Daily Business Headlines – JULY 26 2023


Investors’ Wealth Rises By N394b Amid Anticipation Of H1 Earnings

Anticipations of positive half-year earnings (H1) and interim dividend declaration have continued to spur positive sentiments in the equities sector of the Nigerian Exchange Limited (NGX) as more highly capitalised stocks join the league of gainers, causing market capitalisation to rise by N394 billion. At the close of transactions yesterday… Read More


African SMEs Task Tinubu On Enabling Business Climate

African Association for Small and Medium Enterprises (AASME) Council has called on President Bola Tinubu, to as a matter of urgency, embark on creating an enabling environment for the unorganised private sector to thrive alongside their counterparts elsewhere. It also advised, beginning from this year, to allocate a minimum… Read More


Cooking Gas Price Drops 6.71% To N4, 068.26 — NBS

The average retail price for refilling a 5kg Cylinder of Liquefied Petroleum Gas (Cooking Gas), dropped by 6.71 per cent on a month-on-month,   MoM basis to N4, 068.26 in June 2023, from N4, 360.69 in May 2023. Also, on a year-on-year, YoY basis, it dropped by 3.56 per cent from N4, 218.38 in June 2022. However, a state profile analysis… Read More


Airlines Involved In Contaminated Fuel Cooperating –NCAA

The Nigerian Civil Aviation Authority has disclosed that the airlines involved in the recent contaminated aviation fuel were cooperating with the investigation. The PUNCH reports that the NCAA suspended all the Boeing B737 aircraft in the fleet of Max Air because of contaminated fuel found in them. The Director of Public Affairs at NCAA… Read More



CBN Raises Lending Rate 18.75% To Curb Inflation

The Monetary Policy Committee (MPC) of the Central Bank of Nigeria (CBN) rose from its 149th meeting on Tuesday, with a decision to raise the lending rate from 18.5 to 18.75 percent, to curb the country’s inflation currently pegged at 22.79 percent. The committee also adjusted the asymmetric corridor from +100/-700 to +100/-300… Read More


IMF Retains Nigeria’s Economic Growth Forecast At 3.2%

The International Monetary Fund, IMF has retained its 3.2 forecast for Nigeria’s economic growth in 2023. Meanwhile, the IMF lowered its forecast for Sub-Saharan economic growth in 2023 by 0.1 percentage point to 3.5 per cent. The Fund however raised its forecast for global economic growth in 2023 by 0.2 percentage points to 3.5 per cent… Read More


Gradual Phasing Out Of Old Naira Notes Continues – CBN

The Central Bank of Nigeria has reaffirmed its commitment to gradually phase out the old N200, N500, and N1,000 naira notes while issuing new currencies. This announcement was made by the acting governor of the apex bank, Folashodun Shonubi, during the Monetary Policy Committee meeting held at the CBN headquarters in Abuja on… Read More



Bayelsa, Imo, Kogi Guber: INEC Warns Against Use Of Thugs, Harassment Of Election Officials

The Independent National Electoral Commission (INEC) has warned leaders of political parties participating in the Imo, Bayelsa and Kogi states gubernatorial elections against deploying thugs and harassing election officials during the November 11 polls. INEC Chairman, Mahmood Yakubu, who spoke, yesterday,  in Abuja,  at a meeting… Read More


Abbas Seeks More Nigerian, German Parliament Collaboration

Speaker of the House of Representatives, Hon. Abbas Tajudeen, has called for more collaborations and engagements between the Nigerian National Assembly and the German Parliament also known as “The Bundestag”. Abbas also urged Germany to emulate the United Kingdom (UK) in the advancement and sustenance of democracy… Read More



NCC Draws New Roadmap To Strengthen Telecom Industry

The Nigerian Communications Commission (NCC) has began a new roadmap to strengthen quality service regulations in the industry to meet up with the changes in technology development. The commission said this during the public inquiry on six regulatory instruments and the draft presentation on Tuesday in Abuja. The Executive… Read More