Daily Business Headlines – JUNE 9 2023


Bears Take Control As NGX Slides Further

The Nigerian Exchange (NGX) closed negative at the end of today’s trading session.The All-Share Index (ASI) traded 0.12% lower to close at 55,956.59 index points as against 56,024.52 index points recorded in the previous day’s trading session. The market capitalization of equities depreciated by N37 billion to close at… Read More


Apapa, Tincan Ports’ Control Towers Finally Gets Facelift

The Nigerian Ports Authority (NPA) has renovated the dilapidated control towers at Apapa and Tincan ports to enhance vessel traffic management, navigation, advance visibility, safety and security as well as reduce vessel waiting time. Speaking at the commissioning yesterday, the Managing Director/Chief Executive Officer… Read More


Naira Slumps To N469.50 Per Dollar At I&E Window

The naira continued its decline against the dollar at the Investors and Exporters’ (I&E) window, Nigeria’s official foreign exchange (FX) mar- ket, yesterday as it closed at a new record low of N469.50 per dollar, compared with N466.79/$1 on Wednesday, data from FMDQ shows. According to traders, increased demand for… Read More


Manufactured Exports Decline By 40% – NBS

The National Bureau of Statistics’ Foreign Trade Statistics report, released on Monday, indicates a significant 40 per cent decrease in the value of traded manufactured goods in Q1 2023, which declined from N219bn in the corresponding quarter of the previous year to N131.1bn. The report stated the total trade of manufactured… Read More



World Bank Lists Nigeria Among Countries With ‘High Food Security Concern’

The World Bank has retained Nigeria alongside Afghanistan, Somalia, South Sudan and Yemeh as hotspots of global food security concerns, raising a red flag on the governments’ capacity to weather the storm. It is not the first time Nigeria would feature on the list but the World Bank’s latest Food Security Update says the countries… Read More


Digital Economy: Israel To Partner Tinubu Administration To Create 1m Jobs

The Israeli Government has expressed its readiness to partner with the President Bola Ahmed Tinubu’s administration to create one million jobs in the country. Israeli Ambassador to Nigeria, Michael Freeman, stated this during the official launch of the third I-Fair programme in Abuja. Freeman recalled that on May 29thRead More


Nigeria, Others Slow Africa’s GDP Growth By 65%

Nigeria, Egypt, and South Africa were responsible for 65 per cent of Africa’s Gross Domestic Product slowdown, McKinsey has disclosed. The report, which was titled ‘Reimagining economic growth in Africa: Turning Diversity into Opportunity’, stated that Africa’s GDP by 2019 should have reached $3tn, not $2.6tn if the three countries… Read More



10th NASS: Tinubu Charges Senators, Members-Elect On National Interest

President Bola Tinubu, on Thursday, charged members-elect of the 10th National Assembly to work together and ensure that they choose good leaders for both chambers after their inauguration. President Tinubu gave the charge during a meeting he held with a combined assembly of the members-elect at the State House Conference… Read More


10th Assembly: Nigerian Govs Back Akpabio, Abbas, Others – Dapo Abiodun

Governors across party lines have keyed into the choice of Senator Godswill Akpabio, Hon. Tajudeen Abbas, Senator Barau Jibrin and Hon. Benjamin Kalu as the presiding officers of the incoming 10th Assembly, Governor Dapo Abiodun of Ogun State has said. The Ogun State Governor said the governors took the decision after… Read More



5G: Nigeria Must Prioritise Consumers’ Privacy, Ethics Of Data Usage — NCC

To unlock the full potential of the fifth generation, 5G network, the Nigerian Communications Commission, NCC, has urged Nigerians to prioritise the privacy of the consumers’ data and maintain its ethical use always. NCC gave the charge yesterday at the 2023 Nigeria DigitalSense Forum on Internet Governance for Development… Read More