Daily Business Headlines – MAY 30 2023

NAIRAMETRIC

NGX Ends The Week Positive As Market Capitalization Gains N45 Billion

The Nigerian Exchange (NGX) closed bullish as the All-Share Index appreciated by 1.51% in the week ended 26th May 2023. This is following the -0.05% loss recorded in the previous week. The Market Capitalization gained N45 billion to close at N28.845 trillion as against N28.417 trillion recorded last week. The month-to-date performance of… Read More

Bonds Issuances Increased By 502.4% In 5years

The managing Director of Investment Banking at Chapel Hill Denham Advisory Limited, Mrs Kemi Awodein has disclosed that Corporate and subnational bond issuances increased by 502.4% between FY 2017 and FY 2022 (5 years). Awodein stated this at the Association of Corporate Trustees’ 2023 Business Luncheon themed ‘Corporate Trustee… Read more

VANGUARD

Petrol Price Jumps To N350/Ltr As Queues Return`

The downstream end of the Nigerian petroleum industry has gone into a frenzy as operators respond to the immediate removal of subsidy on petrol with a sharp hike in pump price just as consumers crowded to the petrol stations. Commercial transporters have also hiked their trip fares across the country in response to the developments. On his…Read More

PUNCH

FG borrowed N6tn from CBN in 2022 – Report

The Federal Government borrowed N6.07tn from the Central Bank of Nigeria through Ways and Means Advances in 2022, according to recent data from the apex bank.This pushed the Federal Government’s borrowing from the CBN from N17.46tn in December 2021 to N23.53tn in December 2022. However, The PUNCH observed that the… Read More

ECONOMY HEADLINES

VANGUARD

Tinubu Hits Ground Running, Removes Fuel Subsidy

President Bola Tinubu said yesterday said that the era of petrol subsidy was gone, noting it was not sustainable. He also promised to review the naira re-design policy of the immediate past administration and unify the country’s exchange rate windows. The President equally said the February 25 presidential election that brought him to power was… Read More

Stakeholders Back Uniform Exchange Rate Policy

Association of Bureaux De Change Operators of Nigeria (ABCON) and Chief Executive Officers of investment firms have commended the uniform exchange rate policy pronounced by President Bola Tinubu describing it as a right step that will eliminate sharp practices, enhance transparency, competition, foreign investment inflow henc… Read More

DAILYTRUST

Nigeria Targets N1.843tr From Abuja, Kano Airports Concession

This is contained in a statement from the Head of Press and Public Affairs, Federal Ministry of Aviation, Oluseyi Odutayo, yesterday about the ongoing Nigeria Airport Concession Programme (NACP). The ministry which seeks the cooperation of Nigerians towards the successful concession of the major airports highlighted the expected… Read More

POLITICAL HEADLIINES

VANGUARD

28 Govs Take Over, Promise Rapid Devt Of States

NO fewer than 28 governors made up of 18 fresh hands and 10 returning chief executives, yesterday, took over in states across the country with a promise to turn the fortunes of the states around. At colourful oath-taking and hand-over ceremonies that lit up the polity, the governors, some of who hit the ground running, outlined how they would… Read More

GUARDIAN

Niger Delta Stakeholders Set Agenda For Tinubu

Like some other regions in the country, the Niger Delta people, feeling marginalised and still calling for resource control, have put forward a number of demands on the government of President Bola Tinubu. President of the Ijaw National Congress (INC), Prof. Benjamin Okaba, listed the issue of environmental degradation as very cardinal, saying… Read More

TECHNOLOGY HEADLINES

GUARDIAN

Federal Government  Launches National Policy On Blockchain Technology

The Minister of Communications and Digital Economy, Prof. Isa Pantami, has inaugurated the National Committee on the implementation of the National Blockchain Policy for Nigeria. The launch followed the approval and directive of President Muhammadu Buhari, earlier in the month. The President, while conveying his approval to the minister… Read More