Business New

The Nigerian stock market experienced a notable recovery, finishing last week’s trading with bullish sentiment as investors increased their wealth by N9.342 trillion.

Nigeria’s economy moved out of recession in June as the Purchasing Managers’ Index, PMI, improved to 50.1 points compared to 49.6 points in May, supported by consistent growth in the agricultural sector, even though the industrial and service sectors remain weak, as noted in the latest PMI Report released yesterday by the Central Bank of Nigeria, CBN.

FirstBank has actively supported the Imo State Government’s One Kindred One Business Initiative (ÓKÓBÌ), which is a community-focused entrepreneurship plan aimed at fostering job creation, enhancing financial inclusion, and encouraging sustainable wealth development through shared business ownership.

Mr. Taiwo Oyedele, the Minister of Finance and the Coordinating Minister of the Economy, stated yesterday that Nigeria could experience significant progress if the country can establish an effective tax system.

Oil distributors in Nigeria have persistently offered Premium Motor Spirit (PMS), commonly referred to as petrol, at high costs, even as there has been a significant drop in global crude oil prices, reverting to levels seen prior to the onset of the US-Iran conflict.

The Manufacturers Association of Nigeria (MAN) has voiced its worries regarding the significant drop in bank loans directed towards the manufacturing industry, cautioning that this situation could hinder industrial progress, increase joblessness, and threaten the success of the Nigeria Industrial Policy (NIP) 2025.