Daily Business Headlines – JANUARY 25, 2024


Index Crosses 100,000 Mark, Amid Bargain Hunting In Dangote Cement, Others

The Nigerian Exchange Limited (NGX) achieved a new record of 100,000 mark as sustained bargain hunting in Dangote Cement Plc propelled the all-share index (ASI) to rise by three per cent. ASI rose by 2,954.14 points, representing a gain of three per cent, to close at 101,571.11 points. Similarly, the overall market capitalisation value gained… Read More


Maize, Paddy Rice Prices To Rise In 2024 – AFEX

AFEX has projected that the prices of maize and paddy rice will rise by 25 per cent and 40 per cent, respectively, in Nigeria this year. The forecast was contained in the report which was released on Wednesday in Lagos. In 2023, maize prices fluctuated greatly, reaching a peak of N550,000/mt in Q3 and closing the year at N480,000/mt. The increase… Read More

NNPCL Privatises Pipelines Rehabilitation, Builds PH Refinery Storage

The Nigerian National Petroleum Company Limited has constructed a 150 million litres storage facility for the Port Harcourt Refining Company ahead of full operations of the plants, the company stated on Wednesday. It said the storage facility was constructed in Atlas Cove, adding that the company had signed Build, Operate and Transfer… Read More


Consumer Safety: LASCOPA Urges Manufacturers, Others To Register With NAFDAC

The Lagos State Consumer Protection Agency (LASCOPA) has called on manufacturers, entrepreneurs and everyone in the food supply chain business to ensure all consumable food products being produced and sold to consumers are registered with the National Agency for Food and Drugs Administrative Control (NAFDAC). The agency… Read More



Federal Government Projects N19.4tn Revenue In 2024

The Federal Government has set a tax revenue target of N19.4tn for 2024. This is as the Federal Inland Revenue Service collected a record N12.37tn in tax revenue for the federation in 2023, surpassing the year’s target of N10.7tn. According to the chairman, FIRS, Dr Zacch Adedeji, the new target is achievable because of an effective tax… Read More

NNPCL, Federal Government Will Now Remit Dollar Revenue To CBN – Cardoso

The Nigeria National Petroleum Corporation Limited and the Ministry of Finance have agreed to remit all their dollar revenues to the Central Bank of Nigeria, CBN, to boost the nation’s External Reserves and foreign exchange flows into the country. The apex bank’s governor, Olayemi Cardoso, disclosed this during his keynote speech at the… Read More


Customs Realises N90.43billion From Lagos Airport

The Area Controller, Comptroller Muhammad Yusuf, in a media conference on Wednesday in Lagos, also added that the command had been given N144 billion as target for 2024. Yusuf noted that in comparison to the revenue collected during the same period in 2022, this stood at N69.77 billion. He said that to achieve this year’s target, the… Read More



10 Ibadan Explosion Victims Still Missing – Resident Association

The Bodija Estate Residents Association, Ibadan, on Wednesday, said about 10 people were still missing following the January 17 explosion in the area. The PUNCH reports that five people died, 77 sustained varying degrees of injury and 58 houses were damaged during the explosion that rocked Dejo Oyelese street in Ibadan, Oyo State… Read More


Plateau: Over 30 Killed, Houses Burnt As Gunmen Defy Curfew

Over 30 persons were killed and several houses destroyed, yesterday, in the Kwahaslalek and the surrounding communities, as gunmen defied the 24-hour curfew imposed on Mangu Local Government Area by the Plateau State government, on Tuesday. Recall that Governor Caleb Mutfwang had declared a 24-hour curfew in Mangu, following the… Read More



Adopt Technology To Tackle Healthcare Challenges – Tijani

The Minister of Communications and Digital Economy, Bosun Tijani, has advocated the adoption of technology to address healthcare challenges in Africa. Tijani made this disclosure during an event co-hosted by GAVI and Zipline at the just concluded World Economic Forum in Switzerland. Tijani said, “There is an urgent need to… Read More