Daily Business Headlines – DECEMBER 19, 2023


Customs Street Rebounds By 0.02% Amid Weak Investor Sentiment

The Nigerian Exchange (NGX) Limited returned to winning ways on Monday, reversing the losses posted in the last trading session as it appreciated by 0.02 per cent at the close of transactions. The gains recorded by Customs Street yesterday was influenced by buying interest in banking and industrial goods equities, with traders cherry-picking… Read More


Tinubu Charges NNPCL Board, Firm Projects 2mbpd Oil Production

President Bola Tinubu, on Monday, asked the Board of the Nigerian National Petroleum Company Limited to immediately get to work, warning that non-performance would not be tolerated. Tinubu also warned that conducts suggesting a sense of entitlement would not be tolerated, and that the Board could be dissolved without prior notice to… Read More

Naira Scarcity Lingers, Traders Ration Cash

Some grassroots farmers and petty traders have expressed frustration over the lingering cash crunch in the country, saying the unfortunate incident has been taking a toll on their businesses. Some farmers and traders who spoke to The PUNCH said they stopped keeping their cash in the banks to avoid the funds getting trapped. Small and… Read More


President Pledges Ease Of Doing Newspaper Business

Newspaper owners got a commitment yesterday from President Bola Ahmed Tinubu for ease of doing their business. The President promised to review all policies militating against the media industry. Also, to be review are existing regulations hindering local access to newsprint — the major raw material in newspaper production. He gave the… Read More



Nigeria Needs More Tax Revenues To Aid Economic Growth –Chaudhuri, W’Bank Country Director

The current low level of government’s tax revenue which stands at 8-9 per cent of GDP is seen largely by analysts as insufficient to meet basic public service needs of the country. According to Shubham Chaudhuri, the World Bank Country Director for Nigeria, it has become imperative for the Tinubu administration to raise more tax revenues… Read More


Nigeria Records N7.5tn Trade Deficit With China – NBS

The trade balance between Nigeria and China increased to N7.54tn in the first nine months of 2023, findings by The PUNCH have shown. According an analysis of data from the National Bureau of Statistics, the bilateral trade deficit in favour of China is widening, with a steady increase in Nigeria’s imports from the Asian country in the past one… Read More

Total Energies To Inject $6bn In Gas Production, Others

President Bola Tinubu, on Monday, promised the international investment community that his administration would preserve Nigeria as a top-level destination for offshore and onshore investments. “We are committed to removing all cobwebs and anti-investment impediments in the oil and gas industry. We have a clear path that we are committed to… Read More



Fubara, Wike Strike Deal

Peace may return to Rivers State following the decision of the two warring camps led by Governor Siminalayi Fubara and Chief Nyesom Wike to embrace the peace deal brokered by President Bola Tinubu. The eight-point agreement titled: ‘Directives for the resolution of the political impasse in Rivers State’ was signed yesterday by the governor… Read More


INEC Considers February Next Year For Re-Run, Bye-Elections

The Independent National Electoral Commission (INEC) says it is considering the first week of February for the conduct of re-run and by-elections arising from the 2023 general elections. Prof. Mahmoud Yakubu, INEC chairman, at an extraordinary consultative meeting with political parties in Abuja, yesterday, said the commission intended to hold… 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