Daily Business Headlines – NOVEMBER 9, 2023


NGX ASI Slowly Nears 71,000 Mark As Market Appreciates By 0.23%

The NGX All-Share Index further appreciated today, closing at 70,773.31 points, as the market inches closer to the 71,000 mark. Investors gained N87 billion today as the market capitalization increased to N38.885 trillion. Market gain is attributable to price increases on big stocks such as BUACEMENT (+1.90%), UBA (+1.47%) FBNH (+0.52%)… Read More


Lagos Trade Fair: 3,500 Exhibitors Showcase Products

The Lagos Chamber of Commerce and Industry (LCCI) has disclosed that about 3,500 exhibitors are on ground to showcase their products and services at the 37th edition of the Lagos International Trade fair which began in Lagos last Friday. Chairman, Trade Promotion Board of the Chamber, Leye Kupoluyi, who made the disclosure, noted that… Read More

Customs, Stakeholders To Implement 48-Hour Cargo Clearance To Facilitate Trade

The Nigeria Customs Service (NCS) and maritime stakeholders have brainstormed on how to implement a 48-hour cargo clearance process to facilitate trade in the nation’s Ports. This was the thrust of  discussion when the Comptroller-General of Customs, Adewale Adeniyi, convened a meeting with stakeholders to address the urgent need for the… Read More


Tinubu Stops Electricity Tariff Hike, Insists On Subsidy

President Bola Tinubu recently stopped the implementation of a hike in electricity tariff and insisted that subsidy be paid on power consumed nationwide, the Minister of Power, Adebayo Adelabu, revealed on Wednesday. Adelabu also stated that the Federal Government would investigate the legality of the five-year licence extension… Read More



Old Banknote Remains Legal Tender, Says CBN

Every banknote remains legal tender and should not be rejected by anyone, the Central Bank of Nigeria has disclosed. This is as the apex bank directed all its branches across the country to continue to issue different denominations of the old and redesigned banknotes in adequate quantities to deposit money banks. The apex bank stressed that… Read More

China-Nigeria Trade Volume Hits $17bn – Consul-General

The bilateral trade volume between China and Nigeria in the first three quarters of 2023 stood at $17.25bn, the Consul General of China in Lagos, Yan Yuging has said. Yuging disclosed this at the China Commodities Expo-Nigeria Lagos, recently. The Consul noted in his address at the forum that Nigeria is also China’s biggest contractor… Read More


Nigeria Signs $116m Financing Agreement With French Government

Nigeria has signed a $116 million financing agreement with the French Government to support the investment in Digital and Creative Enterprises (I-DICE) programme, an initiative led by the office of Vice President, Senator Kashim Shettima. The Minister of Communications, Innovation and Digital Economy, Dr. Bosun Tijani, who… Read More



Off-Season Polls: Electronic Collation Illegal, Says INEC, Police Warn NLC

The Independent National Electoral Commission has insisted that electronic collation of results is illegal in Nigeria. The commission said this against the backdrop of expectations that the results of Saturday’s off-cycle governorship elections in Imo, Kogi, and Bayelsa states would be transmitted electronically. The Chief Press Secretary to the… Read More


House of Representatives Begin Review Of 2024-2026 MTEF, Fiscal Strategy

The House of Representatives has commenced its legislative examination of the 2024-2026 Medium Term Expenditure Framework (MTEF) and Fiscal Strategy Paper (FSP), submitted by President Tinubu for approval. James Faleke, chairman, House Committee on Finance, during an interactive session with ministers and permanent secretaries from… Read More



Kashifu Inuwa: Tinubu’s Stamp For Unrivalled Feats At NITDA

On Thursday, October 12, 2023, news broke that Kashifu Inuwa Abdullahi had been reappointed by President Bola Ahmed Tinubu as the Director General of the National Information Technology Development Agency (NITDA). Inuwa, first appointed in August 2019, retains his position in what can be regarded as an affirmation of the… Read More