Daily Business Headlines – NOVEMBER 7, 2023


Customs Street Gains 0.40% Despite Weak Investor Sentiment

The opening session of the week at the Nigerian Exchange (NGX) Limited ended on a positive note as Customs Street appreciated by 0.40 per cent at the close of transactions on Monday. The bourse witnessed growth despite weak investor sentiment caused by profit-taking in the insurance and consumer goods sectors, which closed lower by… Read More


Tinubu Tasks African Leaders On Seamless Cargo Evacuation, Ports Operation

President Bola Tinubu has called on African leaders to collectively seek sustainable solutions for adequate security, transparency, seamlessness and efficient cargo evacuation to and from the ports as well as other challenges that port operations face on the continent. He said addressing these challenges is an area in which ports operation in… Read More


Man To Deploy Technology To Unlock Cross Border Value Chain

he Manufacturers Association of Nigeria, MAN, has expressed readiness to leverage technology to improve efficiency and unlock the cross-border value chain. The Association’s president Otunba Francis Meshioye made this known during a press briefing held yesterday to herald the 8th Edition of the Nigeria Manufacturing and Equipment Expo… Read More


Alake: Government To Deploy Tech To Sanitise Solid Minerals Sector

Minister of Solid Minerals Development, Dr. Dele Alake has said the Ministry would need technology to sanitise the Solid Minerals sector. He spoke yesterday in Abuja when the Minister of Science, Technology and Innovation Chief Uche Nnaji paid a courtesy call to his office. Alake said the significance of technology in sanitising and repositioning… Read More



Nigeria Lost N4.3tn To Oil Theft In Five Years – Federal Government

The Federal Government, on Monday, revealed that more than N4.3tn worth of crude oil was stolen in 7,143 pipeline vandalism cases within a period of five years. It disclosed this at the Nigeria International Pipeline Technology and Security Conference in Abuja, with the theme, ‘Bolstering Regulations, Technology and Security for Growth.’ The conference… Read More

Creative Sector Can Boost Nigeria’s GDP By $100bn – US

Nigeria’s creative industry has the potential to become the country’s largest export sector and create an estimated $100bn to Nigeria’s GDP by 2030. This was disclosed on Monday in Lagos by the Assistant Secretary for the Bureau of Economic and Business Affairs at the U.S. Department of State, Ramin Toloui. Addressing creatives in Lagos… Read More


Nigeria Needs $7.6b To Hit 2.1mbpd Oil Production By 2025

Nigeria would need about $7.6 billion to restore oil production to 2.1m/bpd by 2025 from the current 1.3m/bpd as of September. This was disclosed by the Chairman AA Holdings, Dr. Austin Avuru, who said this would help in drilling about 426 wells with about 45 rigs on duty to rejuvenate oil production in the country, which can help achieve an output… Read More



EFCC Fails To Produce Emefiele In Court

The Economic and Financial Crimes Commission (EFCC), yesterday, failed to produce former Governor of the Central Bank of Nigeria (CBN), Godwin Emefiele, before the High Court at the Federal Capital Territory (FCT). This was in breach of the release order made by the court on November 2. Irked by the development, Justice Olukayode… Read More


Military, Police Vow Tough Actions For Ballot Box Snatchers, Others

The military and the Inspector-General of Police, Kayode Egbetokun, have declared a battle against hoodlums who may be planning to snatch ballot boxes during Saturday’s governorship elections in Kogi, Bayelsa, and Imo states. The security chiefs threatened to deal with troublemakers just as the police authorities said they had deployed… Read More



Federal Government Receives One Million Applications For 3MTT Programme

The Minister of Communications, Innovation and Digital Economy, Dr. Bosun Tijani, has said that the Federal Government’s planned Three Million Technical Talent (3MTT) programme has crossed the one million mark in terms of applications received thus far. Tijani, who said the Federal Government would firm up plans as regards it, disclosed that the… Read More