Daily Business Headlines – OCTOBER 3, 2023


Equity Market Loses N516bn On Waning Investors’ Interests

Investors on the Nigerian Exchange Limited lost N516bn in one week of trading as the volume of trade tumbled by 65.76 per cent. With the exchange opened for only four days of trading in the past week due to a public holiday, the total turnover of shares was 1.339 billion shares worth N17.916bn which were traded in 27,874 deals. In the previous… Read More


NLC, TUC Suspend Strike For 30 Days

The Nigeria Labour Congress (NLC) and Trade Union Congress (TUC), on Monday agreed to suspend for 30 days, the planned indefinite nationwide strike scheduled to begin, Tuesday, October 3, 2023. The decision followed the agreements reached between the organised Labour and the federal government on the provision of palliatives… Read More


BUA Cement Slashes Ex-Factory Prices To N3,500

The management of BUA Cement Plc has announced a reduction in the prices of its cement from its factory without the transportation costs to N3,500 per bag (50kg). The cement maker confirmed this development in a statement issued on Sunday, noting that it was part of efforts to make sure customers get the products at cheaper prices. In the… Read More


Mutual Funds Investment Rises 41.6 % To N1.9 Trn In 8 Months

Total value of investment in Mutual Funds rose year-on-year, YoY, by 41.6% to N1.92 trillion in the eight months ended August 2023, from N1.354 trillion in the corresponding period of 2022. The increase is driven by the high interest rate on fixed income instruments and the upward performance of the stock market, as well as increased awareness on… Read more



Manufacturers Hail 7.5% Waiver On AGO, Task Federal Government, Labour On Positive Outcomes

The Manufacturers Association of Nigeria (MAN) has commended the Federal Government’s announcement of 7.5 per cent Value Added Tax (VAT) waiver on Automotive Gas Oil (AGO), commonly called diesel. Mr. Segun Ajayi-Kadir, Director General of MAN, yesterday in Lagos via a statement, described the development as a positive outcome for… Read More


12.5kg Cooking Gas Hits N12,500

Price of 12.5kg of Liquefied Natural Gas or cooking gas has increased to N12,500 as Nigeria celebrates her 63rd Independence anniversary, The PUNCH has gathered. Market survey by our correspondent revealed that gas retailers had jerked up prices of 12.5kg from N10,000 reported towards the end of last month, to around N12,500 in Lagos… Read More


ICRC Restates Commitment To Bridge Infrastructure Deficit

The Infrastructure Concession Regulatory Commission (ICRC) has restated its commitment to providing the needed regulation to support the current administration in its bid to further bridge the nation’s infrastructure deficit. Director general, ICRC, Michael Ohiani, this in his Independence Anniversary Message in Abuja on Sunday. “The… Read More



Chicago Varsity Releases Tinubu’s Records To Atiku

Chicago State University, United States of America has released to former Vice President Atiku Abubakar the academic records of President Bola Tinubu. The CSU released the documents to Atiku on Monday in compliance with the order of a United States District Court in Northern District of Illinois. In ordering the CSU to release Tinubu’s… Read More


CJN Inaugurates 23 Judges Tomorrow, Group Demands Electronic Transmission Of Verdicts

Chief Justice of Nigeria (CJN), Olukayode Ariwoola, will, tomorrow, swear-in 23 newly appointed judges of the Federal High Court. A statement by Director of Press and Information at the Supreme Court, Dr. Festus Akande, said the judges will be inaugurated at the main courtroom of the apex court at 11:00 a.m. The new judges are… Read More



Nigeria To Achieve 50,000 AI Jobs By 2030 – Communications Minister, Tijani

The Minister of Communications, Innovation and Digital Economy, Dr Bosun Tijani, has said the federal government is targeting to create about 50,000 jobs through Artificial Intelligence (AI) by 2030. Tijani made this known on Monday, when he released his Ministry’s draft Strategic Blueprint for the next four years. In the 31-page document, titled… Read More