Daily Business Headlines – FEBRUARY 06, 2024


NGX: Bearish Kick-Off As Investors Lose N436bn

Equites trading on the floor of the Nigerian Exchange Limited (NGX) started the week bearish as the benchmark All-Share Index (ASI) lost 0.73 per cent slashing investors’ wealth by N436.9 billion at the close of the market on Monday. The ASI settled at 103,659.81 basis points from an opening value of 104,421.23 basis points dragging the Year… Read More

TCN Restores Grid Destroyed By Vandals

The Transmission Company of Nigeria (TCN) said that it has restored the affected part of the grid that was blown up by vandals. Earlier yesterday, criminals blew up TCN tower number 388 along the Jos-Bauchi, 132kV Single Circuit transmission line resulting in grid collapse and nationwide darkness. Prior to the incident, TCN said in… Read More


Governors Rally Federal Government To Avert Food Crisis In States

The Governors of Kwara, Abdulrahman Abdulrazaq; Taraba, Agbu Kefas; Ondo, Lucky Aiyedatiwa; and Kogi, Ahmed Ododo, on Monday, stormed the Abuja headquarters of the Federal Ministry of Agriculture and Food Security to push for increased crop production to ensure food security in Nigeria. The is aimed at tackling food inflation and… Read More

Farmers Cultivate 323,000 Hectares To Tackle Food Price Surge

Farmers and agro-dealers are optimistic that the cost of food items could drop in the coming months following the cultivation of about 323,000 hectares of farmlands across the country with the support of the Federal Government. A report on the National Agricultural Growth Scheme and Agro-Pocket Project, January 2024, by the Federal Ministry of… Read More



AFDB Set To Begin Disbursement Of $540m SAPZS Fund

All is set for the African Development Bank, AfDB, to commence the disbursement of $540 million to the first phase of states in Nigeria for the development of Special Agro-Industrial Processing Zones (SAPZs). This is just as Vice President Kashim Shettima called for immediate action, saying it is time for the government and its development… Read More


Foreign Investors Interested In Nigeria – Cardoso

The Governor of the Central Bank of Nigeria, Olayemi Cardoso, has said that Foreign Portfolio Investors want the country to carry out policy reforms to enable them to bring in their funds. Cardoso said this on Monday during an interview on Arise TV, where he addressed concerns about the recent volatility in the currency market… Read More

House To Meet Cardoso, Edun, Others Over Economy

The House of Representatives on Tuesday announced the commencement of the second edition of its sectoral debates/dialogue as part of its periodic policy brief series. This was contained in a statement issued on Monday night by House spokesman, Akin Rotimi. According to the statement, the programme has been “billed for the financial… Read More



Dutch Ministers Visit Nigeria In Effort To Strengthen Bilateral Ties

Two ministers from the Kingdom of the Netherlands landed in Nigeria yesterday in both countries’ bid to strengthen bilateral relations between them. A statement from the Dutch embassy in Nigeria said the visit was a testament to the enduring ties between the Kingdom of the Netherlands and the Federal Republic of Nigeria. It named the visitors… Read More


Attack On Rivers Assembly: Court Refuses Bail For Three Suspects

AFederal High Court sitting in Abuja has refused the request for bail made by three out of the five suspects arrested over link to the attack on the Rivers State House of Assembly complex. They were charged with terrorism and murder. The five, believed to supporters of Governor Siminalayi Fubara when the feud between the governor and the… Read More



Minister Urges MDAS To Deepen Digital Infrastructure

The Minister of Communications, Innovation and Digital Economy, Dr Bosun Tijani, has urged ministries, departments and agencies to deepen the concept of Digital Public Infrastructure as a catalyst for transforming the Nigerian Civil Service. According to a statement, the minister stated this during the inaugural event of Devs in … Read More