Nigerian stocks gain N76bn amid pressure on Dangote Cement, Ardova

Nigerian stocks gained N75.906 billion on Tuesday amidst increased investors’ interest in the shares of Dangote Cement, Ardova, NASCON, Dangote Sugar and May & Baker. The All Share Index (ASI) was up by 0.36 per cent and closed 40,295.95 basis points. Market capitalisation edged up to N21.070 trillion, according to Nigeria Stock Exchange data. Year to date,... Continue Reading →

Dangote Invests N63bn In Enugu-Based Automaker, Buys 3,500 Trucks

Dangote Group has entered into a long-term agreement with an Enugu-based automaker, Transit Support Services Limited, for the supply of Shacman trucks being assembled at the Anambra Motor Manufacturing Company Limited’s factory in Emene, Enugu. Already, the group has purchased 3,500 trucks from the automaker worth N63bn, according to the Managing Director of the Transit... Continue Reading →

Dangote Remains Africa’s Richest Man, Adenuga Makes Top Three

Nigeria’s billionaire businessman and President/CEO of Dangote Group, Aliko Dangote, has topped Forbes Africa’s Billionaires list for 2020 for the ninth time in a row. The list according to Forbes captures only eight countries that have billionaires; Egypt and South Africa are tied with five billionaires each, followed by Nigeria with four and Morocco with two. Maintaining... Continue Reading →

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