Daily Business Headlines – NOVEMBER 27, 2023

SUN

Buying Interests Boost Market Cap By N65bn Amid Cautious Trading

As key stock market indices across the globe experienced a sluggish week, partly due to the Thanksgiving Holiday observed in the US and Japan, Nigeria’s stock market also faced subdued momentum as investors traded cautiously. Despite concerns about the inconsistencies in the Monetary Policy Committee (MPC) meetings, especially… Read More

Federal Government Wades Into Cooking Gas Crisis, Sets Up Committee To Crash Price

To arrest the escalating price of Liquefied Petroleum Gas (LPG), otherwise known as cooking gas, the Minister of State for Petroleum Resources (Gas) Ekperikpe Ekpo, has constituted a committee with the mandate to come up with recommendations on how to boost supplies and crash LPG prices within a week. The meeting, at the… Read More

PUNCH

N130bn Pension Fund Invested In Infrastructure – PENCOM

Pension Fund Administrators invested N130.18 billion funds under the Contributory Pension Scheme in infrastructure as of the end of September 2023. Figures obtained from the National Pension Commission on ‘Unaudited report on pension funds industry portfolio for the period ended 30 September 2023- Approved Existing Schemes, Closed… Read More

GUARDIAN

Nigeria To Get $134 Million AFDB Loan For Staple Food Farmers

African Development Bank (AfDB) has signified intention to loan Nigeria $134 million as an integral part of the National Agricultural Growth Scheme and AgroPocket (NAGS-AP) Project. The facility is to expand the capacity of farmers to engage in the cultivation of key staples like rice, maize, cassava, and wheat across the country. Minister of… Read More

ECONOMY HEADLINES

SUN

Nigeria’s Revenue Fell $1.4bn In 5 Years Amid FX Restrictions –Cardoso

The Governor, Central Bank of Nigeria (CBN), Dr Olayemi Cardoso, has revealed that the country’s revenue suffered a significant drop of approximately $1.4 billion, or $275 million annually, between 2015 and 2019 at a time  when the 43 items were restricted. This was even as he stated that there was a 51.0 per cent increase in trade evasion by… Read More

Rejection Of Nigerian Exports Abroad To End Soon –Mohammed, FAAN MD

Managing Director of the Federal Airport Authority of Nigeria (FAAN), Kabir Mohammed, has assured that the agency will support the development of new Standard Operating Procedures for operators in the cargo terminals in Nigeria that will bring to an end, the rejection of Nigerian exports abroad. Mohammed who said this during the… Read More

PUNCH

Federal Government Welcomes Mexican Investors, Promises Incentives

The Minister of Solid Minerals Development, Dele Alake, has praised the decision of investors from the Republic of Mexico to visit Nigeria in search of investment in solid minerals. In a statement signed by the Special Assistant to the Minister on Media, Segun Tomori, on Sunday, Alake said the administration of President Bola Tinubu… Read More

POLITICAL HEADLIINES

BLUEPRINT

2023 Polls: Don’t Drag Yourself Into Politics, Kukah Cautions Nigeria’s Judiciary

The Archbishop of Sokoto Catholic Diocese, Bishop Matthew Hassan Kukah, has called on the judiciary to redeem its image by dispensing justice without fear or favour, noting that Nigeria’s judiciary has become entangled in politics. This was just as Senator Shehu Sani, who represented Kaduna Central in the 8th National Assembly, called on… Read More

TRIBUNE

Appeal Court Sacks 16 PDP State Lawmakers, Five National Assembly Members

THE Court of Appeal sitting in Abuja has sacked all the 16 members of the Plateau State House of Assembly who are members of the Peoples Democratic Party (PDP) for disobedience to court order and lack of political structure. Meanwhile, a stalwart of the All Progressives Congress (APC), Professor John Wade, declared that the PDP… Read More

TECHNOLOGY HEADLINE

SUN

Maida Urges Nokia To Invest In Nigeria’s ICT R&D

The Executive Vice Chairman and Chief Executive Officer (EVC/CEO) of the Nigerian Communications Commission (NCC), Dr. Aminu Maida, has requested Nokia Networks to increase its investments in Research and Development (R&D) to support the growth of Information and Communication Technology (ICT) in Nigeria. Maida spoke… Read More