Daily Business Headlines – FEBRUARY 09, 2024


Equities Sustain Sliding Profile, Index Dips By 0.9%

Following price depreciation in many blue chip stocks, the Nigerian equities market sustained sliding profile yesterday as the all share index (ASI) to slide further by 0.9 per cent. At the close of transactions yesterday, the index declined by 878.64 points, representing a loss of 0.86 per cent, to close at 101,227.67. Similarly, the… Read More


Tinubu Approves N126bn For Housing Projects Nationwide

Minister of Housing and Urban Development, Ahmed Dangiwa, yesterday, disclosed that President Bola Ahmed Tinubu has approved N126.5 billion to deliver 100,000 houses nationwide in 18 months. Speaking at the launch of Renewed Hope Cities and Estates and groundbreaking for 3,112 housing units in Karsana, in the Federal Capital… Read More


14-Day Strike Notice: Federal Government, Labour Differ On Aborted Peace Deal

The Federal Government on Thursday disagreed with the organised Labour on its threat to declare a nationwide strike in the next 14 days over the alleged failure of the government to implement the memorandum of understanding reached with the Nigeria Labour Congress and the Trade Union Congress in October 2023. The Minister of Information… Read More

Foreign Airlines Fear $200m Loss Over Naira Depreciation

The International Air Transport Association, the Geneva-based trade association representing world airlines, has expressed fears that foreign airlines operating in Nigeria, may lose about $200m to exchange rate depreciation. IATA Regional Vice-President for Africa and the Middle East, Kamil Al Awadhi, said the issue of trapped funds… Read More



World Bank Pledges To Step Up Financial Support To Nigeria

THE World Bank has pledged to step up financial support for Nigeria in priority needs of the economy. The World Bank Managing Director of Operations, Anna Bjerde, disclosed this to journalists on Thursday after a courtesy visit on President Bola Tinubu at the Presidential Villa, Abuja. Bjerde, said the Bank would continue to support the reforms… Read More


NNPCL Board Approves Dollar Revenue Transfer To CBN

The Central Bank of Nigeria has created a department to deal with crude oil sales transactions by the Nigerian National Petroleum Company Limited, the Group Chief Executive Officer, NNPCL, Mele Kyari, announced on Thursday. Kyari also revealed that the Board of Directors of NNPCL had approved the decision to move significant… Read More


West, Central African Governments Brainstorm On Economic Opportunities

An economic transformation of the African continent is achievable through the creation of the right conditions to turn opportunities into transformational projects in key development areas, the Minister of Finance and Coordinating Minister for the Economy, Wale Edun, said. Speaking at the Abuja roundtable for economic transformation in West and… Read More



Tinubu Directs Immediate Release Of 102 Metric Tons Of Food Items

President Bola Tinubu has directed the immediate release of over 100 metric tons of assorted food items from both the strategic reserve and the Rice Millers Association of Nigeria as a short term response to rising food shortage in the country. Minister of Information and National Orientation, Mohammed Idris, made this disclosure… Read More


2.7m Nigerians Displaced By Flood, Others – Commission

National Commission for Refugees, Migrants and Internally Displaced Persons (NCFRMI) has said that 2.7 million Nigerians are displaced due to flooding and other climate-related factors, reiterating its commitment towards tackling the impact of climate change. In a statement made available to LEADERSHIP Friday yesterday in Abuja, the… Read More



Glo, MTN Resolve Debt Dispute

The Nigerian Communications Commission (NCC) has announced that the interconnect debt dispute between MTN Nigeria Communications Plc. (MTN) and Globacom Limited (Globacom) has been amicably resolved. In a statement sent to Daily Sun, the NCC said that in accordance with this resolution, the disconnection approval granted… Read More