Daily Juice
Nigeria generated N799 billion in revenue from oil in Q1 2022, a decline of 28%
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Tech Updates
Vodacom launches VodaLend Cash Advance for underbanked customers
VodaLend Cash Advance is the latest product to be added to the VodaLend financial services suite, which includes VodaLend Compare, Voucher Advance, and Airtime Advance. Read more…
Zapper partners with Stitch to offer one-click payments in South Africa
Zapper, a South African mobile payments company has partnered with payments and data API fintech Stitch (via LinkPay—a one-click payments product) to enable Zapper users to make instant electronic funds transfer (ETF) payments with a click. Read more…
Flutterwave’s new Chief People and Culture Officer Mansi Babyloni empowers 200 young Africans with tech skills
In his remark, the CEO and Founder of Flutterwave, Mr OIugbenga Agboola, highlighted Babyloni's distinct features that made her a good fit for the position. Read more…
Business Matters
Nigeria’s capital inflow surges by 75% to $1.54 billion in Q2 2022, and FDI remains low
Nigeria attracted a sum of $1.54 billion as capital inflows in the second quarter of 2022, an increase of 75.34% compared to $875.62 million recorded in the corresponding period of 2021. This is, however, 2.4% lower than the $1.57 billion received in the preceding quarter. Read more…
Investors earn N68.63 billion in three top Nigerian banks in August despite selling pressure
Despite sell pressure witnessed on the shares of some quoted companies listed on the floor of the Nigerian Exchange in the month of August, three top Nigerian Banks, Zenith Bank Plc, Ecobank and FBNH Plc gained about N68.627 billion in market capitalisation. Read more…
Nigeria generated N799 billion in revenue from oil in Q1 2022, a decline of 28%
Nigeria generated N799.10billion from the oil sector in the first quarter of 2022, which is indicative of a 28.3% decline from N1.11 trillion in the fourth quarter of 2021. Read more…
Equity market gains N105 billion to close last trading day of August positive
Trading activities on the floor of the Nigerian Exchange Limited (NGX) ended the last trading day of August with a gain of N105 billion in market capitalization as bulls regained their grip on the local stock exchange following gains recorded by blue chip firms. Read more…
Banks’ assets rise 22% to N65tn
Total assets in the Nigerian banking sector rose by N11.8bn in one year to N65.48tn as of the end of June 2022, representing a 22 per cent increase over the period. Read more…
$265m: Emirates makes a U-turn, to resume flights
There are strong indications that a Middle East carrier, Emirates Airlines, will resume flights in Nigeria within the shortest possible time. According to a notice sent to travel agents in Nigeria, the Dubai-based carrier said it would resume four-weekly flights to Nigeria. Read more…
Gas price rises 122%, and household incomes shrink
Amid the Federal Government’s N250bn intervention funds on the National Gas Expansion Plan, which intends to deepen usage across the country, data from the Nigerian Bureau of Statistics said on a year-on-year basis, the price of refilling a 12.5kg cylinder of Liquefied Petroleum Gas, also known as cooking gas, increased by 122 per cent from N4,422 in July 2021. Read more…
Naira falls to N453/$1 during intra-day trading at the official market
Naira closed on a positive note on Wednesday, 31st August 2022, gaining 0.36% to close at N429.44/$1 compared to N431/$1 recorded in the previous trading session. A total of $109.47 million in FX value exchanged hands on Wednesday. Read more…
Fidelity Bank’s acquisition of a loss-making Union Bank UK could cost over N20 billion
Fidelity Bank Plc informed investors it has agreed to buy 100% of Union Bank UK, a subsidiary of Union Bank Plc which earlier in the year was acquired by Titan Merchant Bank. Read more…
Equities rebound as gains in Guinness, 19 stocks lift indices by N104b
After two days of losses, the Nigerian Exchange Limited (NGX) staged a rebound at the close of transactions for the month of August yesterday, as gains in Guinness and 19 others lifted market capitalisation by N104 billion. Read more…
Quote of the Day
"Failure will never overtake me if my determination to succeed is strong enough."
—Og Mandino