Daily Business Headlines – NOVEMBER 8, 2023


Bulls Extend Control On Nigerian Exchange By 0.19%

The bulls consolidated their dominance on the Nigerian Exchange (NGX) Limited by 0.19 per cent on Tuesday, thanks to sustained buying pressure on some mid to large-cap stocks. During the trading day, the consumer goods index appreciated by 0.31 per cent, the insurance sector improved by 0.15 per cent, and the industrial goods counter… Read More


Over $700m Remains Trapped In Nigeria- Foreign Airlines

Foreign airlines have disclosed that about 90 per cent of their $783m trapped funds have not been unpaid. The airlines stated this during a stakeholders’ forum convened by the Minister of Aviation and Aerospace Development, Festus Keyamo, in Lagos recently. According to data from the International Air Transport Association, as of August 2023… Read More


MAN, RMRDC Want Sustainable Roadmap For Production Sector

As concerns mount over the future of manufacturing and rapid de-industrialisation being experienced in the real sector, the umbrella body for manufacturers, the Manufacturers Association of Nigeria (MAN); the Raw Materials Research and Development Council (RMRDC), in collaboration with the Federal Ministry of Industry, Trade and… Read More


DMBs To Discontinue Use Of Old Standard Cheques By Dec 31

To meet digital advancement and comply with the Central Bank of Nigeria (CBN), Deposit Money Banks (DMBs) have begun issuing notifications to the general public, stating that the use of old standard cheques will cease by December 31,  2023. This is coming after the apex bank had stated that it will monitor the level of compliance by DMBs in… Read More



Federal Government Saves N1.45tn From Subsidy Removal

The federal government has so far saved about N1.45tn from earnings generated from the removal of subsidy on Premium Motor Spirit, popularly called petrol between June and September. This is according to FAAC allocation documents obtained from the website of Nigeria’s Governors Forum and National Bureau of Statistics. An analysis… Read More

NNPCL Unveils New Crude Grade, Ships 1.9m/B In October

The Nigerian National Petroleum Company Limited on Tuesday said it had launched a new crude oil grade ‘Nembe’, and had shipped its first cargo in October consisting of two 950,000 barrels. A report by Reuters quoting the executive director of crude and condensate at NNPC Trading, Maryamu Idris, on the sidelines of the Argus European Crude… Read More


NPA Initiates $1.1bn Port Rehabilitation Plan For Enhanced Trade Competitiveness

The Nigerian Ports Authority (NPA) has said it is embarking on a significant $1.1 billion port rehabilitation plan, in order to ensure a strong commitment to fortify Nigeria’s trade competitiveness. Daily Sun learnt that the rehabilitation exercise will spread across all the nation’s ports, which will include dredging of the nation’s channels to … Read More



Off-Season Elections: Crisis Rocks Peace Meeting, NLC Strike Threatens Imo Poll

A peace meeting organised by the Independent National Electoral Commission ahead of Saturday’s governorship election in Imo State ended in confusion on Tuesday in Owerri, the state capital, after the INEC National Commissioner representing South-East, Kenneth Ukeagu, ordered journalists to shut down their cameras and other gadgets… Read More


36 Governors To Meet Bill And Melinda Gates Foundation Chief On Partnerships For National Growth

The Nigeria Governors’ Forum (NGF) has announced that it will host a meeting with the President of Global Growth and Opportunities at the Bill and Melinda Gates Foundation (BMGF), Rodger Voorhies, on November 15, 2023. The meeting will take place at the NGF Secretariat in Abuja. According to the NGF director-general, Asishana Bayo… Read More



Communications Ministry Secures N1bn Funding For Tech

The Minister of Communications, Innovation and Digital Economy, Dr. Bosun Tijani, on Tuesday, revealed that the ministry has secured N1bn for the implementation of The Three Million Technical Talent programme. He disclosed this during a council meeting with the directors of Information Communication and Technology department in all… Read More