Daily Business Headlines – March 20, 2023


Equities Market Tumbles By N476bn

The market capitalisation of the Nigerian Exchange Limited dropped below N30tn last week, weeks after it crossed the mark, leading to a loss of N476bn for investors. This bearish trend started on Monday with investors losing N3bn to close at N 30.391 tn. On Tuesday, the market cap lost N36bn to close the day at N30.355tn. On Wednesday… Read More  


DMO To Issue Over N360bn FGN Bond Today

The Federal Government of Nigeria (FGN), through the Debt Management Office (DMO), will be conducting a bond auction today. Also in the new week, T-bills worth N161.87 billion will be auctioned by CBN via the primary market; viz: 91-day bills worth N1.10 billion, 182-day bills worth N0.92 billion and 364-day bills worth N159.85 billion… Read More  


Petrol Supply Rises By 44.2% To 488.94m Litres In 1 Week – NNPCL

The Nigerian National Petroleum Company Limited has said a total of 488.94 million litres of petrol was distributed to 63 depots across the country in the one week spanning March 11 to 17, 2023, to stabilise supply. This marked an increase of 44.2 per cent in the volume distributed compared to a total of 339 million litres of petrol distributed the… Read More


N180bn Unclaimed Dividend Represents 5% Of Total Declared In Capital Market –NGX

“Unclaimed dividends which printed at N180 billion in 2021, represents only 5 per cent of the entire dividend declared in the NCM. The Securities and Exchange Commission (SEC) continues to work assiduously with stakeholders to reduce to the barest minimum, the cases of unclaimed dividends. Recently, the Commission created an e-dividend… Read More



Analysts Anticipate 50bps Inflation Hike As MPC Holds

The Monetary Policy Committee (MPC) of the Central Bank of Nigeria (CBN) is scheduled to hold the second meeting for the year today (Monday, March 20 and Tuesday, March 21, 2023) to decide on the monetary policy direction of the country, a decision many analysts say would be a continuation of its hawkish stance. Analysts project that the… Read More


Analysts Explain Misalignment Between Nigeria’s Inflation Rate, CBN’s Policy Thrust

Analysts have lamented soaring inflation rate in the country, saying it has remained unresponsive to the CBN’s strategy largely due to the fault lines in policy transmission mechanisms, lack of synergy between fiscal & monetary authorities, and negative spill-overs from the external environment. Their worries was sequel to the moderation… Read More


FG Rakes In N10tn VAT Under Buhari – NBS

The Federal Government has raked in N10.1tn from the collection of Value Added Tax under the regime of the President, Major General Muhammadu Buhari (retd.). This comes against the backdrop of the advice by the Minister of Finance, Zainab Ahmed, that the incoming government should increase the VAT from the current 7.5 percent… Read More




Constitutional Alteration Bills: Buhari’s Attempt At Restructuring

On Friday, the presidency announced that President Muhammadu had assented to 19 bills, 16 of them being constitutional alterations of the 1999 constitution of the Federal Republic of Nigeria (as amended). The action is in furtherance of Section 58 (4) of the Constitution and falls within his oft-repeated response to restructuring agitators that the… Read More


Federal Government, Politicians Ran Oil Sector Into Crisis – Report

The incessant scarcity of Premium Motor Spirit, popularly called petrol, vandalism of pipelines, oil theft and several other menaces in the oil and gas sector are due to the gross mismanagement of the industry by the Federal Government and politicians, the Centre for the Promotion of Private Enterprise has said… Read More



Guinness Nigeria: Sustaining Dominance Via Innovations

Guinness Nigeria Plc traded at 67.50 on Friday February 17, 2023 The current share price of Guinness Nigeria (GUINNESS) is NGN 67.50. GUINNESS closed its last trading day (Friday, February 17, 2023) at N67.50 per share on the Nigerian Stock Exchange (NGX). Guinness began the year with a share price of N69.30, ranking it 139th on the… Read More