Daily Business Headlines – March 31, 2023


Investors Recover N441b Amid Gains In MTNN, 22 Stocks

The Nigerian Exchange Limited (NGX) sustained gains at the close of transactions yesterday, as price appreciation in MTN Nigeria and 22 stocks lifted market capitalisation further by N441 billion. At the close of trading, market capitalisation of listed equities increased by 1.51 per cent to close at N29.642 trillion from N29.201 trillion… Read More


NDIC Assures Nigerians Of Safety Of Bank Deposits

The Nigeria Deposit Insurance Corporation (NDIC) on Thursday in Enugu assured depositors of the safety of their money against unusual bank failures. The assurance was given by the Senior Manager, Enugu Zonal Office of NDIC, Mr Othman Afolayan who represented the Managing Director, Mr Bello Hassan at the NDIC Day at the… Read More


Dangote Lists N300bn Bonds On NGX, FMDQ To Finance Refinery

Dangote Industries Limited (DIL) has formally listed its N300 billion Series 1 and 2 bonds issued under the Dangote Industries Funding Plc during a grand listing ceremony at both the FMDQ and the Nigeria Exchange Limited (NGX) in Lagos. Olakunle Alake, Group Managing Director of Dangote Industries Limited told investors during the listing… Read More


Nigeria’s Fertiliser Imports Rise By 277.619MT, Says Africafertiliser

Fertiliser statistics provider, AfricaFertiliser, has revealed that the official fertiliser imports to Nigeria increased by 65 per cent to 706,922MT in 2021 from 429,303 in the previous year. The disclosure was made on Wednesday during the fertiliser statistics overview for Nigeria (2017-2021) held in Lagos. The overview, a partnership between… Read More



OPS Predicts Woes As National Debt Hits N46tn

The Debt Management Office, on Thursday, revealed that Nigeria’s total public debt stock increased to N46.25tn or $103.11bn in the fourth quarter of 2022. The latest figure has made members of the organised private sector and economists to predict that tougher days are ahead for Nigerians and firms. The national debt as of September, 2022… Read More


Nigeria Loses $1bn Annually To Non-Certification Of Agri-Produce For Export

Nigeria has failed to benefit from multibillion-dollar agricultural items exported from West Africa due to non-certification of its farm produce such as yam, mangoes, shrimps, garlic, ginger and others. Ghana, Cameroon, Mali and other countries have been benefitting from the export of their farm produce such as plantain, mangoes, yam, which… Read More


Nigeria Among Countries With Significant Gas Flare Reduction In 2022

The World Bank has acknowledged that Nigeria significantly contributed to global gas flare reduction in 2022. The bank reported that progress in reducing gas flaring resumed in 2022, with gas flared worldwide falling by 5 billion cubic meters (Bcm) to 139 Bcm. This, it said, is its lowest level since 2010, according to new satellite data compiled by the… Read More



2023 Elections: Now That A Winner Has Emerged, Creating An Enabling Environment

Aside from the genes we inherited from our parents as humans, one major factor that determines our personality and prosperity is the environment we are nurtured. Those raised in prosperous environments have the tendency to propagate this prosperity to generations unborn, all things being equal. Ostensibly, Nigeria was a prosperous… Read More

2023 Polls: INEC Fared Well, Says Group

An election reform campaign group operating under the aegis of Partner for Electoral Reform has applauded the Independent National Electoral Commission, INEC, for its handling of the 2023 election conduct, saying the nation’s electoral umpire fared well in its performance. It, however, noted that there were glitches at the point of collation of results… Read More



Nigeria’s Internet Subscribers Hit 156m In February

Telecommunication companies (telcos) in Africa’s biggest economy reported a total of 156 million active subscribers to data services in February, despite Starlink traction in Nigeria, the latest data from the Nigerian Communications Commission (NCC) has shown. MTN accounted for the majority of the increase, with 66.7 million active internet… Read More