Daily Business Headlines – DECEMBER 07, 2023


Sustained Buying Interest Lifts Stock Market Index 0.78%

Sustained buying interests in the shares of some high-cap stocks, particularly banking stocks like GTCO, AccessCorp, FBNH, Zenithbank UBA, FCMB and MTNN Plc lifted the Nigerian Exchange Limited (NGX) All-Share Index (ASI) 0.78 per cent at the close of trade on Wednesday. This resulted to investors earning a whopping N305.60 billion… Read More

Manufacturers Bemoan Low Level Of Industrialisation

Manufacturers in the country have decried the low level of industrialisation in the country, stressing the dream of being counted among the big manufacturing powers of the would remain an illusion until the major constraints that affect ease of doing business are resolved. For the operators, achieving a stable rapidly-growing economy would require… Read More


Banks To Disconnect Non-Deposit Financial Institutions From Transfer List

Banks have been asked to disconnect Switches, Payment Solution Service Providers, and Super Agents from the Nigeria Inter-Bank Settlement System Instant Payment Outwards System. The NIBSS disclosed this in a circular dated December 5, 2023, with Ref: NIBSS/BD/NI/PO/005/051223 to banks. According to the national payment… Read More

Federal Government To Spend N100bn On Auto-Gas, CNG Buses, EVs

The Presidential Compressed Natural Gas Initiative says N100bn has been earmarked to facilitate the deployment of CNG buses across the nation. This information was contained in a statement released on Wednesday. The initiative noted that part of the fund would be used to fund the adoption of auto-gas and electric vehicles, paving the way for… Read More



Federal Government Taps Non-Interest Finance To Achieve $1trn GDP Growth

Minister of finance & coordinating minister of the economy, Mr Wale Edun has said federal government will tap into non-interest finance market to drive its $1 trillion GDP growth target by investing massively in infrastructure. “The funding that has to be raised, non-interest financing will be a critical part of it,” Mr Edun said yesterday at the 1st SEC… Read More


TCN, Discos To Complete 53 CBN-Funded Projects In May

The Central Bank of Nigeria, Transmission Company of Nigeria, and power distribution companies will in May next year complete a total of 53 power projects worth N122bn currently under construction across the country. During a tour of three of the projects located at Ojo, Isolo and Oworonshoki Transmission stations in Lagos on Wednesday… Read More

NNPCL Seals Gas Deals For Domestic, International Markets

The Nigerian National Petroleum Company Limited, on Wednesday, announced that it had signed two major agreements to deliver Liquefied Natural Gas to the domestic gas market and the international LNG market. It said the agreements were signed during two separate signing ceremonies held on the sidelines of the ongoing United Nations… Read More



NJC Approves Nwosu-Iheme, Sankey, Tsammani, 8 Other As Supreme Court Justices

The National Judicial Council (NJC) has recommended 11 successful candidates to President Bola Tinubu for appointment to fill the vacant position as justices of the Supreme Court. The Council equally recommend the appointment of one Justice of the Court of Appeal and heads of various courts. The recommendations which were… Read More


2027: Tinubu Will Integrate South-East In National Politics – Ganduje

National Chairman of the All Progressives Congress, Abdullahi Umar Ganduje has said President Bola Tinubu was determined to integrate the southeast region fully into the ruling party ahead of the 2027 general elections. Addressing the party faithful at the party national secretariat in Abuja, the former Kano State Governor said the accommodation… Read More



Poor Telecoms Services May Mar Yuletide Season

Drop in the state of telephony services in the last few weeks may be a pointer to poorer services during the yuletide, which is around the corner. Checks by The Guardian showed that both data and voice services across the networks of the Mobile Network Operators (MNOs) in the last 25 days have been very poor. This is coming, amidst… Read More