Daily Business Headlines – February 14, 2023



Financial Stocks Lead Activities At NGX, Contribute N6.4b To Turnover

The financial services industry dominated in volume terms at the end of last week’s transactions on the floor of the Nigerian Exchange Limited (NGX). It led the activity chart with 634 million shares valued at N6.4 billion traded in 8,540 deals. Thus, it contributed 67 per cent to the total equity turnover and value. The consumer goods industry… Read More


Petrol Ex-Depot Price Jumps 110% In Four Months – Report

Ex-depot price of Premium Motor Spirit otherwise known as petrol has risen by 110 per cent in four months, according to findings by The PUNCH. The data showed that the ex-depot price rose from N148 per litre last October to an average of N312 per litre on February 3 this year. As the sole importer of petroleum products, the Nigerian National Petroleum… Read More

Telecoms major driver of digital economy – NCC

The Nigerian Communications Commission has said telecommunications sector is a strategic driver of the digital economy agenda of the Federal Government. It said the sector had continued to provide digital stamina to support the economy, especially the activities of Small and Medium Enterprises in the country. The Executive Vice Chairman, NCC… Read More  


Nigeria To Launch Carbon Tax System To Reduce Emissions And Raise Revenue

The Nigerian Government announced the launch of a Carbon Tax policy, to reduce overall carbon or greenhouse gas emissions and raise revenue generation in the country. This was disclosed by the Director-General of the National Council on Climate Change (NCCC), Salisu Dahiru, on Monday when he briefed State House correspondents in Abuja… Read More



DMO Raises N724.9bn In February Bond Auction

The Debt Management Office has announced that it raised N724.9 billion in February 2023 Federal Government bond auction. DBO said it was a 100% increase compared to the previous year. The auction, which was held on February 13, 2023, saw a total of 577 bids worth N724.9 billion received for the total amount offered of N360 billion… Read More


Domestic, Foreign Transactions In Stocks Hit N2.3trn In 2022

The total value of domestic and foreign transactions on Nigerian Exchange (NGX) Limited amounted to N2.324 trillion in the year 2022. The Domestic and Foreign Portfolio Investment (FPI) in December 2022 report released by NGX Regulation Limited captured these transactions as well as trading figures from market operators. Also, the domestic… Read More


Economy: Households Ration Food, Opt For Mini Sachet Items

FOOD rationing is a practice usually done during war time. But households in Nigeria have decided to adopt such practice, even when the country is not at war. Every daily need from food to clothes are being rationed to save cost and enable families to save little. The typical average Nigerian family known for a high living standard, part of which is… Read More



INEC Releases List Of 240 Polling Units Where Voting Will Not Take Place

Mahmood Yakubu, the Chairman of the Independent National Electoral Commission, disclosed Monday at a meeting he had with political parties in Abuja that there were 240 polling units with no registered voters and where voting on the 25th of February and 11th of March will not take place. Yakubu added that there were now a total of 176,606 polling… Read More


Campaign Activities Forces Import To Drop By 30 Per Cent – STOAN

There are strong indications that the current electioneering campaign activities might be responsible for the drop in cargo throughput at the nation’s seaports. The Seaport Terminal Operators Association of Nigeria (STOAN) revealed that cargo throughput and seaport activities recorded an all-time low in the first six weeks of 2023… Read More



SEC, NAIC to Partner on Commodities Trading Ecosystem The Securities and Exchange Commission (SEC) has stated its readiness to partner with the Nigerian Agricultural Insurance Corporation (NAIC) in a bid to further deepen the commodities trading ecosystem. Director General of the SEC, Mr. Lamido Yuguda stated this during a meeting with the Management of NAIC in Abuja recently… Read More