Daily Business Headlines – FEBRUARY 13, 2024


Tech Stocks Lead As NGX Opens This Week’s Account In The Bullish Zone

The NGX commenced this week on a bullish note, with the All-Share Index experiencing an appreciation of 0.18%, closing at 102,042.32 points. This marked a gain of 183.95 points from the previous Friday’s closing of 101,858.37 points. Furthermore, there was a 0.18% increase in market capitalization, with equities gaining N101 billion, resulting… Read More


High Airfare: NCAA Promises Swift Intervention, Sets Up Committee

Following sky-high prices of flight tickets for domestic and international travels, the Nigerian Civil Aviation Authority (NCAA) has promised to intervene in the matter, with a view to bringing relief to airlines and passengers alike. In a statement posted on the NCAA’s  official X handle, the acting Director General of the regulatory agency, Capt. Chris… Read More


Minimum Wage: Private Sector, States Fault Labour’s Push For N1m

The organised private sector, Ekiti, Sokoto, and other states have faulted the demand by the Nigeria Labour Congress for N1m minimum wage, stating that it is not realistic. The NLC President, Joe Ajaero, in an interview on Arise television on Monday, said the organised Labour might ask for N1m during the minimum wage negotiations with the… Read More

Estimated Billing: FCCPC Tells Customers To Report Erring DisCos

The Federal Competition and Consumer Protection Commission has encouraged electricity consumers to report distribution companies that failed to comply with the capping of estimated bills for unmetered customers. FCCPC stated this in a statement on Monday while commending the Nigerian Electricity Regulatory Commission for sanctioning… Read More



Amid Economic Woes, IMF Asks Federal Government To Phase Out Electricity Subsidy

Without consideration to the hydra-headed economic woes plaguing the country, the International Monetary Fund (IMF) has advised the incumbent administration to completely phase out electricity subsidy in the country. According to its published ‘Post Financing Assessment (PFA)’ report, the IMF added that the federal government had… Read More


Marketers Await Fuel From Port-Harcourt Refinery As Shell Supplies Crude

The Shell Petroleum Development Company of Nigeria Limited says it has completed the supply of 475,000 barrels of crude oil to the Port Harcourt Refining Company Limited. The supply of crude to the facility came a few weeks after the Nigerian National Petroleum Company Limited launched a search for private operators to run the… Read More


Nigeria’s Very Poor Country, Our Wealth Is Overestimated – Presidency

The Presidency has described Nigeria as a “very poor” country, saying the wealth of the country is overestimated. Special Adviser on Information and Strategy to the President, Bayo Onanuga, stated this in an interview on Arise Television on Monday. According to Onanuga, Nigeria is still a very poor country considering its low per capita income… Read More



Electricity Act: Partner Government On Renewable Energy, Akpabio Tasks Investors

The President of the Senate, Godswill Akpabio has urged stakeholders in the renewable energy sector to take advantage of the Electricity Act 2023 which had been signed into law by President Bola Tinubu by partnering with the government on its implementation. The Act grants autonomy to  state Houses of Assembly to legislate on the issue of… Read More


Aiyedatiwa Orders Tight Security As Funeral For Akeredolu Begins

Ondo State Governor Lucky Aiyedatiwa has ordered security agencies to beef up security, as the funeral of former Governor Oluwarotimi Akeredolu begins this week. He ordered security agencies to fish out kidnappers and criminals in the state as well as prevent security breaches in any part of state. Aiyedatiwa’s directive is coming on the heels… Read More



NIMC Worried As Only 35% Of Jigawa Residents Have NIN

The National Identity Management Commission (NIMC) has expressed concern over the low figure of enrollment for the National Identification Number (NIN) in Jigawa State as only 35% of the residents are currently enrolled. NIMC’s Coordinator for the State, Aminu Jakada, lamented the poor turnout of state residents in an interview with the News… Read More