Daily Business Headlines – AUGUST 29 2023


BUA Foods, SFS Real Estate, Others Lift Index By N324 Billion

Following gains recorded by many blue-chip stocks, especially BUA Foods and SFS Real Estate, transactions on the Nigerian Exchange Limited (NGX) reopened upbeat, yesterday, as market capitalisation appreciated by N324 billion. The all-share index (ASI) rose by 592.47 points, representing a gain of 0.9 per cent to close at 66,151.38 points… Read More


97% Of Nigerians Not Insured –NAICOM

The National Insurance Commission (NAICOM), has revealed that only three percent of Nigerians have insurance and 97 per cent do not have as they are undecided or not properly sensitised on the gains therein. To put it in perspective, the current population of Nigeria is estimated to be 200 million. Ninety-seven percent of that figure means about… Read More


NLC, FMBN Disagree Over N238bn National Housing Fund

The Nigerian Labour Congress and the Federal Mortgage Bank of Nigeria have disagreed over the management of the contributory National Housing Fund. The NHF is an offshoot of NHF Act of 1992 which mandates all employers in both the private and public sectors to make monthly remittances to the fund. It is an initiative of the Federal… Read More


Collaboration: AFRAA Joining Focus Africa Initiative

Focus Africa aims to maximise the contribution of aviation to development across the African Continent by better-serving passengers and shippers. Under Focus Africa, private and public stakeholders are committed to delivering measurable improvements in six critical areas – safety, infrastructure, connectivity, finance & distribution, sustainability, and… Read More



FEC Unfolds Three-Year Economic Revival Plan, Tinubu Warns Ministers

The Federal Executive Council on Monday unfolded a three-year economic revival plan to address the social and economic challenges affecting the country. The inaugural cabinet meeting, which was held at the council chambers of the Presidential Villa, Abuja, was presided over by President Bola Tinubu, who unveiled his vision for “economic… Read More

Customs, NPA Plan Synergy To Track Export Cargoes

The Nigeria Customs Service has said there is a need to form a joint team with the Nigerian Ports Authority in redefining export activities through the installation of trackers. The acting Comptroller General of Customs, Adewale Adeniyi, said this in a statement on Monday when he hosted the Managing Director of NPA, Muhammad Bello-Koko, in Abuja… Read More


Federal Government has ended borrowing –Finance Minister

The Federal Government says it has no intention to borrow from local or foreign organisations with its removal of subsidy on petrol and exchange rate harmonisation. The Minister of Finance and Coordinating Minister for the Economy, Chief Wale Edun, revealed this at the end of the inaugural Federal Executive Council meeting on Monday… Read More



UNGA: Only Officials With Direct Roles Can Travel To US – Tinubu

President Bola Tinubu has directed the Federal Ministry of Foreign Affairs to freeze the processing of visas for all government officials seeking to travel to New York in the United States for the United Nations General Assembly (UNGA) without proof of direct participation in the official schedule of activities. According to a statement issued on… Read More


Administration Of Criminal Justice Law, Critical, Sanwo-Olu Declares

Lagos State Governor, Babajide Sanwo-olu, has described the administration of criminal justice law as a critical part of Nigeria’s body of laws, which has undergone reforms at various levels with the overriding objective of facilitating fair and speedy dispensation of justice. The governor said Lagos State has been at the forefront in such… Read More



How NITDA Will Support Tinubu’s Job Creation Drive

There’s virtual panic in the sphere of human resource management about the spectre of artificial intelligence (AI) driving millions of people out of jobs. Indeed, given the almost limitless potential of AI to take on human functions – and deliver on them with predictable degrees of effectiveness and efficiency, the scenario is so bleak, you wonder… Read More