Daily Business Headlines – February 13, 2023



Expect Repositioning, Profit Taking In Stocks – Analysts

Mixed sentiments characterised the equities market last week as it closed marginally higher despite profit booking ahead of next week’s macroeconomic data from the National Bureau of Statistics, NBS, and corporate earnings reports hitting the market. This is coming in the midst of volatility and increasing electioneering activities as Nigerian voter’s countdown to February 25 for presidential and national assembly election… Read More  


$4.8bn Earned From Non-Oil Export In 2022 – NEPC

The Nigerian Export Promotion Council has expressed its commitment to ensure that in 2023, Nigeria makes more than $4.82bn it generated from non-oil export business in 2022. Ekiti State Coordinator, NEPC, Mrs Iyabode Abe, said that the Council under the leadership of the Chief Executive Officer, Yakussak Ezra, “Will continue to promote the development… Read More


African Countries Should Embrace Renewable Energy – Experts

Experts have advocated that African countries should embrace the abundant renewable energy resources which are described among the best in the world. They noted that generating renewable energy creates far lower emissions than burning fossil fuels, as such there is urgent need to accelerate transition from fossil fuels, which currently account… Read More

OPEC Retains Output Level Despite Russia’s Cutback Threat

The Organisation of the Petroleum Exporting Countries (OPEC) and partners have signaled they won’t boost oil production to fill in for cutbacks announced by Russia. The OPEC+ group, led by Saudi Arabia, will maintain output despite plans by the Moscow to cut 500,000 barrels a day in retaliation for international sanctions, according to delegates who… Read More



Stakeholders Plan Talks On Tourism Growth

Stakeholders in the tourism industry will be converging on South Africa for this year’s Meetings Africa, to discuss how to improve the continent’s hospitality sector. Meetings Africa, one of the continent’s largest business exhibitions, which will be held between February 28 and March 1, 2023, is with expanded participating countries of 21… Read More

Federal Government Projects 82% Of Revenue For Debt Servicing – Report

The International Monetary Fund says the Federal Government has projected to spend 82 per cent of its revenue on interest payments in 2023. According to the IMF, external debt (including that of the private sector) will rise to $121.6bn, with external reserves climbing to $37.5bn. It disclosed this in a table of projections in its ‘IMF Executive Board… Read More


‘Cash Crisis Threatening SMES, Economy’

The scarcity of the Naira currently affecting Small medium  enterprises (SMEs)negatively, is making it difficult for  most operators to access cash needed to do business thus threatening the Nigerian economy. Founder of Spark Varieties, a small fast food chain at the University of Lagos, Mr George Ejelonu, who made the remark, yesterday, lamented that… Read More



2023 Polls: Be Impartial, Can, Catholic Bishops Tell Inec

Catholic Bishops under the auspices of the Catholic Bishops Conference of Nigeria (CBCN) have called on the Independent Electoral Commission (INEC) to live above board as an independent and impartial umpire and ensure that their conduct in the electoral process is beyond reproach in the 2023 election. The Catholic bishops’s call comes amidst calls… Read More


Traditional Leaders Tasks On Free Elections In Nigeria

Niger State governor, Abubakar Sanni Bello has tasked traditional leaders in Nigeria to a peaceful and violent free general election. The governor gave the charge at the weekend during the Coronation and Presentation of Staff of Office to the 7th Sarkin Sudan of Kontagora, HRH, Alh. Muhammad Barau Muazu II at the Federal College of Education… Read More



Nigeria’s E-Payment Transaction Surge 55% In January 2023

Data released by the Nigeria interbank settlement system (NIBSS) shows that the volume of transactions performed electronically by Nigerians surged 55 percent in January 2023. Analysis by BusinessDay indicates that the number of NIBSS instant payment (NIP) users increased to 541 million in January 2023 from 348 million in January 2022, highlighting… Read More