Daily Business Headlines – December 28, 2022



Stocks Gain N212bn In Week Ended December 23

In the trading week ended Friday, December 23, investors in Nigeria’s stock market recorded about N212billion gain as they continued to cherry-pick counters across board. Though all NGX sectorial indices closed the week in the positive region, banking, consumer goods and oil & gas stocks were more on investors buy list… Read More

How Transport, Food Prices Swelled Nigerians’ Cost Of Living In November

The cost of living crisis in Nigeria is showing no signs of abating as the prices of basic needs continue to surge significantly amid rising multidimensional poverty, accelerated inflation and other macroeconomic fundamentals. According to the National Bureau of Statistics (NBS) in its November transport fare watch, air fares for a single route journey… Read More


Dangote, Other African Refineries Require 1.7m Bpd Of Crude Oil

As the push from fossil fuels continues in the developed countries with reduced buyers for Nigeria and other African crude, there are indications that Dangote Refinery and about ten others across Africa may, from next year, will provide an immediate market for African crude oil. About 11 refineries coming on stream from next year will reportedly… Read More


Banks’ Assets Total Up 21.58% to N69.67trn in Q3 2022

The Central Bank of Nigeria (CBN) has revealed that banks’ total assets in the third quarter of 2022 rose by 21.58 per cent to N69.67 trillion as against N57.30 trillion recorded in October 2021. Deputy Governor, Financial System Stability, CBN, Aisha Ahmad, and the Deputy Governor, Economic Policy Directorate, Dr. Kingsley Obiora… Read More



MPC Members Call For FX, Domiciliary Account Reforms

Members of the Monetary Policy Committee (MPC) have called on the Central Bank of Nigeria (CBN) to carry out a bold reform of the foreign exchange market, particularly, the operation of Foreign Currency Domiciliary Accounts (FCDA) by Individuals. Obadan Mike Idiahi, member of the MPC made this call in his personal statement… Read More


Immigration Rakes In N438bn From Passport Issuance, Others

The Nigeria Immigration Service has generated N438.78bn as revenue from 2017 to date, findings by The PUNCH have shown. This came as the total sum of Internally Generated Revenue by the agency almost doubled from N38.53bn in 2017 to N74.69 (budgeted IGR) in 2022. In 2017, 2018 and 2019, the NIS raked in N38.5bn, N39bn and N61bn… Read More

Agric Ministry Builds 1.21MW Power Projects, Others

The Federal Ministry of Agriculture and Rural Development says it has installed 20,124 units of solar electrification facilities with a combined capacity of 1.21 megawatts and constructed 105 classrooms, as well as 15 public toilets.     FMARD, which is the arm of the Federal Government responsible for the development of agriculture in Nigeria… Read More



2023 Poll‘ll Mark Watershed In History Of Nigeria — CERON

The Campaign for Equal Rights and Opportunities for all Nigerians, CERON, has urged Nigerians to fully participate in the coming 2023 general election saying the poll will mark a watershed in the history of the country. The group appealed to Nigerians to turn out to collect their Permanent Voter Cards, PVCs, in order to have their say on who… Read More

2023: Time For Candidates To Get Serious

THEY say if you want to hide something from an average Black man, put it in a book because we never care to read. And if we do not read, how do we find solutions to our problems? As the elections draw near, let us hope that the minders of candidates for the various elections are reading and passing our messages to their principals… Read More



Fintech Association Elects New Governing Council Members

FinTech Association of Nigeria has elected new members of its governing council from different sectors to spearhead the affairs of the association for the next two years.  In a statement, it disclosed that the elections were overseen by the Board of Trustees Election Committee made up of reputable professionals such as former… Read More