Nigerian billionaires, Aliko Dangote, Abdulsamad Rabiu, and Mike Adenuga were listed in the ranking of richest people in Africa by Forbes, with a joint net worth of $27.6 billion, accounting for 32.5% of the total 18 billionaires on the list. The wealth of African billionaires has grown significantly in 2021 despite the effects of the […]
Following renewed profit taking activity, the equities market halted five days gaining streak to close on a downturn yesterday, causing market capitalisation to plunge by N20 billion. Specifically, at the close of trading yesterday, the NGX All-Share Index depreciated by 37.83 basis points to 43859.30 points from 43897.13 points reported the previous day. Similarly, market […]
Dangote Cement Plc Dangote Cement Plc said it would purchase 170 million units of its common stock from the open market in the latest phase of the share buyback scheme it launched in December 2020, a move hoped to drive its share price given that fewer shares will be available for trade on completion of […]
By Dipo Olowookere The Nigerian Exchange (NGX) Limited further appreciated by 1.01 per cent on Thursday amid renewed interest in local stocks, with Dangote Cement, Cadbury Nigeria and others enjoying the patronage of investors. This sustained growth is making the All-Share Index (ASI) inch closer to 46,000 points as it further grew by 460.38 points […]
Alhaji Aliko Dangote The chairman of the Dangote Group and African Billionaire, Aliko Dangote, gained a massive N218 billion from his Dangote Cement Plc stake after the cement company completed a share buy-back program on the Nigerian Exchange Limited (NGX). The richest man in Africa currently holds the majority stake in Dangote Cement Plc, to […]
Dangote Cement Plc has announced the completion of its second tranche of share buy-back programme which lasted for two days, from January 19 – 20, 2022. The Tranche II of the programme entailed the repurchase of 126,748,153 units of shares, representing 0.74% of the Company’s issued and fully paid ordinary shares, at an average price […]
Floor of the Nigerian Stock Exchange Market Nigerian stocks scaled up by 1.29 per cent (or N324 billion) on Wednesday, on track for another week of positive yield as telecom powerhouse Airtel and Ecobank Transnational Incorporated (ETI) led the advance. Airtel continued to draw interest from investors, garnering 10 per cent gain, the maximum daily […]
The combined market capitalization of stocks worth over one trillion (SWOOTs) appreciated by 4.21% to close at N17.78 trillion from N17.06 trillion the previous week, reflecting a gain of N717.92 billion. Stocks included in this classification are AIRTELAFRICA, BUA CEMENT, DANGOTE CEMENT, NESTLE, MTNN Plc, and recently, BUA FOODS. Stock Performance Airtel Africa Plc – […]
Kyari Although the Nigerian National Petroleum Company Limited (NNPC) has remained a loss-making entity for decades, the Chief Executive Officer, Mele Kyari, said the company is now striving to become the most profitable company in Africa. While Dangote Cement with market valuation and profit after tax of N4.35 trillion and N278 billion, respectively, in the […]
·Analysts say MPC outcome will set the tone for new market direction Investors continued to position for dividend-paying stocks, last week, triggering more bargain-hunting activities on the equities sector of the Nigerian Exchange Limited (NGX) as the all-share index (ASI) rose above the 45,000 mark to close at 45,957.35 points – the highest level since […]
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