Daily Business Headlines – DECEMBER 04, 2023

GUARDIAN

Equities Record N38.6b Turnover As Financial Stocks Dominate Activities

At the end of transactions last week, a turnover of 2.5 billion shares worth N38.6 billion was recorded in 36,138 deals by investors on the trading floor of the Nigerian Exchange Limited (NGX). This volume of shares traded was, however, higher than a total of 2.4 billion units, valued at N22.7 billion that exchanged hands in 33,230 deals on November… Read More

Insurance Industry’s Total Assets Hit N2.8 Trillion

The Nigerian insurance industry’s total assets rose to N2.8 trillion at the end of Q3, National Insurance Commission (NAICOM) has said. NAICOM disclosed this in a document titled: “Nigerian Insurance Market at a Glance – Q3, 2023. A breakdown of the statement shows that total assets for non-life stood at N1.74 trillion, while total assets for life… Read More

SUN

Federal Government To Commence Disbursement Of Grants, Loans To Businesses

As part of the Presidential Palliative Programme, the Federal Government of Nigeria has announced the kick-off of two programmes targeted at alleviating the impact of the fuel subsidy removal – the Presidential Conditional Grant Programme and the Presidential Palliative Loan Programme.  This was contained in a recent statement issued… Read More

Relief For Tax Debtors As FIRS Waives Penalties, Interests

Tax debtors in Nigeria can now heave a sigh of relief as the Federal Inland Revenue Service (FIRS) has waived all accumulated penalties and interests on outstanding liabilities. The move is to galvanise them to defray all existing tax debts and avoid possible litigation in future. Chairman of FIRS, Zacch Adedeji, made the disclosure in a public… Read More

ECONOMY HEADLINES

SUN

Nigeria’s Total FX Inflows Surge In November, Hit $1.43bn

The Central Bank of Nigeria’s (CBN) initiatives at increasing FX supply got a huge boost as data obtained from FMDQ at the weekend, revealed that total inflows into the Nigerian Autonomous Foreign Exchange Market (NAFEM) increased by 15.6 per cent month-on-month (m/m) to $1.43 billion in November. Total inflows into NAFEM had… Read More

INTELS Waives $193m Debt To Resolve Service Boat Contract – NPA

The Nigerian Ports Authority (NPA) yesterday, said that INTELS Nigeria Limited waived $193 million as part of efforts to resolve the stalemate on the pilotage contract with the Federal Government. The NPA insisted that the agreement reached with INTELS was done in national interest, adding that revenue generation will increase as a result of… Read More

GUARDIAN

France Pledges Energy Support For Nigeria

The French Minister for Foreign Trade, Economic Attractiveness and French Nationals Abroad, Olivier Becht, has pledged to support the Nigerian government and private sector in the area of energy. Speaking at the French-Nigerian Economic Summit in Lagos, Becht, said that French businesses already have a strong presence in Nigeria, with RTE-… Read More

POLITICAL HEADLIINES

SUN

Godfathers Battle Successors In Rivers, Nasarawa, Delta, Bayelsa, Others

Nigeria’s political landscape since the beginning of the Fourth Republic, has witnessed key and significant phases. One of them is the metamorphosis of political godfatherism from mentorship to control. Like Chinua Achebe’s assertion in ‘Things Fall Apart’, that “…since men have learned to shoot without missing, he (Eneke, the bird) has learned… Read More

THISDAY

Abdullahi: Federal Government Working to Reverse Food Crisis, Harps on Improved Seeds

The Minister of State for Agriculture and Food Security, Senator, Dr. Aliyu Sabi Abdullahi, has said the ministry is currently working with critical stakeholders to reverse the current food crisis situation in the country. He said to reach food self-sufficiency or improve current food self-sufficiency levels, there’s the need to attain all potential crop… Read More

TECHNOLOGY HEADLINE

GUARDIAN

Experts Underscore Importance Of Tech To Growing $20b Event Industry

The players and stakeholders in the event business in Nigeria have advocated the adoption of technology to deepen the craft of event business and grow the industry that is at present valued at about $20b. This assertion was made during the masterclass sessions of the 2023 BusyBee Event Business Summit in Lagos themed: ‘Tech in Event Business… Read More