The Nigerian Exchange Limited (NGX) reversed its previous gains yesterday as market capitalization fell by ₦119 billion, primarily due to widespread selling of high-value stocks. The All-Share Index (ASI) declined by 189.73 points (0.18%) to close at 104,187.00 points, while market capitalization dropped to ₦65.470 trillion. This downturn was driven by losses in medium and large capitalized stocks including Unilever Nigeria, PZ Cussons Nigeria, Ecobank Transnational Incorporated (ETI), Guaranty Trust Holding Company (GTCO), and United Bank for Africa (UBA). Sector performance showed mixed results with banking (-1.6%) and consumer goods (-0.2%) indices declining, while insurance (+2.7%) and oil & gas…

As an entrepreneur juggling many different responsibilities, you'll likely find that any illness will seriously set you back temporarily while you recover. But there's one that may have powerful, lasting effects on your business -- and extend far beyond a simple day or two of absence. It's called "shiny object syndrome," and if it's plaguing you, you'll need to take action if you want your business to thrive. "Shiny object syndrome" in action At its core, shiny object syndrome (SOS) is a disease of distraction, and it affects entrepreneurs specifically because of the qualities that make them unique. Entrepreneurs tend…

Neil Patel Seldom does success come easily in business. Not to be pessimistic, but most entrepreneurs who make it have inevitably faced a myriad of challenges along the way. That's just the way it is. And what has stunted their growth and success along the way hasn't necessarily been major obstacles or turbulent storms. It's been the distractions they've allowed to invade their lives. These are often subtle distractions, so entrepreneurs may not even know there's a problem until one day they wake up to see that their efforts have been derailed. The key to moving forward is being able…

Some of Nigeria’s leading companies incurred a combined forex loss of N2.17 trillion in the financial year 2024, according to data collated by Nairametrics from published financial statements. The sheer size and magnitude of the losses were so significant that they negatively impacted the bottom line for some firms. These staggering losses were largely triggered by the devaluation of the naira, following the Tinubu administration’s foreign exchange unification policy launched in June 2023. In context, the exchange rate opened 2023 at N461.5/$1, closed the year at N907.11/$1, and ended 2024 at N1,535/$1. This sharp devaluation led to massive FX losses…