Tuesday, March 17

Tag: billion

Darway Coast to benefit from N10 billion climate finance
16Mar By Emeka OkaforNo Comments
Reports

Darway Coast to benefit from N10 billion climate finance

Darway Coast, an enterprise specializing in renewable energy, will gain from a climate finance blending facility valued at N10 billion (£10 million). This was announced on Wednesday, November 9, 2022, by credit guarantor InfraCredit in an official statement released that day. In a declaration, Darway Coast Nigeria Limited’s green debt issuance—the inaugural transaction under InfraCredit’s clean energy financing program—was noted for its credit enhancement due to a co-financing arrangement with the £10 million climate finance blending facility, financed by the UK Foreign, Commonwealth and Development Office (FCDO). The financing will be utilized to establish six off-grid communities in the southern Nigerian states of Rivers and Abia with isolated solar mini-grids that have a cumulative ca...
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Dangote shareholders gain N293 billion as stock market extends gains
16Mar By Emeka OkaforNo Comments
Reports

Dangote shareholders gain N293 billion as stock market extends gains

At the end of today’s trading session, Dangote Cement Plc investors had accrued around N293 billion due to the favorable sentiment observed on shares of certain blue-chip firms listed on the Nigerian Exchange. Investigations showed that the stock rose from N221.30 per share the day prior by 7.77% to N238.50 per share. According to further analysis, Dangote Cement concluded the day on the Nigerian Stock Exchange (NGX) at N238.50 per share and N4.064 trillion in market capitalization, compared to N221 per share and N3.771 trillion the previous day, marking a gain of N293 billion or 7.77%. The domestic Bourse (NGX), on the other hand, finished positively while the market was optimistic, with bulls dominating the activity for the second consecutive day. In contrast to the previou...
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NGX opens the week negative with N76 billion loss
16Mar By Emeka OkaforNo Comments
Reports

NGX opens the week negative with N76 billion loss

Sure! Here’s the modified content with synonyms and altered sentence structures while keeping the HTML tags and format intact: Nigerian Exchange Limited (NGX) has commenced the week with a N76 billion deficit as bears regain control of the market. The NGX All Share Index (ASI) fell from 43,956.76 index points last Friday to 43,818.12 index points, representing a decline of 0.03% (or 138.64 basis points). Consequently, the total worth of stocks decreased from N23.942 trillion to N23.866 trillion, resulting in a loss of N76 billion. With 13 gainers and 13 decliners, the market breadth concluded unchanged. Meanwhile, 3,326 transactions involving 187.09 million shares were executed during today’s trading session. In terms of turnover volume, the premium sub-sector was ...
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UN says World’s population now 8 billion
16Mar By Emeka OkaforNo Comments
Reports

UN says World’s population now 8 billion

UN declares the World's population has now reached 8 billion. As per a prediction by the United Nations, presently there are eight billion individuals residing on the planet. UN Secretary-General Antonio Guterres remarked in a press announcement that this milestone represents a chance to honor diversity and progress while acknowledging humanity’s collective obligation towards the environment. The UN linked the growth to human advancement, highlighting that individuals are living longer due to improvements in nutrition, personal sanitation, public health, and medical care. “This is also a consequence of elevated birth rates, especially in the globe's most impoverished nations—most of which are located in sub-Saharan Africa—endangering their development objectives,” Guterres expr...
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COP 27: EU announces €1 billion for climate adaptation in Africa
16Mar By Emeka OkaforNo Comments
Reports

COP 27: EU announces €1 billion for climate adaptation in Africa

To assist Africa in adjusting to the evolving climate, the European Union has declared a €1 billion grant for the continent. As stated by Frans Timmermans, the executive vice president of the European Commission, this is accurate. During his address on November 16 at COP 27, he emphasized that COP 27 was an African COP and focused on adaptation. Timmermans remarked: “Africa has made the smallest contributions to the situation we find ourselves in today. Nevertheless, numerous countries on this continent are among the most susceptible to climate change, experiencing greater distress than many other regions. Hence, we need to enhance our efforts regarding adaptation in Africa. “That is why I am pleased to announce at this gathering that together, the European Union and four me...
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NGX closes negative as investors lose N20 billion
16Mar By Emeka OkaforNo Comments
Reports

NGX closes negative as investors lose N20 billion

The bears regained authority, leading the extensive market to retract by 35.72 basis points, and the Nigerian Exchange (NGX) concluded with a deficit of N20 billion. The All Share Index (ASI) fell 0.08% to conclude at 44,011.22 points. The market capitalization diminished by N20 billion in a similar manner. The stock exchange market worth stands at N23.9 trillion as of the close of operations on Thursday, November 17, 2022. Market breadth, in contrast, finished the trading session in the negative, with GUINNESS heading 21 decliners and UNILEVER leading 13 ascenders. From the start of the year, the stock market has escalated by 1,294.78 basis points, equivalent to 3.03 percent. Market Indices   NGX ASI: 44,011.22 points   Prior ASI: 44,046.94 points   % Day alt...
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Investors gain N262 billion as NGX closes on bullish note
16Mar By Emeka OkaforNo Comments
Reports

Investors gain N262 billion as NGX closes on bullish note

The Nigerian Exchange Limited (NGX) concluded with a gain of N262 billion as the bulls reclaimed command and propelled the overall market upward by 481.51 basis points. At its closing figure of 44,492.73 points, the All Share Index (ASI) had improved by 1.09%. The market capitalization similarly rose by N262 billion. The BGX market valuation was N24.2 trillion as of Friday, November 18, 2022, when trading wrapped up. By the end of today’s trading, FIDSON topped 11 decliners while NB led 20 risers in the market’s favorable closing spectrum. The stock market has improved by 1,776.29 basis points, which translates to 4.15%, since the year's onset. Market Indices NGX ASI: 44,492.73 points Prior ASI: 44,011.22 points % Daily Change: 1.09% % Year-to-Date: 4.15% ...
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Lafarge and MTNN increase in value by N78.78 billion in single day
16Mar By Emeka OkaforNo Comments
Reports

Lafarge and MTNN increase in value by N78.78 billion in single day

Analysts recommend that investors seek out dividend-issuing stocks with robust fundamentals. Lafarge Africa Plc and MTN Nigeria Plc experienced a rise of N78.783 billion or 1.81% during the trading session today, as optimistic sentiment lingered in the equity market for a second consecutive day, despite economic instability. This development occurred even though the CBN’s Monetary Committee raised the borrowing rate by 100 basis points to 16.5% on Tuesday. A swift investigation showed that the shares of Lafarge Africa Plc advanced from N20.00 per share the prior day to N22.00 per share at the trading's conclusion, indicating a growth of 5.26% or N17.719 billion in market capitalization. The market valuation of MTN Nigeria shares surged by N61.063 billion, or 1.52%, following the day's ...
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NGX closes positive with market cap up N710 billion
16Mar By Emeka OkaforNo Comments
Reports

NGX closes positive with market cap up N710 billion

The bulls maintained dominance over the local stock market as trading on the floor of the Nigerian Exchange Limited (NGX) concluded the day's session with an increase of N710 billion in market capitalization. The All Share Index (ASI), which settled at 46,232.37 points, rose by 2.90%. The market capitalization similarly surged by N710 billion. The stock exchange's market value stands at N25.2 trillion as of Wednesday, November 23, 2022, when trading wrapped up. By the end of today’s session, SCOA topped 11 decliners while NSLTECH led 28 advancers concerning market breadth. The stock market has risen by 3515.93 basis points, or 8.23%, since the onset of the year. Market Indices NGX ASI: 46,232.37 points Previous ASI: 44,929.33 points % Day Change: 2.90% % Y-t-D: 8...
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