Daily Business Headlines – DECEMBER 18, 2023


Positive Trading Lifts Equity Market By N464bn

After recording four bullish trade sessions last week, investors in the Nigerian Exchange gained N464 billion. The market opened on a positive note and sustained the sentiment till Thursday, with investors earning N501 billion in the process However, the market suffered a decline on Friday on the back of sell-offs in some banking stocks. The NGX… Read More

MAN, Airlines, Dangote In Talks Over Diesel, Jet A1

Local airlines under the aegis of the Airlines Operators of Nigeria and local producers on the platform of the Manufacturers Association of Nigeria have begun plans aimed at getting Dangote Petrochemical Refinery to priotise diesel and JetA1 supplies to local carriers and manufacturers. The move came about one week after indication emerged that… Read More


Amid N3.4trn In Circulation, Cash Crunch Persists In Banks

As current naira scarcity enters its third week, economic experts including Dr Muda Yusuf, CEO of the Centre for Promotion of Private Enterprise (CPPE) has asked the Central Bank of Nigeria (CBN) to find a lasting solution to the nightmare, instead of regaling Nigerians with soothing tales of sufficient cash in vaults when the citizens  cannot easily… Read More

N17.35trn Pension Assets To Grow As Operators Eye Offshore Investments

Pension assets in Nigeria currently at N17.35 trillion as at the third quarter (Q3) of 2023 is set to grow further with pension operators gearing up for overseas investments. Data from the National Pension Commission (PenCom) has revealed that pension assets grew to N17.35 trillion from N815.18 billion in 2007 as more contributors joined the… Read More



Nigeria Can Earn N10tr Yearly From Public Assets, Says Oyedele

The Chairman, Presidential Fiscal Policy and Tax Reforms Committee, Taiwo Oyedele, lamented the general laxity towards federal government’s assets across the country estimated at N100 trillion. With proper management, he said, the government can earn N10 trillion from the assets yearly to fund developmental programmes. Oyedele… Read More


Federal Government Will Position Nigeria As Preferred Destination For Import, Export Operations –Tinubu

President Bola Ahmed Tinubu has assured that the Federal Government under his watch will position Nigeria as preferred destination for import and export activities. This is even as the President prioritised investing in the training and capacity building of  Customs Officers to stand shoulder to shoulder, terabyte by terabyte, to build the infrastructure… Read More


CITN Backs Federal Government’s 18% Tax-To-GDP Drive

The Chartered Institute of Taxation of Nigeria (CITN), has said the government’s drive to increase tax to GDP ratio from 10.86 to 18 per cent is a step in the right direction. President of CITN, Barr. Samuel Olushola Agbeluyi who made this known, however, said the federal government must engender voluntary compliance by toning down wasteful… Read More



SERAP Sues INEC Over Failure To Prosecute Electoral Offenders In Bayelsa, Kogi, Imo

Socio-Economic Rights and Accountability Project (SERAP) has filed a lawsuit against the Independent National Electoral Commission (INEC) over the failure to arrest and prosecute suspected perpetrators of grave electoral offences in the recently concluded off-cycle governorship elections in Kogi, Imo and Bayelsa states. In the suit number… Read More


Rivers Crisis: RVSG, PDP, G27 Lawmakers Disagree Over Vacancy Of Seats

The G27 faction of the Rivers State House of Assembly, led by Mr. Martins Amaewhule, the Peoples Democratic Party, PDP and the state government, yesterday, disagreed over the vacancy of  seats in the House. While Amaewhule said their seats are not vacant, because their defection from the PDP, to the All Progressives Congress, APC, was… Read More



Climate Commitment Enhanced With Green Digital Action At COP28

Members of the global tech sector have committed to increasing action to help solve the climate crisis through Green Digital Action at COP28 in Dubai, the United Arab Emirates. The commitment from tech companies and governments – including mitigation and adaptation efforts – came at the first Green Digital Action series and signaled… Read More