trillion

The Nigeria Extractive Industries Transparency Initiative (NEITI) has revealed in its latest report that a total of N10.143 trillion was shared among the federal government, states, and local government councils from the federation account as statutory revenue allocations in 2023. According to a statement released Tuesday by its spokesperson, Obiageli Onuorah, the disclosure aims to enhance public accountability in the country’s public finance. She said the Executive Secretary of NEITI, Orji Ogbonnanya, made this…

Transcorp Power Plc, the power generation spinoff of Transnational Corporation of Nigeria (Transcorp), advanced 10 per cent in market value on its debut in Lagos on Monday. The company’s shares closed at a cumulative value of N1.98 trillion against N1.8 trillion at the beginning of trade. The power utility listed 7.5 billion shares at N250 per unit, which were admitted to the Nigerian Stock Exchange (NGX)’s main board, the listing segment for companies with high standards of disclosure and corporate governance.…

Nvidia's stock market value closed above $2 trillion for the first time on Friday after an upbeat report from Dell Technologies reignited Wall Street's AI-fueled rally.Nvidia's stock added 4% after Dell, which sells high-end servers made with Nvidia's processors, gave an upbeat forecast late on Thursday, pointing to a surge in orders for its AI-optimized servers. Elevate Your Tech Prowess with High-Value Skill CoursesOffering CollegeCourseWebsiteIndian School of BusinessISB Professional Certificate in Product…

Transnational Corporation of Nigeria, the country’s biggest conglomerate by market value, will list the shares of its spinoff power generating arm Transcorp Power by way of introduction in Lagos on Monday, the Nigerian Exchange Limited said in a Friday statement. The plan is for 7.5 billion shares to be quoted at N240 per unit, putting its valuation at N1.8 trillion. Meanwhile, Transcorp which also has hospitality, agribusiness and real estate among its subsidiaries, and which is the parent company under which…

Dangote Cement hauled in record windfall income after converting net investments in foreign operations into the naira, more than doubling the company’s comprehensive income to N1 trillion. Comprehensive income, the cash earned from profit after tax in addition to extraordinary gains outside the regular sources of income of companies, climbed 150 per cent from N405.4 billion a year earlier, its audited earnings report showed Friday upon release. Nigeria’s currency crisis has been complicated by a slide of over 70…

Crypto market update: Solana (SOL) price surges 7% amid the crypto market’s $2 trillion milestone Crypto news: Solana (SOL) surged to a high of $133 following Bitcoin’s rally to $64,000, boosting the broader cryptocurrency market. With an 11% jump in the past 24 hours, SOL reached its highest price since April 2022, marking a 33% increase in just one week. Currently, Solana’s price is $133.02, marking a 7.09% increase over the last 24 hours. This recent price movement has brought Solana’s market…

Digital Public Infrastructures (DPIs) are poised to propel India towards a $1 trillion digital economy by 2030, helping the country to become a $8 trillion economy, according a Nasscom-Arthur D Little report titled, “Digital Public Infrastructure of India - Accelerating India’s Digital Inclusion.”By 2030, DPIs will significantly enhance citizens' efficiency and promote social as well as financial inclusion, the report said. Mature DPIs such as Aadhaar, Unified Payments Interface (UPI), and FASTag have witnessed…

Imagine a housing project with a futuristic design and an ambitious scale reminiscent of a dystopian sci-fi setting that would cost billions of dollars. With the new footage of Saudi Arabia’s “The Line,” you don’t have to imagine it but simply envision yourself in the heart of it.The one trillion-dollar mega-city is currently under construction in Saudi Arabia, and the new photos showcasing its recent progress display what some may call a monstrosity of modern infrastructure. The project, essentially consisting of a…

Astronomers and researchers have been studying the Universe for decades with the help of advanced telescopes and equipment around the world. Now, with the help of the European Southern Observatory's (ESO) Very Large Telescope (VLT), astronomers have located the brightest object in Universe. It is a quasar. Experts believe that this is the most luminous object ever found in deep space. And the brightness does not stem from something ordinary. The quasar is said to be energized by what is reported to be the fastest-growing…

Bitcoin is riding high.The world's largest cryptocurrency has leapt 22% this year to $52,005, pushing it past a market value of $1 trillion mark for the first time since its record heyday of late 2021.Elevate Your Tech Prowess with High-Value Skill CoursesOffering CollegeCourseWebsiteMITMIT Technology Leadership and InnovationVisitIIM KozhikodeIIMK Advanced Data Science For ManagersVisitIndian School of BusinessISB Product ManagementVisitIts resurgence has electrified the broader cryptocurrency market, including ether…