Daily Business Headlines – JANUARY 24, 2024

GUARDIAN

Gains In Seplat, 16 Stocks Lift Capitalisation By N1.6 Trillion

The Nigerian equities market sustained rising profile at the close of transactions yesterday as price appreciation in Seplat Energy Plc and 16 others lifted the overall market capitalisation up by N1.559 trillion. Yesterday, the All-Share Index rose by 2,848.85 per cent, representing a gain of 2.97 per cent, to close at 98,616.97 points. Similarly… Read More

PUNCH

Marketers Kick As NNPCL Delays Fuel Supply

Oil marketers under the aegis of the Independent Petroleum Marketers Association of Nigeria have berated the Nigerian National Petroleum Company Limited for alleged delay in the supply of petroleum products. As a result, the marketers said they had been forced to boycott the NNPCL to source fuel from private depot owners at a higher cost… Read More

SMEDAN N19bn Allocation Shows Federal Government’s Commitment To Business Growth – CBN

The Central Bank of Nigeria has said that the 238.87 per cent increase in the allocation for the Small and Medium Enterprises Development Agency of Nigeria to N19.79bn in the 2024 budget is an indication of the Federal Government’s commitment to boosting the business environment. CBN’s Deputy Governor, Economic Policy, CBN, Muhammad… Read More

SUN

Federal Government Eyes 100,000 Jobs, 50,000MT Cooking Gas With New Depot

Minister of State Petroleum Resources (Gas), Mr. Ekperikpe Ekpo, has said that the planned NesGas depot, expected to produce 50,000 Metric Tonnes (MT) Liquefied Petroleum Gas (LPG),  popularly called cooking gas, is loaded with the prospects of bridging Nigeria’s growing energy demands. He also said the facility was capable of creating… Read More

ECONOMY HEADLINES

GUARDIAN

Blinken, Tinubu Hold Bilateral Talks On Security, Economic Cooperation

United States Secretary of State Antony Blinken yesterday pledged $45 million in additional financing to tackle the escalating security concerns in Nigeria and neighbouring coastal West African countries, where insecurity linked to jihadist insurgencies has increased in recent years. The funding will supplement $300 million the U.S. has already invested… Read More

PUNCH

Federal Government to sell five power plants for $1bn

The Federal Government through the Bureau of Public Enterprises is currently carrying out transactions for the sale of five power plants under the National Integrated Power Projects at a cost of about $1.15bn, it was gathered on Tuesday. Although sources familiar with the development explained that the cost of the plants should exceed $5bn based… Read More

FAAC: Federal Government, States, Local G Governments Share Over N1tn

The Federation Account Allocation Committee announced that it shared N1.13tn of earnings in December 2023 among the Federal Government, States, and Local Government Councils. This is N500bn more than the N1.08tn shared among the three tiers of government in November. The FAAC in a communiqué after its January 2024 meeting… Read More

POLITICAL HEADLIINES

SUN

Mutfwang Imposes 24-Hour Curfew On Mangu Over Renewed Killings

Governor Caleb Mutfwang of Plateau State has declared a 24-hour curfew in Mangu Local Government Area following a resurgence of crisis in the area. Daily Sun had reported that no fewer than 200 people were killed, thousands displaced and property worth of millions Naira destroyed in what has now become Christmas Eve massacre in three local… Read More

VANGUARD

Kidnapping: Wike Asks Abuja Councils To Strengthen Vigilance Teams, Procures More Vehicles

The Minister of Federal Capital Territory, FCT, Ezenwo Nyesom Wike, has directed chairmen of the six area councils in the territory to strengthen the local vigilance teams in their areas by ensuring that their needs were adequately met. Speaking at a security town hall meeting with stakeholders and residents of Kwali Area Council at Kwali… Read More

TECHNOLOGY HEADLINE

GUARDIAN

5G In 30 Nigerian Cities As NCC Tasks Operators On Expansion

The Nigerian Communications Commission (NCC) has said that the Fifth Generation (5G) network has only reached about 30 cities in Nigeria. Going into its third year of commercial launch in Nigeria, NCC assures of further expansion with clarion calls on the licensees to roll out in more cities. In the last NCC updated subscription statistics as of August… Read More