Featured Archives - Business Metrics

How 15,634 Retirees Withdraw N7.79BN to Exit Pension Scheme

FG Ready to Disburse N66Bn Pension Arrears

The Federal Government has released has said payment of N66 billion pension arrears will commence next week. The money is part of the N88 billion budgeted...

Economy1 day ago

Aggressive Borrowing Pushes FG’s Domestic Debt Stock to N66.957 Trillion

The Debt Management Office (DMO) has announced that the federal government’s domestic debt stock reached N66.957 trillion by the first half of 2024, representing an 8.74%...

Energy1 week ago

$26BN African Gas Pipeline Project Receives Boost to Connect 13 African Countries

Nigerian Government, the Economic Community of West African States, alongside Morocco and Mauritania, have expressed their commitment to push forward in the development of the African...

Technology1 week ago

Equinix Appoints Wole Abu as MD for West Africa as Funke Opeke Steps Down

Equinix, Inc. has appointed Wole Abu as its Managing Director in West Africa to lead the integration and expansion of the business. According to Equinix, in...

Foreign Appetite for Nigerian Stocks Wanes as Outflow Hits N385.9 Billion in 9 Months Foreign investors are increasingly losing appetite in the Nigerian stock market as activities in the first nine months of the year shows withdrawal of investment. During the period, portfolio investors invested N310.99 billion on stocks even as they sold off more equities worth N385.89 billion, amounting to a net foreign outflow of N72.9 billion. In the nine-month period under review, the Nigerian Exchange recorded N3.968 trillion in equities trading and this was primarily driven by strong domestic investor participation The while the figure represents a remarkable increase from the N2.712 trillion worth of stocks traded during the same period in 2023, foreign investors contributed the least while domestic counterparts continued to dominate the space. Expatriates in the market were responsible for just N696.88 billion, accounting for 17.56% of the total value of stocks traded, while domestic investors dominated the market with N3.271 trillion, or 82.44% of total trading volume The latest Foreign Portfolio Investment report highlights the performance of domestic investors, with retail investors trading N1.739 trillion worth of stocks and institutional investors contributing N1.531 trillion during the nine-month period. Investments in September 2024 In September 2024, total transactions on the Nigerian Exchange saw a month-on-month increase of 29.90%, rising from N379.52 billion (approximately $237.70 million) in August to N493.01 billion (about $307.84 million). This is a notable improvement compared to September 2023, where total transactions were valued at N295.80 billion, marking a 66.67%t increase year-on-year. In September 2024, domestic investors outperformed foreign investors, executing transactions valued at 84% more than their foreign counterparts. Domestic transactions rose significantly, with total domestic trading increasing by 40.23% from N322.05 billion in August to N451.60 billion in September. Conversely, foreign transactions saw a decline of 27.95%, dropping from N57.47 billion (about $35.99 million) in August to N41.41 billion (approximately $25.86 million) in September. The report also indicates that retail investors surpassed institutional investors, outperforming them by 28%. A closer look at the domestic market reveals that retail transactions increased by 59.42 percent, from N180.72 billion in August to N288.10 billion in September, while institutional transactions rose by 15.6%, from N141.33 billion to N163.50 billion during the same period.

Capital Market1 week ago

Foreign Appetite for Nigerian Stocks Wanes as 9-month Outflow Hits N385.9 Billion

Foreign investors are increasingly losing appetite in the Nigerian stock market as activities in the first nine months of the year shows withdrawal of investment. During...

Investors Lose N1.22 Trillion on Stocks amid Mixed Turnover

Markets2 weeks ago

Investors Lose N1.22 Trillion on Stocks amid Mixed Turnover

Equities investors in Nigeria were displeased with the outcome of weekly trading on the floor of the Nigerian Exchange Limited (NGX) as they parted with a...

Naira Struggles at NAFEM Despite $326.6m Boost in Reserves

Economy2 weeks ago

Naira Struggles at NAFEM Despite $326.6m Boost in Reserves

A boost of $326.64 million that lifted Nigeria’s foreign reserves to $39.77 billion failed to pacify further depreciation of the naira at the official market last...

Economy3 weeks ago

Nigeria, US at Equilibrium in N16.415 Trillion Annual Trade Deals – Official

Trade deals between Nigeria and the United State has maintained an equilibrium as the annual trade value between the two countries hit $10 billion equivalent to...

CBN Release N1.73 Trillion for Food Imports in Six Months

Economy4 weeks ago

CBN Release N1.73 Trillion for Food Imports in Six Months

The Central Bank of Nigeria (CBN) released $547.7m (N823.19bn at the official exchange rate of N1,503.3/$1, as of June 30, 2024) to Nigerians for the importation of...

News4 weeks ago

Sanwo-Olu, Ministers, Foreign Experts for UNILAG’s Int’l Week on Digital Transformation

The University of Lagos (UNILAG) has unveiled lead speakers and invited guests for its fourth International Week to include Lagos State Governor Babajide Sanwo-Olu and four...