Daily Business Headlines – JANUARY 10, 2024


Stock Market: Investors Gain N1.93trn In 2 Days

The Nigerian stock market, yesterday, continued to surge in an impressive momentum, with investors gaining over N1.57 trillion from their investment. This makes a total capital appreciation of over N1.93 trillion in two trading days of the week following the N364 billion that investors gained on Monday. Accordingly, the Nigerian Exchange Limited… Read More


NAICOM Targets N1trn GPI Benchmark In Q1

To grow the insurance sector, the National Insurance Commission (NAICOM) may consider the first quarter of this year to meet the N1 trillion Gross Premium Income (GPI) benchmark in the industry. The commission, in collaboration with industry stakeholders, had planned to accomplish the benchmark before the end of 2023, from N729.1 billion but… Read More


NNPCL posts over N2tn profit

The Nigerian National Petroleum Company Limited, on Tuesday, said it made a profit of N2.548tn in 2022, describing it as the “highest profit since the inception” of the national oil firm. NNPCL is a state-owned oil corporation established in 1977 and the largest asset holder within the Nigerian oil and gas industry. It is currently commercially… Read More

Aviation Unions Urge Tinubu To Scrap 40% IGR Deduction

Aviation unions, including the National Union of Air Transport Employees and the Air Transport Services Senior Staff Association of Nigeria have appealed to President Bola Tinubu to rethink the 40 per cent Internal Generated Revenue remittance imposed on aviation agencies. In a joint statement, the unions expressed deep concern… Read More



Nigeria’s Natural Gas Production Capacity Grows By 100mmScf/Day

Efforts to deepen the Federal Government’s decade of gas initiative is beginning to gain traction as the 100 million standard cubic feet of gas per day Lekki Free Zone(LFZ) gas natural gas distribution project is set to crash the zones rising energy cost while attracting fresh investments. Managing Director of  Optimera Energy, the lead… Read More


World Bank Predicts Higher Per Capita Income For Nigeria

The World Bank has projected that Nigeria’s per capita income will return to its pre-pandemic level by 2025. Per capita income or total income measures the average income earned per person in a given area in a specified year. It is calculated by dividing the area’s total income by its total population. The bank in its Global Economic… Read More


48 Agencies, Government-Owned Enterprises Target N2.9trn IGR In 2024

A total of 48 government-owned enterprises (GOEs) have projected to rake in the sum of N2.9 trillion (collectively) as internally generated revenue in the 2024 fiscal year. The GOEs are entities set up and controlled by the government to partake in commercial practices. In Nigeria, they are also called “Super Agencies” because of the enormous… Read More



Nigerians Hail Tinubu As President Trims Foreign Trips Entourage

Nigerians on Tuesday hailed President Bola Tinubu for slashing his entourage size for domestic and international travels by 60 per cent, in a decisive step to cut excessive travel spending. The austerity measures apply to all federal ministries, departments and agencies, the Office of the President, Office of the Vice President and the wives of the… Read More


N37b, N585m Probe: Sadiya, Edu Barred From Travelling

The Economic and Financial Crimes Commission (EFCC) yesterday seized the travel documents of suspended Minister of Humanitarian Affairs and Poverty Alleviation Dr. Betta Edu and her predecessor Hajiya Sadiya Umar-Farouq. The anti-graft agency also impounded the international passport of the suspended National Coordinator… Read More



Operators Appeal To Government On Row Charges As Infrastructure Nears End Of Life

Telecommunications operators have appealed to governments at all levels to consider their stance on right of way (RoW) charges, especially in 2024. This appeal is coming on the need for major infrastructure upgrade for telecoms infrastructure in the country, especially fibre optics cables that are said to have reached their end of life. In an interview… Read More