BUSINESSPOST

Bears Remain Glued to Stock Exchange After N62bn Loss

The Nigerian Exchange (NGX) Limited shrank by 0.11 per cent on Tuesday after the bears extended their stay at the bourse on the back of sustained sell-offs in blue-chip equities like MTN Nigeria, GTCO, Zenith Bank and others. The value of the stock exchange depreciated by N62 billion during the session to N59.116 trillion from N59.178 trillion, as… Read More

BUSINESSDAY

Manufacturers’ Credit Sales Growth Slows On Rising Inflation

Eleven consumer firms sold fewer goods on credit last year compared to 2022 as the rising inflationary pressures impacted their financial performance, according to data compiled by BusinessDay. The latest financial statements of the firms show that the total trade and other receivables increased by 40 percent to N843.8 billion from N602.5 billion. The… Read More.

PUNCH

Support Renewable Aviation Fuel Production, IATA Tells Governments

In a bid to address the pressing need for sustainable aviation fuel production, industry operators have urged governments to implement incentives and enact favourable policies. With a growing emphasis on reducing carbon emissions and mitigating environmental impact, the aviation sector globally is under increasing pressure to transition… Read More

THISDAY

Customs Seeks to Operationalise AEO Concept to Ease Business at Ports

The Comptroller-General of Customs (CGC), Mr. Adewale Adeniyi, yesterday pushed for the deployment of the Authorised Economic Operators (AEO) programme to enhance the efficiency and predictability of trade facilitation efforts in the country. Essentially, the AEO status is an internationally recognised standard indicating that the business… Read More

ECONOMY HEADLINES

VANGUARD

CBN Lifts Foreign Exchange Restrictions On Dairy Products

The Central Bank of Nigeria (CBN) has lifted the restrictions on the importation of milk and dairy products. On February 11, 2020, the CBN had added milk and dairy products to the list of items not eligible for forex. However, in a notice to customers, Zenith Bank said the regulator had provided an update on However, in a notice to customers… Read More

PUNCH

‘3% Growth Rate May Double Poverty Level By 2050’

A member of the Monetary Policy Committee of the Central Bank of Nigeria, Aloysius Ordu, has warned that if the Nigerian economy continues to grow at three per cent, the country’s level of poverty may double by 2050. He stated this was at the last MPC meeting, which was published on the website of the apex bank on Monday. During the meeting… Read More

THISDAY

NNPC to Take FID on $25bn Nigeria-Morocco Gas Pipeline in December 2024

Group Chief Executive Officer (GCEO) of the Nigerian National Petroleum Company Limited (NNPCL), Mr. Mele Kyari, yesterday said the Final Investment Decision (FID) on the Nigeria-Morocco Gas Pipeline (NMGP) Project will be taken in December 2024. Kyari also advocated a differentiated approach to attaining energy transition for the… Read More

POLITICAL HEADLINES

THENATION

Tinubu Writes Reps, Seek Passage Of Bill To Improve Judicial Officers Welfare

President Bola Ahmed Tinubu has asked the National Assembly to consider and pass a new Bill seeking to provide new salaries and allowances for the nation’s judicial officers. In a letter read yesterday during plenary by Speaker Tajudeen Abbas, the President said the Bill seeks to proscribe salaries and allowances as well as other fringe benefits… Read More

NAIRAMETRICS

Senate Increases 2024 FCT Budget By N135 Billion, Approves N1.28 Trillion

The Senate has approved the 2024 Statutory Budget for the Federal Capital Territory (FCT), amounting to N1.282 trillion- an increase of N135 billion from the figure initially proposed by the Ministry of FCT. This approval came following the review of the combined report from the Senate and House of Representatives Committees on FCT during the… Read More

TECHNOLOGY HEADLINES

PUNCH

Developing AI Regulation Challenging, Says NCC

The Executive Vice Chairman of the Nigerian Communications Commission, Aminu Maida, has said developing regulations and policies for artificial intelligence deployment remains challenging due to rapid technological advancement. According to Maida, the dynamic nature of AI necessitates constant adaptation and innovation in regulatory… Read More