Daily Business Headlines – NOVEMBER 13, 2023


Investor’ Optimism Fuels Market Cap With N370bn Gain In One Week

Fueled by recent developments in the foreign exchange (FX) landscape, bullish sentiments pervaded Nigeria’s stock market as investors’ demand for stocks pushed market capitalisation up N370 billion in one week. Notably, the market recorded gains on all trading sessions, driven by increased demand for BUA Cement (+6.5 percent), FBN… Read More

NNPC Ltd Restores Production Of 275,000bpd

Following a peace deal brokered on Sunday by the Nigerian National Petroleum Company Limited, NNPCL, between the management of Total Energies, operator of the NNPC/Total JV, the Petroleum and Natural Gas Senior Staff Association, (PENGASSAN) and the Nigeria Union of Petroleum and Natural Gas Workers (NUPENG), the unions have… Read More


Dangote Refinery Secures Licence To Refine 300,000bpd Crude

Africa’s richest man, Aliko Dangote, has said his refinery has secured a licence to refine more than 300,000 barrels of Nigerian crude per day and will begin to process gasoline soon. “We don’t want to start our refinery with foreign goods, we want to start with the Nigerian crude,” Dangote said in an interview in Riyadh on the sidelines of… Read More

Palliative: Oil Marketers Take Delivery Of 100 CNG Buses

Oil marketers have received about 100 gas mass transit buses they promised to donate following the removal of fuel subsidies. The Executive Secretary of the Major Oil Marketers Association of Nigeria, Clement Isong, revealed this to our correspondent on the sideline of a media parley at the just-concluded 17th edition of the 2023 Expo of the Oil… Read More



NEITI, EFCC Go After Criminals In Oil, Mining Sectors

The Nigeria Extractive Industries Transparency Initiative (NEITI) and the Economic and Financial Crime Commission (EFCC) have strengthened ties to take on criminals in the oil and gas and mining sectors. The Executive Secretary of NEITI, Dr. Orji Ogbonnaya Orji and the Executive Chairman EFCC, Mr. Ola Olukoyede made the commitments … Read More


Federal Government Targets 1.9m Bpd, Intensifies Fight Against Oil Theft

In an interview with the News Agency of Nigeria (NAN) on Sunday, Bello Matawalle, Minister of State for Defence, reported substantial progress in the Federal Government’s campaign against oil theft. Practical achievements in curbing oil theft in the Niger Delta region have been realised. Additionally, there is optimism that the country can reach… Read More


Afreximbank To Launch $1bn African Film Fund

THE African Export-Import Bank (Afrexim) is working on the establishment of a $1 billion African Film Fund to be launched in 2024, to support the continent’s film industry, Kanayo Awani, Executive Vice President, Intra-African Trade Bank at Afreximbank, announced in Cairo, Egypt last week. Addressing the opening of the 2023 CANEX Summit… Read More



PDP, LP Kick As Uzodimma, Ododo Win, Protests In Bayelsa

The Peoples Democratic Party and the Labour Party on Sunday cried foul as Governor Hope Uzodimma, the candidate of the All Progressives Congress, was declared the winner of Saturday’s governorship poll in Imo State by the Independent National Electoral Commission. The electoral body affirmed Uzodimma’s re-election, having… Read More


13 Percent Oil Derivation: APC Chieftain Advises Tinubu On Paying Through State Governors

As the Federal Government of Nigeria delves into the implementation of Petroleum Industries Act PIB signed into law by former President Mohammadu Buhari, a Chieftain of the All Progressive Congress APC, Dr Garus Gololo, has allayed fears, with an indication that the 13 percent meant for the host communities, should not pass through … Read More



Google Brings Generative AI To Search In Nigeria, SSA

Google has rolled its Search Generative Experience (SGE) in Nigeria and other parts of Sub-Saharan Africa region as an opt-in experiment in Search Labs. This AI-powered experience is available in English. With new breakthroughs in generative AI, Google is reimagining what a search engine can do and is bringing these powerful new… Read More