Daily Business Headlines – April 20 2023


Nigerian Stock Market Closes Positive With Market Capitalization Up N18 Billion

The Nigerian Exchange (NGX) closed positive amidst buy-interests and sell-offs as bulls regain dominance, driving up the broad market.The All-share Index (ASI) appreciated by 0.07% to close at 51,178.41 points. In the same vein, Market Capitalization grew by N18 billion to close at N27,870 trillion while the Year-to-Date (YtD) returns… Read More


Federal Government Approves N15bn NSITF Infrastructure Upgrade Concession

The Federal Government on Wednesday in Abuja, approved the second phase of the electronic Nigeria Social Insurance Trust Fund, which will enable concessionaires to upgrade the infrastructure at N15bn.Minister of Labour and Employment, Dr Chris Ngige, disclosed this to State House Correspondents at the Federal Executive… Read More

Customs Blame Monetary Policy For Drop In Import Volume

The Kirikiri Lighter Terminal of the Nigeria Customs Service has attributed the drop in import volume to the effect of the monetary policy. A statement signed by the Customs Area Controller in charge of the command, Timi Bomordi, said that the command collected a total of N10m from imported goods, adding that the amount represented… Read More


Excess Crude Account Down To $474,754, Says FAAC

The Federation Account Allocation Committee (FAAC) shared N714.629 billion among the federal, 36 states, Federal Capital Territory (FCT) and the 774 local government councils in March. This was contained in a communiqué issued at the end of the FAAC meeting for April 2023. The N714.629 billion total distributable revenue consisted of… Read More



Federal Government, States, Local Government Share N714.629bn March FAAC Revenue

The Federation Account Allocation Committee has shared a total sum of N714.629 billion as March 2023 Federation Account Revenue to the federal, state and local governments. This is contained in a communiqué issued at the end of April 2023 FAAC’s meeting. The amount includes gross statutory revenue, value-added tax, exchange gain, and… Read More


Nigeria, others to rake in $4.2 billion from open market treaty

The African Civil Aviation Commission (AFCAC) said the implementation of the Single African Air Transport Market (SAATM) will contribute $4.2 billion to the continent’s Gross Domestic Product (GDP), create 600 million jobs and, grow air traffic by 51 per cent in three years with additional 16 million air travellers. AFCAC further revealed… Read More

40 Days To Go, FEC Approves Over N100b Contracts

With less than 40 days to go, the Federal Executive Council (FEC) meeting presided over by Vice President Yemi Osinbajo, yesterday, approved a number of contracts running into billions of naira. Also, despite warning on Tuesday, by two Senior Advocates of Nigeria that asked the Attorney General of the Federation (AGF), Abubakar Malami, to… Read More



Adamawa: How I contested against those in Abuja who feel they own Nigeria – Gov Fintiri

Adamawa State Governor, Ahmadu Umaru Fintiri has accused some politicians with federal power of trying to truncate his victory at the just concluded gubernatorial election in the state. DAILY POST recalls that after several controversies that trailed the conduct of the election, the Independent National Electoral Commission, INEC, declared the governor… Read More


Presidency Tackles Gov Ortom, Lists Steps Buhari Took To Address Benue Killings

Garba Shehu, the media aide to the president, in a statement on Wednesday, said it is wrong to blame the security situation in Benue State on Mr Buhari, stating that the president had taken personal steps to address the problem. Mr Shehu was reacting to separate editorials by the Daily Trust and ThisDay newspapers on the recent upsurge… Read More



NCS Launches TechMinds Initiative to Develop Digital Skills in Children

Nigeria Computer Society (NCS), the umbrella body of all Information Technology (IT) professionals in the country, has launched a digital skills programme known as the NCS TechMinds Initiative, designed to develop digital skills in children within the ages of eight years and 16 years.  Speaking at the historic launch of the initiative in…Read More