Daily Business Headlines – DECEMBER 01, 2023


Nigerian Stocks Close 0.11% Higher On Last Day Of November 2023

The last trading day of November 2023 on the floor of the Nigerian Exchange (NGX) Limited ended on a bullish note by 0.11 per cent on Thursday. Mild bargain-hunting in industrial goods equities like Lafarge Africa, supported by Airtel Africa, GTCO and other financial stocks left the market in the green territory at the close of business… Read More


94.5m Nigerians Starving – Federal Government

Except something dramatic happens, no fewer than 94.5 Nigerians will face insufficient food consumption as the estimated 88.5 million already experiencing the pangs of hunger would be joined by six million others by the end of this month. Senior Special Assistant to the President on Agribusinesses and Productivity Enhancement (SSAP)… Read More

N135bn CBN Funds: Senators Threaten Oil Firms, As Affected Companies Fight Back

Senators who are members of the Senate Committee on Gas Resources probing the N135 billion Central Bank of Nigeria (CBN) intervention funds to some firms in the oil and gas sector, have threatened to involve the anti-graft agencies to recover the money from defaulting beneficiaries. The lawmakers issued the threat when 14 of the… Read More


Improve On Business Environment To Attract FDIs, Ops Tells Tinubu

The Organised Private Sector of Nigeria (OPSN) has urged President Bola Tinubu to enhance the business environment to attract foreign direct investments (FDIs), emphasising the need for a conducive atmosphere to retain local businesses and attract foreign investments. The move came following Tinubu’s recent business trip to the… Read More



Federal Government Exceeds Revenue Target As Debt Servicing Gulps Over N5trn In 9 Months

The Federal government achieved a 104 percent pro-rata target of N8.28 trillion, as its total revenue for January to September 2023 stood at N8.65 trillion. This was disclosed by Abubakar Atiku Bagudu, the Minister of Budget and Economic Planning, during the public presentation of the FGN 2024 Budget Proposals held in Abuja on Wednesday… Read More


Federal Government Targets 1million Jobs Through Export Programme

he federal government has revealed that it is targeting 1 million jobs through the National Talent Export Programme (NATEP), which was launched to improve Nigeria’s export. Minister of Industry, Trade and Investment, Doris Uzoka-Anite made the disclosure Thursday in Abuja at the closing ceremony of the 2023 National Skills Development… Read More


LCCI Urges Federal Government To Improve CAPEX Budget Performance, Look Beyond Oil Revenues

Director-General of the Lagos Chamber of Commerce and Industry (LCCI), Dr Chinyere Almona, has urged the federal government to, as a matter of urgency, improve its budget performance in terms of capital expenditure in 2024. Speaking in Lagos, Almona said the performance of the capital expenditure has been very low relative to the… Read More



Shettima In Anambra, Commissions Emeka Offor Projects

Vice President Kashim Shettima, yesterday, inaugurated various projects initiated by the Chairman, Chrome Group, Emeka Offor in Oraifite, Ekwusigo Local Government Area, Anambra State. Among the projects inaugurated included an electric meter production factory, Ijele FM Igbo radio Station, phase two of Sir Emeka Offfor Touch… Read More


New Wage Begins April, Federal Government Votes N24tn For Salaries

The Federal Government on Thursday said a new minimum wage regime would come into effect on April 1, 2024. The Minister of Information and National Orientation, Idris Mohammed, who disclosed this in an interview with The PUNCH in Abuja, said the current N30,000 minimum wage would expire at the end of March 2024. Mohammed… Read More



Telecoms Drives ICT Sector As Contribution To GDP Hits 16%

Contribution of the Information and Communications Technology (ICT) sector have added 15.97 per cent growth to Nigeria’s real Gross Domestic Product (GDP) in Q3 2023, largely driven by the telecommunications industry. The National Bureau of Statistics (NBS) disclosed this in the Q3 GDP statistics released at the weekend. This showed… Read More