N418

The equities market on Monday opened the week on a negative note, shedding N418 billion due to losses in largely capitalised stocks. The All-Share Index decreased by 766.56 per cent, representing a decline of 1.48 per cent, to close at 51,127.38 points from 51,893.94. Similarly, the overall market capitalisation value lost N418 billion to close at N27.850 trillion from N28.267 trillion. The market’s negative performance was driven by price depreciation in large and medium capitalised stocks which are; MTN…

Abdul Samad Rabiu’s BUA Foods on Monday reported a profit surge boosting its bottom line for 2022 by 30 per cent compared to the preceding year, backed by a sales growth that shot revenue to a record N417.8 billion. The food company, which seized the prime spot from Nestlé Nigeria as the country’s biggest consumer goods firm by market value last January, currently carries a market capitalisation in excess of N1.3 trillion. BUA Foods went public barely a year ago after combining its flour, sugar, edible oil and…