Daily Business Headlines – JANUARY 29, 2024


NGX Appreciates By 8.32% As Investors Gain N4.3 Trillion In One Week

In the week between January 22-26, 2024, the Nigerian Exchange (NGX) appreciated by 8.32% to close at 102,401.88 points, an increase of 7863.76 points from last week’s 94,538.12. During the week, equities gained N4.303 trillion as the market cap closed at N56.038 trillion, from last week’s N51.735 trillion. In the market, all indices… Read More


Naira: Manufacturers Plan General Price Hike

Manufacturers have predicted fresh hikes in the prices of commodities in the market to rise in response to the continued fall of the naira against the United States dollar. On Friday, the naira plunged to N1,420/$ at the parallel window of the foreign exchange market. The President of the Manufacturers Association of Nigeria, Francis Meshioye… Read More

NNPCL Remitted Zero Allocation To Federation Account In 2022 – CFO

The Nigerian National Petroleum Company Limited remitted literally zero funds to the Federation Account in 2022 due to the payment of subsidy on Premium Motor Spirit, popularly called petrol, the Chief Financial Officer, NNPCL, Umar Ajiya, has said. NNPCL is a major revenue generating agency in Nigeria, operating as the national oil… Read More


Banks Register 291,232 BVN In Two Weeks

The number of bank customers that have registered for the Bank Verification Number (BVN) in the last two weeks was 291,232, bringing the total number to 60.49 million. The Nigeria Inter-Bank Settlement System (NIBSS) disclosed this. The rush is instigated by the Central Bank of Nigeria’s (CBN) plan to halt bank accounts that are not linked to BVN… Read More



Burkina Faso, Mali, Niger Pull Out Of ECOWAS

The military regimes in Burkina Faso, Mali and Niger yesterday announced their immediate withdrawal from the Economic Community of West African States, ECOWAS, saying it had become a threat to member states. The ECOWAS Commission, however, said the community is ready for a “negotiated solution” with the three countries But the… Read More


70% Of Nigeria’s Food Products Rejected Abroad –NAFDAC

National Agency for Food and Drug Administration and Control (NAFDAC) has lamented the negative response often accompany Nigeria’s food and agricultural products that exported to European Union (EU) and other countries of the world. It said Nigeria losses billions of naira annually in foreign trade that could have benefitted its people in terms of… Read More

Chinese Firm To Finance $27.29bn Escravos Seaport Project

Hopes of deepening the blue economy project of the federal government brightened at the weekend with a Chinese firm, EDIB International Limited of Hong Kong, expressing its willingness to pool $27.29 billion to develop the  Escravos Seaport Industrial Complex (ESIC) project. The project, located in Escravos (Gbaramatu Island/Omadino)… Read More



CAS Apologises To Victims, Families Of Nasarawa Accidental Air Strikes

The Chief of Air Staff (CAS), Air Marshal Hasan Abubakar, has visited the families and victims of recent accidental air strikes in Nasarawa State. The Nigerian Air Force (NAF) aircraft accidentally bombed civilians during operations near Rukubi in Doma Local Government Area on January 24. A statement yesterday in Abuja by NAF’s… Read More


Mangu Killings: What We Want Speaker Abbass To Discuss With Tinubu –Dachung Bagos, Ex-Reps Member

Disturbed by the worsening situation in Plateau, Speaker of the House of Representatives, Tajudeen Abbas, disclosed that he is set to meet with President Bola Tinubu, with a view to finding  measures  to secure the lives and the property of the people. In this interview with Arise News Television’s Morning Show monitored from Abuja, Hon. Dachung… Read More



Federal Government Set To Digitize All Government Services To Protect Citizens’ Data

The Federal Government has said it is on the verge of digitizing all public services to harness the benefits of the digital economy and ensure adequate protection of the citizens’ data. The Minister of Communications, Innovation and Digital Economy, Dr. Bosun Tijani, disclosed this on Sunday during a press conference to mark the Global Data… Read More