Daily Business Headlines – OCTOBER 27, 2023


NGX Continues Bearish Run As All-Share Index Declines By 0.18%

The NGX continued its bearish run during Thursday’s trading session as the All-Share Index fell by 0.18% to close at 67,084.95 points. Equities also lost N66 billion as the market capitalization declined to N36.857 trillion, from N36.923 trillion yesterday. The market witnessed 5,205 deals, a decline from the 5,998 deals made yesterday. There… Read More


How Insider Threats, Shortage Of Manpower, Misinformation, Increase Aviation Insecurity –FAAN

Insider threats presenting potential internal risks to airlines and airport authorities, civil unrest and wars impacting aircrew in airspace with conflicts zones, misinformation about flight schedules and other factors have been identified as some of the causes of insecurity at the nation’s airports. During the safety week organised by the Federal Airport… Read More

Rising Inflation Rate Threat To Manufacturing –MAN

The Manufacturers Association of Nigeria (MAN) has described the alarming surge in inflationary trends in the country as a threat to the envisaged manufacturing and industrial sectors’s growth. The association  also complained that the unstable naira- dollar exchange rate has made it difficult for medium to -long term planning, no matter how… Read More


$10bn Spent Annually On Agricultural Import

The Deputy Managing Director of the African Reinsurance Corporation, Ken Aghoghovbia, has said that the International Trade Administration estimates show that Nigeria relies on about $10bn of imports to meet its food and agricultural production shortfalls. Aghoghovbia was speaking at the Africa Reinsurance Corporation Agriculture Workshop… Read More



Federal Government To Introduce Reforms To Boost Mining Sector Growth, Investment

The federal government has said imminent reforms in the mining industry will separate genuine businessmen interested in long-term and value-added investment from adventurers carting away raw minerals. Addressing the Mining ministers forum at the China Mining Week 2023 held in Tianji, China, on Thursday, Oladele Alake, minister of Solid… Read More


Africa Contributes Only 3% To Global Trade — Afrexim Bank

The Head of the Mansa Digital Initiative at the African Export and Import Bank, Maureen Mba, has said that Africa contributes only 3 per cent to the totality of global trade. Mba stated this on Wednesday while unveiling the Mansa initiative at a webinar held to discuss the challenges faced by Small and Medium Enterprises in Nigeria… Read More

Federal Government, ECOWAS To Float Energy Bank

The Federal Government in collaboration with other members of Economic Community of West African States are planning to set up the Africa Energy Bank to cater to crude oil exploration activities in the region. Outgoing President, the Nigerian Association of Petroleum Explorationists, Elliot Ibie, revealed this to The PUNCH on the… Read More



Abbas Urges Atiku, Obi To Support Tinubu For Nigeria’s Progress

Speaker of the House of Representatives, Tajjudeen Abbas has urged Atiku Abubakar, the Peoples Democratic Party (PDP), presidential candidate, and Peter Obi, the Labour Party presidential candidate, to join forces with President Bola Tinubu in an effort to propel the nation towards progress. Speaking to State House correspondents at the… Read More


Akeredolu Rebuffs Aiyedatiwa’s Apology, Insists On Assembly Probe

The Ondo State Governor, Mr Rotimi Akeredolu, has rejected the apology tendered by his deputy, Mr Lucky Aiyedatiwa, over the embarrassment that the ongoing political crisis must have caused in the state. The governor, who reacted to Aiyedatiwa’s apology through his Senior Special Assistant on Special Duties and Strategy, Dr Doyin Odebowale… Read More



Federal Government Unveils Strategy To Employ Three Million In Digital Tech Industry

Federal Government announced, yesterday, that it will provide three million jobs in the digital technology sector. National Information Technology Agency (NITDA), which unveiled the plan at a workshop in Abuja, said the jobs would be provided within four years. Director General, Kashifu Abdullahi Inuwa, made this known at the Public Sector… Read More