Daily Business Headlines – SEPTEMBER 21, 2023


NGX Drops 0.03% As Traders Trim Exposure To Nigerian Stocks

The Nigerian Exchange (NGX) Limited witnessed a pullback of 0.03 per cent on Wednesday after investors took a second look at their exposure to local equities, though as some were dumping, a few were mopping up. According to data obtained by Business Post, traders bought and sold 566.6 million shares worth N5.4 billion during the trading… Read More


Maritime Transportation Under Developed – Operators

Stakeholders in the Nigerian maritime sector have said maritime transportation in Nigeria and the West African sub-region is underdeveloped. They stated this in Lagos on Tuesday during the 2023 Lagos International Maritime Week themed ‘MARPOL at 50-Pollution from Ships, Africa’s commitment to clean oceans seas, inland waters and the… Read More

Customs Agents Kick As CBN Unveils Price Verification Portal

Members of the National Council of Managing Directors of Licensed Customs Agents have kicked against the newly introduced price verification system in the country’s ports by the Central Bank of Nigeria. The new system, they said, contravened the Customs and Excise Management (Amendment) Act 20 of 2003/ Nigeria Customs Service Act… Read More


Ever Rising Diesel Price Killing Our Businesses, NOGASA Cries Out

The Natural Oil and Gas Suppliers’ Association of Nigeria (NOGASA), has again raised the alarm over incessant increases in prices of AGO (diesel) in Depots lamenting that the trends are adversely affecting oil and gas businesses, the transportation sector and the nation’s economy in general. Benneth korie, the National President of NOGASA, who… Read More



Customs, NUPRC, Others Remit N5trn Into Federation Account In 6 Months – Federal Government

As Nigeria battles low fund challenges, the Revenue Mobilisation Allocation and Fiscal Commission (RMAFC) on Wednesday disclosed that N5,244,037,636,561.60 has accrued into the federation account for the period January to June this year. Agencies that generated the money include the Nigeria Customs Service, Nigerian Upstream… Read More


‘400 Trade Barriers Recorded In West African Borders’

The Nigerian Shippers Council has said that the Economic Community of West African States Trade Obstacles Alert Mechanism had reported 400 trade barriers along the sub-region’s borders. The Executive Secretary of NSC, Emmanuel Jime, said this during a sensitisation workshop organised by the council, the Economic Community of… Read More


‘Nigerian Businesses Need Better Strategies To Survive In South Africa’

Inability to cope with the sophisticated nature of the South African economy, stringent regulatory frameworks and rigid labour laws are listed as probable reasons many Nigerian companies, which attempted to open in the former apartheid country could not survive, a South African business strategist has observed. Hence, he called on the… Read More



Nigerians Have No Reason To Be Poor- Tinubu

President Bola Tinubu has encouraged Nigerians in the U.S. to rise above failure by having a change of mindset for success in all their endeavours in life. Tinubu who gave the advice at the Presidential Townhall Meeting with Nigerians in the diaspora on Wednesday in New York noted that Nigerians had no reason to be poor. The News Agency of… Read More


Curfew In Kano As Tribunal Sacks Governor, Fears Grip Other States

Uneasy calm has gripped the otherwise boisterous city of Kano State following the judgment of the Governorship Election Tribunal which upturned the victory of Governor Abba Kabir Yusuf of the New Nigeria Peoples Party (NNPP), yesterday. Following rising tension, the state government imposed a 24 hour curfew on the state. Commissioner of… Read More



NCC Changes Landline Numbering Format To 10-Digit

The Nigerian Communications Commission has announced a new numbering format for fixed lines (landlines) in the country. According NCC, this is in keeping with its responsibilities under the enabling law, the Nigerian Communications Act (NCA) 2003, to manage Nigeria’s numbering resources. In the process, Nigeria’s Fixed-Lines… Read More