Daily Business Headlines – December 13, 2022


Stocks Gain N10bn As Week Opens

Equities trading on Nigerian Exchange Limited (NGX) opened this week on a positive note as increased buy-side activities pushed stock value higher by N10 billion on Monday, December 12. Nigerian Exchange Limited (NGX) All-Share Index (ASI) and its Market Capitalisation increased by 0.04percent or N10billion from the preceding… Read More


Businesses To Generate 50% Annual Revenue During Yuletide

Twenty-five per cent of small business owners expect to make more than half of their annual revenue in the final months of the year, according to Meta’s Global State of Small Business Report. According to the firm, its report revealed that small businesses were faced with the current state of the economy, supply chain disruption, inflation, the threat… Read More


25% SMBs To Make Half Their Annual Revenue In Final Months Of The Year – Meta

The festive season is a critical period for small businesses as a study from Meta’s latest Global State of Small business Report shows that 25 percent of SMB owners expect to make more than half of their annual revenue in the final months of the year. However, the study observed that as the COVID-19 pandemic wanes, the most significant… Read More


Oil Marketers Urge FG To Prepare Nigerians For Deregulation Amid Inefficient Subsidy

Stakeholders in the nation’s downstream sector were unanimous in their position as regards the need for the government to commence a dialogue with the Nigerian people on the necessity for deregulation to reduce inefficient subsidy, address local energy crisis and mitigate further shocks that the global economy may bring next year… Read More         



Nigeria Loses N264.43bn To Gas Flaring In 10 Months

Despite Nigeria’s dwindling revenue occasioned by massive oil theft, the country has continued to also suffer loss from its gas resources, as companies operating in the country’s petroleum industry flared 170.5 billion standard cubic feet (BSCF) of gas in 10 months, between January and October 2022, according to latest data from… Read More


Federal Government Appoints 5 Banks For Disbursement of N278.5bn CVFF

The Federal Government has appointed five commercial banks for the disbursement of the N278.5 billion Cabotage Vessel Financing Find, CVFF, 17 years after it commenced collection of the funds. The banks are Union Bank, Zenith Bank, Polaris Bank, United Bank for Africa, UBA, and Jaiz Bank. They will serve as Primary Lending Institutions… Read More


BoI, IFC Partner On Trade, Supply Chain Financing For MSMEs

The International Finance Corporation (IFC) and Bank of Industry (BoI) have partnered to strengthen trade and boost access to finance for micro, small and medium-sized enterprises (MSMEs) in Nigeria. Managing Director/CEO, Bank of Industry, Olukayode Pitan, during a trade and supply chain finance workshop in Lagos, said: “We are delighted… Read More



2023: INEC Commences Nationwide Distribution Of Pvcs

The Independent National Electoral Commission (INEC), on Monday, commenced the distribution of Permanent Voter Cards (PVCs) at its local government offices nationwide. The News Agency of Nigeria reporter who monitored the collection of the PVCs in FCT, reports that the exercise commenced simultaneously at INCE, FCT headquarters… Read More


2023: NLC To Engage Political Leaders On Pensioners

The Nigeria Labour Congress (NLC) says it plans to hold town-hall meetings across the country to engage political leaders on their programmes for workers and pensioners. Mr Ayuba Wabba, NLC President, said this at the 18th Harmattan School in Ilorin, Kwara State. The theme of the 18th Harmattan School is “Expanding Nigeria’s Democratic… Read More



Cyberthreat remains growing concern for businesses – Report

Businesses in Nigeria have raised an alarm about the growing threat of cyberattacks on their businesses. According to Equinix, cyberattacks, security breaches, and data leaks are the most feared. This was revealed in Equinix 2022 Global Tech Trends Survey. It said, “There remain significant concerns around cybersecurity in Nigeria… Read More