Daily Business Headlines – SEPTEMBER 19, 2023


NGX All-Share Index Rises 0.71% On Positive Market Activity

The first trading session of the week at the local bourse ended on a strong note on Monday by 0.71 per cent on the back of positive market activity. The news of the appointment of Mr Yemi Cardoso as the new Governor of the Central Bank of Nigeria (CBN) by President Bola Tinubu excited investors, who returned to the market for more stocks. Traders… Read More


SME Financing Gap Close To N3 Trillion, Says DBN

Development Bank of Nigeria (DBN) has disclosed that the financing needs of Nigerian small and medium enterprises (SMEs) is close to N3 trillion. According to the bank, the funding need of businesses in the space is so huge that no single development financing institution can fill the gap. Head of Corporate Services, DBN, Idris Salihu, said there is… Read More


Fuel Subsidy: Federal Government-NLC Meeting Ends In Deadlock

The Monday meeting between the federal government and the Nigeria Labour Congress (NLC) concluded without reaching an agreement. Simon Lalong, Minister of Labour and Employment, convened the meeting but failed to address the concerns raised by the Congress as the basis for the proposed strike. Following the meeting, Lalong… Read More


Federal Government Opens Old MMA Terminal To Ease Flight Disruptions

The Federal Government has officially reopened the D Wing of the old international terminal at the Murtala Muhammed International Airport, Lagos. The government aimed to alleviate flight disruptions and improve the overall efficiency of air travel. The move was part of a broader effort to address the growing challenges faced by travellers and… Read More



Wally Adeyemo Advises Nigeria To Fix Foreign Exchange Issues To Attract FDIS

The United States Deputy Treasury Secretary, Mr. Wally Adeyemo, has said that stabilising Nigeria’s weakening Naira is among the top reform priorities that the US considers necessary to develop economic growth in Nigeria. He made this disclosure while speaking at an event tagged the US-Nigeria Economic Relations: People, Entrepreneur… Read More


Nigeria In Revenue Crisis With Huge Public Debt — Adedeji, New FIRS Boss

Development The new chairman of the Federal Inland Revenue Service, FIRS, Dr Zacch Adedeji, said yesterday the nation is in a revenue crisis and requires urgent steps to change the narrative. Adedeji, who stated this while taking over the mantle of leadership of the agency from his predecessor, Muhammad Nami, noted that about 96 per cent… Read More


LCCI Urges CBN To Halt Interest Rate Hike

The Lagos Chamber of Commerce and Industry (LCCI), has called on the Central Bank of Nigeria (CBN) to pause its interest rate hike to relieve Nigerians the pressure on the supply side following increased inflation rate. In the recent Consumer Price Index (CPI) data released by the National Bureau of Statistics (NBS), inflation rate (year-on-… Read More



UNGA: Tinubu Addresses World Leaders Today On Illicit Financial Flows, Assets Return

President Bola Tinubu will today address world leaders in his debut at the 78th United Nations General Assembly (UNGA), held under the Presidency of Dennis Francis of the Republic of Trinidad and Tobago, at the UN headquarters in New York, United States. As Heads of States take turns to deliver their addresses during the general… Read More


Muri-Okunola Resigns As Lagos Head Of Service

Lagos State Head of Service, Hakeem Muri-Okunola, has resigned from the office. He will now be focusing on his new appointment as President Bola Tinubu’s Principal Secretary. Muri-Okunola sent a letter to the state civil servants on Monday, saying that his civil service career will end on September 29, 2023. He has already informed the state… Read More



Nigeria’s 5G Subscription Hits 500,000 As Broadband Commission Urges Action

A year into its launch in Nigeria, the Fifth-Generation (5G) network has hit the 500,000 mark. This was stated by the Executive Vice Chairman, the Nigerian Communications Commission (NCC), Prof. Umar Danbatta at a media forum. Recall that Nigeria joined other countries that launched 5G in August 2022, when licensees that participated in the… Read More