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Marketers Will Pay Naira for Dangote Fuel -IPMAN

Aliko Dangote Refined petroleum products from the $20bn Dangote Petroleum Refinery are to be sold in naira and not in the United States dollar as speculated in some quarters, oil marketers clarified on Monday. Dealers in the downstream oil sector also stated that the registration process for marketers at the refinery was still ongoing, as many operators had continued to register with the plant. It was further gathered that officials of the Nigerian Midstream and Downstream Petroleum Regulatory Authority were meeting with the management of the refinery to perfect the pricing template for products produced by the facility. On January 12, 2023, the Dangote Petroleum Refinery announced the commencement of production of Automotive Gas Oil, also known as diesel, and JetA1 or aviation fuel. The President, Dangote Group, Aliko Dangote, had in a statement issued by the firm, said, “We have started the production of diesel and aviation fuel, and the products will be in the market within this mon...
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NSE: Bullish trend persists

NSE Trading on positive trend

By nan

Transactions on the Nigerian Stock Exchange (NSE) on Thursday, maintained a positive trend due to impressive third quarter results declared by some quoted companies for the period ended Sept. 30, 2016.

The  market capitalisation inched N40 billion or 0.43 per cent to close at N9.355 trillion compared with N9.315 trillion posted on Wednesday.

Similarly, the All-Share Index which opened at 27,120.39 rose by 116.39 points or 0.43 per cent to close at 27,236.78 as a result of price appreciation.

NAN reports  that at NSE Total led the gainers’ table, growing by N29.72 to close at N319.72 per share.

Lafarge Africa came second with a gain of N4.11 to close at N48.62, while Unilever gained N1.99 to close at N50 per share.

Cadbury added N1.12 to close at N13 and Okomu Oil garnered 99k to close at N41 per share.

On the other hand, Seplat recorded the highest price loss, shedding N15 to close at N375 per share.

Forte Oil trailed with a loss of N6.05 to close at N117.45, while Flour Mills dipped 19k to close at N19.31 per share.

UAC Property lost 17k to close at N3.24, while Eterna Oil dropped 14k to close at N2.81 per share.

FBN Holdings was investors delight, exchanging 30.83 million shares worth N92.49 million.

Access Bank followed with an exchange of 19.69 million shares valued at N111.63 million and Transcorp sold 13.97 million shares worth N13.97 million.

Diamond Bank transacted 10.89 million shares valued at N12.40 million, while Unilver traded 10.71 million shares worth N535.58 million.

In all, investors bought and sold a total of 155.59 million shares valued at N1.76 billion exchanged in 2,648 deals.

NAN reports the NSE recorded a turnover of 159.99 million shares worth N1.74 billion traded in 2,396 deals, on Wednesday.

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