Daily Business Headlines – OCTOBER 25, 2023


NGX All-Share Index Gains 0.5% As Equities Market Rebounds

After days of bearish runs, the equities market returned to positive territory as the All-Share Index gained 0.5% to hit 67,217.77 points. Equities gained N187 billion as the exchange’s market capitalization appreciated to N36.9329 trillion from N36.742 trillion recorded the previous day. Analysis of the day’s market activities showed trade turnover… Read More


NAICOM Sets 10 -Year 7-Point Strategic Vision To Transform Sector

In line with its transformation journey to position insurance business in Nigeria to stand competitively in the troubled global financial market, the Commissioner for Insurance, Mr Olorundare Sunday Thomas, has unveiled a 7 – point vision/ agenda for the next decade (2024 to 2033), even as it plans to launch Guidance Note for Insurances of… Read More


Labour Warns Federal Government Over Delayed MOU, Threatens Strike

The organised Labour has expressed dissatisfaction with the slow pace of implementation of the Memorandum of Understanding it signed with the Federal Government to avert its planned nationwide strike. The state chapters of the Nigeria Labour Congress and the Trade Union Congress said failure to implement the agreement before the October… Read More

Operator Blames Poor Infrastructure For Flights Delay

The Chairman of United Nigeria, Prof. Obiora Okonkwo, has said the major causes of flight delays and cancellations are factors outside the control of airline operators. According to him, only two per cent of flight delays and cancellations may be attributed to operators, while the other 98 per cent are environmentally induced. While speaking during the… Read More



Federal Government, States, Local Government Areas Share N903bn In September

The three tiers of government in September shared a total N903,480 billion, according to records from the Federation Account Allocation Committee (FAAC). A communique issued by FAAC at its October meeting chaired by the Finance Minister, Mr Wale Edun, indicated that the N903.480 billion total distributable revenue comprised statutory… Read More

Federal Government Seeks $10bn To Fund SDGs

The Federal Government is now going cap-in-hand in search of over $10 billion annually  to finance the Sustainable Development Goals (SDGs) budget for the year. This was even as the budget of  both federal and sub national governments put together can’t match half of the  fund needed to implement SDGs in Nigeria. The Senior Special Adviser… Read More


NNPCL Records 149 Oil Theft Cases In One Week

The Nigerian National Petroleum Company Limited said it recorded 149 incidences of crude oil theft across the Niger Delta in one week. In a statement on Tuesday, the Company said in one of the incidents, an oil bunkering site was uncovered in Osuobodo between two ANTAN flow stations south of Oguta naval base in Imo state. It stated, “Far… Read More



Impeachment: Ondo Deputy Governor Counters Assembly

Ondo State Deputy Governor, Lucky Aiyedatiwa, has countered a recent letter written by the House of Assembly to the Chief Judge (CJ), Olusola Odusola, where the former asked the CJ to constitute a panel to investigate allegations of gross misconduct levelled against Aiyedatiwa. In a seven-page letter written by his lead counsel, Ebun-Olu… Read More


Multiple Taxation: Tinubu Panel Asks Government To Drop 190 Taxes, OPS Blames States

In a move to eliminate multiple taxation, the Presidential Committee on Fiscal Policy and Tax Reforms has proposed the stoppage of 190 taxes choking businesses in the country. The panel presented its ‘Quick Win Report’ to President Bola Tinubu, who endorsed its far-reaching recommendations on tax and fiscal policies during a brief ceremony… Read More



Poor Awareness, ­Manpower Threaten Data Privacy In Nigeria, Says Olatunji

The National Commissioner for the Nigeria Data Protection Commission, Dr Vincent Olatunji, speaks with ADEYEMI ADEPETUN about the issues of data management, sanctions on erring organizations and contributions to the economy, amidst other germane issues. The Nigeria Data Protection Commission is new; many people might not know… Read More