DAILY BUSINESS HEADLINES

BUSINESS DAY

Stock Market Sustains Rally By 0.62%

The Nigerian equities market increased further on Thursday by 0.62percent or N174billion, thereby strengthening the positive return year-to-date (YtD) to 1.56percent. Week-to-Date (WtD), the nation’s stock market has increased by 1.61 percent. Investors on the Nigerian Exchange Limited (NGX) continued to cherry pick attractive counters ahead… Read More

Naira Falls Across FX Markets As Demand Rises

Naira on Wednesday depreciated against the US dollar at the official and unofficial foreign exchange (FX) markets, following an increase in demand for the greenback by the end users. “There is demand for dollars, especially coming importers who have some obligations to meet,” one trader told BusinessDay. At the Investors and Exporters (I&E)… Read More

BUSINESS DAY

CBN Intensifies Nationwide Awareness on Redesigned Naira

The Central Bank of Nigeria (CBN) yesterday continued its nationwide enlightenment campaign on the redesigned N1,000, N500, and N200 banknotes, urging Nigerians to accept and respect the currencies as national symbols. Addressing market men and women during sensitisation exercise on new naira notes in major cities across… Read More

PUNCH

NGX To Unveil 2023 Market Outlook

The Nigerian Exchange Limited has unveiled plans to host the 2022 market recap and 2023 outlook for the Nigerian capital market. The Exchange made this disclosure in a release signed by its Head, Marketing and Media Communication, Clifford Akpolo, made available to The PUNCH on Thursday. “Market recap and outlook is an annual event… Read More

ECONOMY HEADLINES

PUNCH

Budget Deficit Rises 370%, Hits N47tn Under Buhari

The total budget deficit under the President, Major General Muhammadu Buhari (retd.), is set to hit N47.43tn, according to an analysis of the Federal Government’s data from the Budget Office of the Federation. According to investopedia, a budget deficit happens when expenses exceed revenue. The budget data analysed by The PUNCH… Read More

THE SUN

Customs Rakes In N1.022trn Revenue, Intercepts 157 Containers Of Tramadol, Others

The command also said it arrested about 60 suspects in connection with various contraband during the year under review and facilitated about N28.2 billion of non-oil commodities with a total tonnage of 6.4 million metric tonnes exported through Apapa port. The Customs Area Controller of the Command, Malanta Ibrahim Yusuf, said that the revenue… Read More

THIS DAY

Challenges Confronting Ports Economic Regulation

As the ports economic regulator, the Nigerian Shippers Council (NSC) remains an umpire of the ports system. Its major task is ensuring fairness in charges as well as   efficiency in service provision. Observers believe that this is not an easy task considering the operating environment. Yet, expectations are high that the regulator brings its force… Read More

POLITICAL HEADLIINES

THIS DAY

INEC Extends Deadline for Collection of PVCs Till January 29

Following the pressure mounted by a cross-section of Nigerians and groups, the Independent National Electoral Commission (INEC) yesterday extended the deadline for registered voters to collect their Permanent Voter Cards (PVCs) until Sunday, January 29, 2023. Recall that INEC had earlier fixed the deadline for the collection… Read More

THE SUN

CISLAC, TI Warn INEC Against Postponing Elections

The Executive Director of CISLAC and Head of Transparency International Nigeria, Auwal Musa Rafsanjani, stated this in a statement made available to the media in Abuja. According to him, the election which is in 44 days will lose credibility if postponed, adding that it will also amount to waste of public funds. He added that why the civil society… Read More

TECHNOLOGY HEADLINES

PUNCH

Builders Eye 3D-Printed Construction Amid Rising Housing Costs 3D printed construction is radically revolutionising the way people erect structures globally.  Although the technology is relatively new in Nigeria, real estate industry players are optimistic that 2023 will birth a major breakthrough in this regard. With the country’s construction industry grappling with uncertainty due to a lack of skilled… Read More