popoola. His forward thinking strategy is not just revitalizing the market, …

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Nigerian Stock Market Records Historic N1.8 Trillion Gain in Landmark Rally

The Nigerian Stock Exchange, operating under the Nigerian Exchange Group (NGX) Limited, achieved a historic milestone as investors gained an unprecedented N1.806 trillion in a single day. This remarkable surge reflects renewed investor confidence in Nigeria’s equities market, driven by improved liquidity conditions and the positive sentiment surrounding ongoing economic reforms. The market’s performance was …

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OIL

Nigeria’s Oil Production to Get Boost as Shell Resumes Export

With Shell’s Trans Niger Pipeline and the Forcados terminal returning as early as November, economists predict that Nigeria’s oil production would increase beyond 1.6 million barrels per day (bpd), helping to stabilize the government’s dwindling oil revenue.After repairs are finished, the Forcados Oil Terminal will restart export operations by the end of October, according to …

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NNPC

NNPC declares N674bn profit after tax for 2021

The Nigerian National Petroleum Corporation Limited has declared a profit of N674 billion after tax for the 2021 Fiscal year.The NNPC announced the results via their twitter account on October 4th, 2022.The audited financial statements for 2021 have been approved by the Board, according to NNPCL. “NNPCL has progressed to a new performance level, from …

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NAIRA

NAIRA CONTINUES FREE FALL AGAINST THE DOLLAR

The naira/US dollar exchange rate fell by 0.69% on Thursday morning, September 29, 2022, to trade at N730/$1 in the parallel market, down from N725/$1 on Wednesday.According to information obtained from black market traders, this is the case.Similarly, the official Investors and Exporters window recorded a 0.01% depreciation to close at N436.37/$1 on Wednesday, September 28th 2022, from N436.33/$1 the previous session.Meanwhile, on Wednesday, September 28th, 2022, a total of $119.49 million was traded on the official market, a 20.17%  increased from $99.43 million traded on Tuesday.

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