Daily Business Headlines – OCTOBER 4, 2023


Appetite For BUA Cement Stocks Lifts Nigerian Exchange By 0.59%

The first trading session in the last quarter of the year ended on a positive note with a 0.59 per cent growth buoyed by the strong appetite for BUA Cement stocks. Over the weekend, the management of the cement maker announced a reduction in the ex-factory price of its product to N3,500 per 50kg, attracting commendations from its consumers… Read More


Business Activity Expands For First Time Since May

Business activity in Nigeria improved marginally in September for the first time in five months, but confidence remains unchanged, according to a new Purchasing Managers’ Index (PMI) released on Tuesday. The latest monthly Stanbic IBTC Bank’s PMI data, compiled by S&P Global Market Intelligence, showed the headline index… Read More


MAN Urges Governor Abiodun On Bad Roads Around Industrial Areas

The National President of Manufacturers Association of Nigeria, Otunba Francis Meshioye, has urged Ogun State Governor, Dapo Abiodun, to urgently improve the poor roads in the state, especially around industrial estates at Agbara, Atan and Ota all in Ado-Odo/Ota Local Government Area of the state. Meshioye said the improvement of road… Read More

Agents Threaten To Picket Terminal Operators Over Charge Increase

Licensed customs agents operating at the nation’s maritime domain have said they may be forced to picket one of the roll-on-roll-off terminals at Tincan Island Ports, Five Start Logistics Terminal, over the about 400 per cent increase in storage charges. The terminal operator in a circular sighted by the PUNCH on Monday, announced the new charges,… Read More



BII, Access Bank Seal $60m Deal To Boost Trade In Nigeria

British International Investment (BII), the United Kingdom’s development finance institution (DFI) and impact investor has announced a $60 million trade finance facility for Access Bank Plc in Nigeria and five of its pan-African subsidiaries to boost import and export amongst local businesses and attract capital into the country. The loan programme… Read More


N100bn CNG Buses: Senate Rejects CBN Loans, Warns Tinubu Against Illegal Spending

The Senate, on Tuesday, warned President Bola Tinubu against illegal spending and advised him to seek a supplementary budget for its Compressed Natural Gas initiative. The Senate through its Committee on Gas, led by Senator Jarigbe Jarigbe, urged the executive arm of government to expeditiously present a 2023 Supplementary Budget to… Read More


NCS Surpasses Monthly Target By 120% At Tincan Island Command

The Nigeria Customs Service (NCS), Tincan Island Command, said that it has surpassed the Monthly revenue target set for it by the Service by 120 percent. Ngozi N. Okwara, Customs Public Re­lations Officer of the Command, made the disclosure in a statement made available to Daily Independent. Okwara, a Superintendent of Customs (SC),… Read More



New Senate Rule Restricts President, Deputy Seat To Ranking Members

In what appears to be a preemptive move against destabilization, the Senate leadership on Tuesday pushed through an amendment to its standing rules. Under the amended rule, only ranking members can stand for elections and be voted into the office of President and Deputy President of the Senate. This is coming just two weeks after the 10thRead More


Tinubu Nominates Balarabe To Replace El-Rufai, Two Others

President Bola Tinubu yesterday, named Balarabe Abbas Lawal from Kaduna State as minister-nominee to replace former governor Nasir El-Rufai, who was earlier rejected by the Senate in August. The one-time minister of the Federal Capital Territory (FCT) was one of the 48 persons nominated by President Tinubu as ministers when his name… Read More



Presidency Declares NIMASA Best Federal MDA In Digital Transformation

The Presidency through the Bureau of Public Service Reforms, BPSR, has declared the Nigerian Maritime Administration and Safety Agency NIMASA as the best Federal Government Agency in Digital Transformation. The Director General, BPSR who conveyed the Presidential award to NIMASA Management, also announced that the… Read More