| Trending News |
Nigeria Refineries will not be completed during the tenure of the current leadership, The regime of the President, Major General Muhammadu Buhari (retd.), will not be able to complete the repairs of the comatose refineries and will be expecting the next government to continue with it. This was stated by the Minister of State for Petroleum Resources, Timipre Sylva.
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Nigeria’s foreign reserve falls by $481.4 million in January 2022 -Nairametrics, Nigeria’s foreign exchange reserve recorded a $481.4 million decline in the month of January 2022 to close at $40.04 billion, following the $66.17 million decline recorded in the previous month. This is according to data obtained from the Central Bank of Nigeria (CBN). Notably, foreign reserves fell by 1.2% in January 2022 compared to $40.52 billion recorded as of 31st December 2021.
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6.6 million Nigerians become MTN shareholders, telco rakes in N111.75bn --Punch, MTN Nigeria Communication Plc has said it now has 6.6 million Nigerians as direct or indirect shareholders as it made N111.75bn from its share offer to Nigerians. The telecommunications company said this in a statement titled ‘Results of the series 1 offer for sale of MTN Nigeria Communications Plc ordinary shares, first public offer via a digital platform in Nigeria’.
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Federal Inland Revenue Service exceeded its tax collection target- Punch, The Vice President, Prof. Yemi Osinbajo, on Tuesday, declared that Nigeria’s eight per cent tax-to-Gross Domestic Product ratio was among the lowest globally and that efforts were on to increase this figure. He also stated that the Federal Inland Revenue Service exceeded its tax collection target last year, as it was able to collect N6.405tn from taxpayers nationwide.
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| Nigeria Stock Market Snapshot News |
Nigeria Stock Market, The Nigerian Stock Exchange closed the Tuesday trading session of February 1st, 2022, on a positive note, Investors gained N262.18 Billion. Market breadth closed with 36 Gainers and 20 Losers in yesterday's session. The NGX All Share Index (ASI) closed at 47,111.21 points, to reflect a gain of 1.04% from the previous trading day period gain of 0.91%.
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At the close of the market on Tuesday, the stock exchange Equities gained 1.04% to close at N25,386.53 billion, the Bond market retreated by 0.02% to close at N20.999.04 billion. Exchange-Traded Fund (ETF) climbed by 0.84% to N7,352.85 billion. The Markets Year-to-Date (YTD) return, however, is currently settled at +10.29%. More Analysis below
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