BUSINESSPOST
Nigerian Stocks Attract N73.889bn Transactions In One Week On NGX
The Nigerian Exchange (NGX) Limited recorded a significant rise in trading value last week despite a lower trading volume after it welcomed a new member, Aradel Holdings Plc on Monday, October 14, 2024. In the week, investors bought and sold 1.447 billion Nigerian stocks worth N73.889 billion in 39,546 deals versus the 2.966 billion units… Read More
PUNCH
Private Power Generation Now Costs N750/Kwh — Minister
The Minister of Power, Adebayo Adelabu, has said that private entities will need up to N750 to generate one kilowatt-hour of electricity because of the high cost of petrol. Adelabu said power generation will cost N950 per kilowatt-hour for those using diesel-powered engines. These, he argued, are more expensive than the N209/kWh being paid by… Read More
VANGUARD
Nigeria’s Non-Oil Exports Hit $4.52bn In 2023 — NEPC
Nigeria’s non-oil export sector experienced significant growth in 2023, with the country exporting 6.685 million metric tonnes of non-oil products valued at $4.518 billion. This represents a 28.04 per cent increase from the previous year, underscoring Nigeria’s ongoing efforts to diversify its economy and reduce reliance on oil exports… Read More
PUNCH
System Upgrades Leave Bank Customers Frustrated
In an email, Optimus by Afrinvest warned customers that they might experience temporary transaction delays due to Nigeria Inter-Bank Settlement System and some banks’ downtime. The mail partly read, “We would like to inform you about some temporary delays in processing withdrawals. This is due to an issue with NIBSS… Read More
ECONOMY HEADLINES
Federal Government’s Zero Import Duty Policy Faces Fresh Hurdles Amid Inflation Crisis
Hopes of many low-income Nigerians for lower food prices may be dashed as the zero import duty policy on essential food staples appears to have hit fresh hitches. Stakeholders cite citing lack of coordination, unclear directives, and underlying agronomic and infrastructural challenges as major obstacles. This comes against the… Read More
THENATION
Lagos Eyes $38.58b Coconut Market With Increased Production
With the global coconut products market expected to reach $38.58 billion by 2030 fuelled by popularity in food and cosmetics industries, Lagos State government is encouraging the establishment of more seed farms to boost production for local consumption and for export. According to Research and Markets, global business intelligence firm… Read More
PUNCH
Cooking Gas Price Rises By 114% In 16 Months
The price of Liquefied Petroleum Gas (cooking gas) has skyrocketed from N700/kg in June 2023 around when President Bola Tinubu assumed office to N1,500/kg in October 2024, The PUNCH reports. This represents about a 114 per cent increase within the 16 months. Our correspondent gathered that the increase in LPG is connected to the… Read More
POLITICAL HEADLINES
VANGUARD
NASS Moves To Reintroduce 5% Excise Duty On Telecom, Betting Services
Despite a previous exemption of the telecom sector from the 5 per cent excise duty approved by former President Muhammadu Buhari, National Assembly has revived the push for its implementation. The National Assembly has proposed a 5 per cent excise duty on telecommunications services, gaming, betting and lottery activities… Read More
Nigeria, Benin Republic Boost Trades With New Dry Port
Nigeria and Benin Republic have reached agreements on the commencement of the Tsamiya Dry Port, in a major boost to trades between the two countries. Located in Kebbi State, Tsamiya Dry Port is a strategic project aimed at enhancing trade and logistics between Nigeria and Benin Republic, designed to facilitate efficient… Read More
TECHNOLOGY HEADLINES
SUN
CSCS Seeks Accelerated AI Integration To Address Rising Cybercrime
This appeal came during the conclusion of the 2024 Cybersecurity Conference in collaboration with the Office of the National Security Adviser (ONSA), which gathered experts from the military, technology, finance, and government sectors. In his keynote address, Nigeria’s Vice President, Kashim Shettima emphasized the… Read More