Daily Business Headlines – DECEMBER 06, 2023


Equities Market Rebounds As Banking Stocks Drive N166bn Gain

The Nigerian Exchange Limited (NGX) witnessed a rebound in its equities market on Tuesday, propelled by a rally in banking stocks. The market had initially started the week on a negative note, experiencing a 0.57 per cent decline on Monday. However, Tuesday’s resurgence saw a remarkable improvement of 0.43 per cent, adding 303.34… Read More


Extend BVN/NIN Deadline, POS Operators Tell CBN

Stakeholders in the economy have urged the Central Bank of Nigeria to extend the deadline to enforce its new directives to banks to ensure customers link their Bank Verification Number and National Identification Number to bank accounts. They expressed concerns that some customers may delay in complying, and wait till the deadline neared… Read More

Auction: Presidential Aircraft Bidders Get December 24 Deadline

Bidders for the Falcon 900B aircraft, a prominent member of the presidential air fleet, which has been put on sale by Nigeria Air Force, have until December 24 to submit their applications. NAF, on Monday, officially announced its plan to sell the Falcon 900B aircraft to willing buyers. The call for interested buyers to submit their bids was… Read More


Investing Pension Assets Offshore Will Be More Profitable – Aganga

Former Minister of Industry, Trade, and Investment, Mr. Olusegun Aganga has revealed that following the devaluation of the naira and rising inflation in the country, it has become imperative for Nigerian pension fund managers to invest a portion of their assets offshore and in index/inflation-linked instruments. Aganga who spoke at a training… Read More



COP 28: AFDBG Set Aside $1bn Insurance Cover For African Farmers

African Development Bank Group (AfDBG) has presented its planned $1billion facility to provide insurance coverage to more than 40 million farmers across the continent against severe impacts of climate change. The facility was widely lauded by the World Food Programme (WFP), development agencies, insurance operators and the… Read More


Nigeria Urged To Leverage AFCFTA’s Trade-In-Service

Stakeholders have said that Nigeria is not harnessing the opportunities trade-in service offers under the African Continental Free Trade Agreement (AfCFTA) as it accounts for about 60 per cent of the gross domestic product (GDP) of the country. They said this during a roundtable on the AfCFTA and trade-in-services organised by the Centre for… Read More

House Of Representatives Faults MOFI’s Assessment, Estimates Federal Government’s Assets At $100 Billion

The House of Representatives Committee on Public Assets, yesterday, in Abuja put the value of Federal Government assets at $100 billion, insisting that there is urgent need to safeguard the assets against looting. The lawmakers are also worried over the wrong valuation of the assets as they stressed the need for proper documentation… Read More



2024 Budget: Tinubu, Shettima, Aides To Spend N15.961bn On Local, Foreign Trips

President Bola Tinubu,   Vice President Kashim Shettima and theirs aides at the Presidential Villa are to spend the sum of N15.961 billion on international and local travels in 2024. The figure is contained in the 2024 Appropriation Bill, now being considered by the National Assembly. The breakdown of the figure showed that President Tinubu would… Read More


NLC Seeks New National Minimum Wage Commensurate With Cost Of Living

Nigeria Labour Congress (NLC) has said negotiation of a new national minimum wage in 2024 would be based on the prevailing cost of living in the country. Its President, Joe Ajaero, said this at the ongoing 19th edition of the NLC 2023 Harmattan School, organised by the Congress, yesterday, in Abuja. The theme of the event is “Building workers… Read More



Federal Government needs $2 billion to lay fibre optic cables across Nigeria — Minister

Bosun Tijani, the Minister of Communications, Innovation, and Digital Economy, has stated that the construction of fibre optic cables nationwide in Nigeria is estimated to require a $2 billion investment.  Tijani shared this information on Tuesday while featuring in an interview on Channels TV. He added that his ministry, working alongside the Nigeria… Read More