DAILY BUSINESS HEADLINES
PUNCH
Stock Market Rebounds As Investors Gain N154bn
Market activities on the floor of the Nigeria Exchange Limited recorded gain on Wednesday after Tuesday’s loss. This bullish rebound saw the stock market investors recording N154bn at the close of the market on Wednesday. The All Share Index also grew by 283.27 points, representing an increase of 0.55 per cent to close at 51,729.87 points… Read More
Securities Bill Will Boost Investor Confidence – Reps
The Chairman of the House Committee on Capital Market and Institutions, Hon. Babangida Ibrahim, said the Investments and Securities Bill is capable of transforming the capital market and boosting investors’ confidence. He said this while commenting on the recent passage of the bill by the House of Representatives in a statement… Read More
BUSINESS DAY
Electricity Tariff Doesn’t Reflect Production Cost, Say DisCos
Electricity distribution companies (DisCos) in Nigeria have said the tariffs being paid by consumers do not reflect the cost of production. The Association of Nigerian Electricity Distributors (ANED), the umbrella body for the DisCos, attributed the recent hike in tariffs to inflation, foreign exchange and underinvestment. Sunday Oduntan… Read More
THE SUN
Customs Debunks 10% Tariff Hike On Imported Used Vehicle
Speaking on a national television programme yesterday, NCS, National Public Relations Officer, Deputy Comptroller, Timi Bomodi, said that the service does not have the powers to impose or arbitrarily increase duty payable on any item imported into the country, saying that there was no element of truth in the claims by the auto dealers. He added… Read More
ECONOMY HEADLINES
BUSINESS DAY
Five Immediate Risks Facing Nigeria’s Economy – WEF
The World Economic Forum (WEF) has released a new report that puts on stark display the tough job ahead for Nigeria’s next president. Based on responses from 1,200 private-sector risk managers, public policy-makers, academics and industry leaders across the world, the WEF’s 2023 report highlights terrorist attacks, debt crises, cost of living… Read More
THE SUN
Nigeria Spent $12bn Importing Petroleum Products In 10 Months –CBN
The CBN also stated that the country’s gross federation receipts which stood at N1,178.64 billion at the period under review exceeded the level in September 2022 by 7.0 per cent, but below the target of N1,580.34 billion by 25.4 per cent. The is contained in the apex bank’s October 2022 Economic Report posted on its website on Wednesday… Read More
PUNCH
Ukraine To Establish Grain Hubs In Nigeria
Despite the ongoing war with Russia, the Ukrainian government on Wednesday expressed its readiness to establish grain hubs in Nigeria and other African countries to boost bilateral ties. This was made known when Ukrainian Minister of Agrarian Policy and Food, Mykola Solskyi, led a delegation to the Nigeria Minister of Foreign Affairs… Read More
POLITICAL HEADLIINES
PUNCH
Security Threat To 2023 Elections Real —NNPP Chair
The National Chairman of the New Nigerian Peoples Party, Ahmed Alkali, has said the security threat to the forthcoming 2023 elections is real. Alkali made the revelation on Wednesday while speaking to journalists at his party’s national secretariat in Abuja. However, he noted that the NNPP was convinced that the… Read More
INEC Final List: North-West, S’West Top 93 Million Voter Register
The Independent National Electoral Commission on Wednesday released the final list of voters that will cast their ballots in the elections, with the North-West and South-West having the lion’s share of the 93.4 million eligible voters. Presenting the voter register at a meeting with leaders of political parties at the INEC headquarters, Abuja, the… Read More
TECHNOLOGY HEADLINES
BIUSINESS DAY
New Naira Scarcity Forces Businesses To Opt For E-Payment
Businesses in Nigeria are facing a double whammy as new naira notes remain scarce, even as the deadline for the expiration of the old ones draws nearer. The situation has forced many businesses to opt for electronic channels to carry out transactions in a bid to reduce the volume of old notes coming from their customers. Following the redesign… Read More