Daily Business Headlines – DECEMBER 14, 2023


NGX Share Index Crosses Historic 72,000 Points, Investors Gain N215bn

The benchmark index of the Nigerian Exchange Limited, All-Share Index rose by 0.55 per cent on Wednesday at 72,299.79 points, thus crossing the 72,000 basis points for the first time in history. This was as trading activities on the NGX entered the fourth day of positive trading, which resulted in an N415bn gain for equity market investors… Read More

Kyari Defends NNPCL Fuel Import Monopoly

The Group Chief Executive Officer of the Nigerian National Petroleum Company Limited, Mele Kyari, has defended the company’s current monopoly in fuel import, arguing that oil marketers withdrew from fuel importation due to price volatility. Addressing the Senate Committee on Finance on Wednesday at the National Assembly complex… Read More


MAN, LCCI Commend CBN’s Suspension Of Processing Fees On Large Cash Deposits

The Manufacturers Association of Nigeria (MAN) and the Lagos Chamber of Commerce and Industry (LCCI) have commended the decision by the Central Bank of Nigeria (CBN) to suspend processing fees on cash deposits above specified thresholds, saying the policy has positive implications for the business community and the economy… Read More


IPMAN Urges Quick Revamp Of Port Harcourt Refinery

Independent Petroleum Marketers Association of Nigeria, IPMAN, has urged the Federal Government to quickly complete the ongoing revamping of the Port Harcourt Refinery. The body spoke at the Port Harcourt Depot Unit‘s 2023 Annual General Meeting/Election, AGM, in Port Harcourt, Rivers State, yesterday, where Tekena ThankGod Ikpaki… Read More



Currency In Circulation Rises To N3.4trn –CBN

As naira scarcity continues to rock parts of the country, forcing commercial banks to ration cash in their stock,  the Central Bank of Nigeria (CBN) has, for the umpteenth time, assured of adequate stock currency to meet the needs of public. It added that currency in circulation which as of February 2023, was N1 trillion, has risen to over N3.4 trillion as… Read More

NNPCL Generates N4.5trn Revenue For Government In 10 Months –Kyari

The Nigerian National Petroleum Company Limited ( NNPCL), on Wednesday, said that it remitted N4.5 trillion generated  revenue as of October this year  into Federation Account. The national oil company also declared that prosperity beckons for the country as indices and parameters in that direction are already showing and being strategically… Read More


Economic Reforms: Nigerians Under Poverty Line Rise To 104m — World Bank

Nigeria’s poverty level has taken a notch higher, at the backdrop of the recent economic and fiscal reforms, World Bank report reveals. A World Bank report has indicated that Nigeria’s poverty level has taken a notch higher, at the backdrop of the recent economic and fiscal reforms. The key reforms include the removal of petrol subsidy and the foreign… Read More



Fubara Bares Fangs, Demolishes Assembly Complex, Presents 2024 Budget To Four Lawmakers

The intrigues trailing the political crisis in Rivers State heightened yesterday, amid tension between the Rivers State governor, Siminalayi Fubara and the Minister of the Federal Capital Territory (FCT), Nyesom Wike. The drama began very early at the Rivers State House of Assembly, when the state government moved bulldozers to… Read More


Federal Government Exempts Tertiary Institutions From IPPIS

The Federal Executive Council, FEC, yesterday, approved the removal of universities and other tertiary institutions in the country from the Integrated Personnel and Payroll  Information Systems, IPPIS, allowing the schools to deal with the salary issues of their staff internally. Minister of Education, Prof. Mamman Tahir, disclosed this while… Read More



Federal Government Projects N125bn Revenue From Data Protection Roadmap

The Federal Government is targeting N125bn in revenues and the creation of 500,000 jobs expected to be created through the Nigeria Data Protection Strategic Roadmap and Action Plan. This was disclosed during the launch of the Nigeria Data Protection Strategic Roadmap and Action Plan by Nigeria Data Protection Commission in Abuja… Read More