Industrial Sector

American financial services giant Stripe has acquired Nigerian fintech startup Paystack to expand into the fast-growing online market in Africa, the companies said on Thursday. The acquisition, reportedly worth $200 million, further deepens the growing interests of fintech giants in the ever-expanding online commerce sector of Nigeria and Africa at …

The Manufacturers Association of Nigeria Export Promotion Group (MANEG), has urged economic managers to declare force majeure on the African Continental Free Trade Agreement… The post Non-oil exporters seek force majeure on AfCFTA as incentives stall appeared first on The Guardian Nigeria News – Nigeria and World News. Read More

The International Monetary Fund (IMF) has predicted that Nigeria’s Gross Domestic Product (GDP) will contract by 4.3 per cent, which indicates an improvement compared with a negative GDP projection of 5.4 per cent it had predicted in its previous report in June. This is coming as the federal government has …

The Manufacturers Association of Nigeria (MAN), has called on the Federal Government to prevail on the Electricity Distribution Companies (DisCos) to regularise the varying cost… The post ‘Electricity tariff disparity in manufacturing zones affecting competitiveness’ appeared first on The Guardian Nigeria News – Nigeria and World News. Read More

The Lagos Chamber of Commerce and Industry (LCCI), and Small and Medium Enterprise Development Agency of Nigeria (SMEDAN), have urged entrepreneurs to be financially-disciplined… The post LCCI, SMEDAN advocate financial discipline for SMEs’ survival appeared first on The Guardian Nigeria News – Nigeria and World News. Read More

Dutch dairy company, FrieslandCampina WAMCO Nigeria PLC, in partnership with key stakeholders has concluded plans to unveil Nigeria’s first expertise Centre for dairy development. The post Expertise centre for dairy development to build Nigeria’s local capacity appeared first on The Guardian Nigeria News – Nigeria and World News. Read More

The Chief Executive Officer of the Nigerian Stock Exchange (NSE), Mr. Oscar Onyema, has identified the Central Bank of Nigeria’s (CBN) restriction of domestic investors from participating in its open market operations (OMO) as well as the interest rate cut as policies that have continued to buoy the stock market …

The Chairman Odu’a Investment Company Limited Board, Dr. Segun Aina, has said the conglomerate made profit before tax of N890 million for the 2019 financial year. He made the disclosure at the company’s corporate headquarters, Cocoa House building, in Ibadan, the Oyo State capital, while addressing the company’s shareholders during …

The equities market recorded another slide yesterday as profit-taking persisted after a 12-day rally was halted on Wednesday. The Nigerian Stock Exchange (NSE) All-Share Index (ASI) depreciated by 0.31 per cent to close at 28,546.22, while market capitalisation shed N46.1 billion to be at N14.9 trillion. The negative performance was …

The rally at the stock market was halted yesterday after 12 days as investors moved in to lock in profit accumulated during the bull run. As a result, the Nigerian Stock Exchange (NSE) All-Share Index (ASI) fell 0.95 per cent to close at 28,634.35, while market capitalisation shed N143.7 billion …