Daily Business Headlines – NOVEMBER 24, 2023


Investors Gain N27bn From Stock Trading Amid Portfolio Rebalancing Activities

A 0.07 per cent growth was recorded by the Nigerian Exchange (NGX) Limited on Thursday as traders rebalanced their portfolios, picking up equities with the possibility of appreciating in price in the short and medium term. This boosted the value of Customs Street during the session by N27 billion as the market capitalisation closed at N39.075 trillion… Read More


Cardoso To Deliver Financial Sector Roadmap At Bankers’ Dinner

After a seemingly lengthy wait, the Governor of the Central Bank of Nigeria (CBN), Dr Olayemi Cardoso, is expected to deliver his economic roadmap for Nigeria at the annual Bankers’ Dinner of the Chartered Institute of Bankers of Nigeria (CIBN) scheduled to hold today. Cardoso was initially expected to present his financial sector roadmap… Read More


NNPCL Ends Fuel Import December 2024, Projects N4.5tn Revenue

The Nigerian National Petroleum Company Limited, on Thursday, said it would end the importation of refined petroleum products by December 2024 as all the country’s refineries would be operational by then. It also projected that the national oil firm would grow its revenue to N4.5tn at the end of 2023 adding that the rehabilitation of the Port… Read More


Federal Government Assures Of Gas Availability, Enabling Environment For CNG

The Federal Government has reiterated its commitment to ensuring there is sufficient gas in the country, saying it has put in place measures that would drive the compressed natural gas (CNG) project. Special Adviser on Energy to President Bola Tinubu, Olu Verheijen, said this during the ground-breaking ceremony of Portland Gas in Lagos. Represented… Read More



Federal Government, States Plan 18 Million Agric Jobs, $1.5bn Funds

The National Economic Council on Thursday announced plans to channel at least $1.52bn donor funds into 36 special agro-industrial processing zones across the nation, aiming to create over 18.1 million jobs, including 100,000 farmers nationwide. The first phase, which now runs in Kano, Kaduna, Kwara, Ogun, Oyo, Imo, Cross River states as… Read More


Modular refineries to tackle Nigeria’s low in-country refining capacity – Federal Government

The Minister of State for Petroleum Resources(Oil), Heineken Lokpobiri, has said modular refineries are the  shortest strategies to addressing Nigeria’s problem of low in-country refining. The Minister stated this during his official visit to the Waltersmith Refinery located in Ibigwe, Imo State. ‘‘I am very proud of what I have seen. I also want to… Read More


Federal Government Partners Manufacturers On Raw Materials Development

The federal government has vowed to strengthen collaboration with manufacturers towards building a self-reliant and prosperous nation with sustained competitiveness in raw materials and products. The Minister of Innovation, Science and Technology, Chief Uche Nnaji, who disclosed this at the ongoing seventh edition of the Nigerian Manufacturing… Read More



PDP Governors Tasks Federal Government On New Revenue Sharing Formula

Peoples Democratic Party Governors Forum (PDP) has called on the Federal Government to introduce a new revenue allocation formula that will give more money to states and local government areas. The forum said this in a communique issued after its meeting in Abuja and read by its Chairman, Governor Bala Mohammed of Bauchi State… Read More


Federal Government To Fish Out Prison Warders Aiding Terrorists

The Minister of Interior,  Olubunmi Tunji-Ojo, has directed the Controller General General of the Nigerian Correctional Service, Haliru Nababa, to investigate the allegation that some personnel aid terrorists. The Chief of Defence Staff,  Gen.  Chris Musa, had accused some personnel of the correctional service of conniving with inmates to finance the… Read More



UK-Nigeria Tech Hub Opens Applications For Accelerator Program In 6 Nigerian States

The UK-Nigeria Tech Hub, an initiative by the UK Government’s Department for Digital, Culture, Media, and Sports (DCMS), has opened applications for a social impact accelerator program to support the growth of the technology ecosystem in Nigeria.  The program is specifically targeting startups from 6 Nigerian states, which include Edo… Read More