Daily Business Headlines – November 7, 2022

November 7, 2022

Business Headlines


Investors Stake N15.5 billion on Equities in One Week

At the close of transactions last week, a turnover of 1.4 billion shares worth N15.5 billion was recorded in 19,025 deals by investors on the floor of the Nigerian Exchange Limited (NGX). This volume of shares traded was, however, higher than 598.8 million units valued at N14.2 billion that exchanged hands in 15,859 deals on October 28, 2022… Read More

How Weak Judicial, Arbitration Systems Undermine Nigeria’s Investment Drive

One of the factors that discourage investments, particularly from foreign investors, in developing countries is the absence of an effective and reliable dispute resolution mechanism. Nigeria, in particular, is of great interest to foreign investors across the globe. Rich in natural resources, and with a diversifying economy, Nigeria offers… Read More


Agusto&Co: With Availability of Dollar-based Mutual Funds, Asset Management Funds Will Hit N3.5trn in 2024

Following Monetary Policy Rate Hikes and increased availability of Dollar-based Mutual funds, asset management funds are slated to grow 10 per cent yearly in the next three years, reaching the N3.5 trillion mark by 2024, Agusto&Co has said. In its latest report titled, “2022 Asset Management Industry Report,” Agusto&Co said Nigeria remains… Read More


Federal Government Pushing Manufacturers, Others out of Existence — MAN, NECA, NACCIMA, Others

The Organised Private  Sector, OPS, has raised the alarm that government’s choking policies were pushing manufacturing and other businesses out of existence. OPS made up of five business groups in Nigeria, rejected the government’s proposed increase in excise duty on food and beverages, especially on alcoholic, non-alcoholic beverages drinks… Read More



CBN’s Loans to Federal Government Hit N23trn

Nigeria’s continuous borrowing could keep its economy in jeopardy as latest investigations revealed that total Central Bank of Nigeria’s Ways and Means loans to the Federal Government have now risen to N22.8 trillion as of September 2022. This is coming after data from the bank’s periodic publications revealed that its Ways and Means’ loans… Read More


Report: Naira Now Among Worst Performing Currencies Globally

While officially, Nigeria’s naira can be said to be doing well this year, down just 4 per cent against a strong US dollar, ahead of the Canadian dollar and the Swiss franc, a Bloomberg report has said it remains one of the worst performing worldwide. The report said  that is only a small part of the story because the official exchange rate is used only by… Read More


Federal Government Eyes N834tn to Meet Net Zero Target

The Federal Government has said Nigeria will require $1.9trn or N834trn to attain net zero by 2060 as part of its support to the global fight against climate change and meeting the country’s Energy Transition Plan. A document on the Energy Transition Plan obtained by The PUNCH on Sunday said Nigeria would require $1.9trn to get to net zero by 2060… Read More



APC Absent as Obi, Kwankwaso, Abiola, okowa parley at First Presidential Townhall

Presidential candidate of the All Progressives Congress (APC), Asiwaju Bola Tinubu, and the standard bearer of the Peoples Democratic Party (PDP), Atiku Abubakar, failed to show up at the first in the series of town hall meetings for presidential candidates yesterday. The presidential town hall series is an initiative of Arise Television… Read More


I will Leave Legacies of Credible Elections, Massive Infrastructure – Buhari

President Muhammadu Buhari has restated his determination leave legacies of free and fair elections and significant investments in the infrastructure for posterity. This is even as he said that with Nigeria projected to be the third most populated nation in the world after India and China by 2050, the country deserves a permanent seat in the United Nations… Read More



NCC Inaugurates Committee to Accelerate Broadband Infrastructure Deployment

In a bid to accelerate the expansion of broadband services in the country, the Nigerian Communications Commission (NCC) has inaugurated an industry-wide committee to facilitate the deployment of broadband infrastructure under a project named, National Communications Backbone (NCB). According to a statement by the Commission… Read More