Daily Business Headlines – DECEMBER 22, 2023


Index Crosses 74,000 Mark As Stock Market Rally Continues

Nigeria’s equities market rose further by 1.21 percent on Thursday, pushing the market’s benchmark performance indicator – All Share Index (ASI) – above 74,000 mark. Equities value rose further by N488billion. Thanks to Okomu Oil Palm, IMG, Transcorp, Multiverse and other top advancers on the Nigerian Exchange Limited (NGX) that… Read More


BREAKING: Banks Colluding With Pos Operators To Disrupt Naira Circulation, Says CBN

The Central Bank of Nigeria has cautioned PoS operators over cash availability. This was made known in a statement signed by the Acting Director of Communication and Public Relations, Sidi Ali, on Thursday. The CBN noted that there is a collusion between some Deposit Money Banks and Point-Of-Sale operators affecting the availability of… Read More


Federal Government Should Provide Fuel For Duration Of 100% Fare Slash On Commuter Rail Services – NRC MD

The Managing Director of the Nigerian Railway Corporation (NRC), Fidet Okhiria, has asked that the Federal Government provide diesel to power the trains during the 15-day duration so that rail transport would be free for commuters nationwide. The NRC Managing Director said this on Thursday’s edition of Channels Television’s Sunrise Daily while… Read More


Christmas: Federal Government Reveals Transport Companies Offering 50% Slash Fare To Southeast, Others + Routes *Full List

The Presidency has revealed the companies that will be participating in the 50 per cent slash of inter-state transport fares approved by President Bola Tinubu. Tinubu, on Wednesday, approved the reduction as well as free train rides for Nigerians starting Thursday, December 21, 2023, to January 4, 2024. The Minister of Solid Minerals Development… Read More



Nigeria’s Unemployment Rises For First Time Since New Methodology

Nigeria’s unemployment rate rose for the first time in the second quarter of this year since the National Bureau of Statistics (NBS) adopted a new methodology for the country’s labour force. The latest Nigeria Labour Force Survey shows that the unemployment rate rose to 4.2 percent from 4.1 percent in Q1. It stood at 5.3 percent in the Q4 of last year… Read More


LPG Marketers Demand Waiver Implementation

The National President of Nigeria Association of LPG Marketers, Oladapo Olatunbosun has berated Nigeria Customs Service for its alleged reluctance to implement the presidential directive on zero import duties on gas items as well as imported Liquefied Petroleum Gas, among others. Olatunbosun who hailed President Bola Ahmed Tinubu for… Read More


Angola Quits OPEC

Angola, a leading African oil producer said it would leave the Organisation of Petroleum Exporting Countries (OPEC). Angola’s resolve to quit the oil cartel membership which regulates production quotas for member countries, is not unconnected with Saudi Arabia’s push, the leading OPEC oil producer, that the oil producers group should… Read More



Senate Fails To Meet Saturday Deadline For Budget Passage

The Senate has shifted the passage of the 2024 President Bola Tinubu’s ‘Renewed Hope’ budget. The Appropriation Committee had initially planned to present the 2023 budget to the Senate on Thursday while the passage was billed for Saturday, December 23, 2023. However, many of the committees were unable to meet the Wednesday… Read More


House Of Representatives Consider Semester-Based Fees For Tertiary Institutions

House of Representatives is considering the introduction of semester-based school fees in tertiary institutions in the country. This followed the adoption of a motion sponsored by Mr Sa’ad Taura at the plenary presided by the Deputy Speaker, Mr Benjamin Kalu. Taura, representing Taura/Ringim Federal Constituency of Jigawa State, justified the… Read More



Deployment Of Gas Leak Detection Technology Will Accelerate Nigeria’s Energy Transition – Federal Government

The Nigerian government said deploying the flagship Amal gas leak protection device will accelerate the country’s adoption of compressed natural gas, a preferred energy source for homes, transportation, and industry. The Minister of State for Petroleum (Oil), Senator Heineken Lokpobiri, disclosed this in his speech at the Commissioning of… Read More