Daily Business Headlines – SEPTEMBER 22, 2023


Trade Volume Hits N1.12bn On NGX

The daily volume of trade on the Nigerian Exchange Limited increased by 98 per cent to 1.12 billion units on Thursday as investors lost N35bn at the close of the trading session. The volume of traded equities reported on Wednesday stood at 566,631,350 units worth N5.39bn. Despite the surge in the volume of trade, the value of trade on… Read More

Government Caused N285bn Decline In Raw Material Exports – MAN

The decline in Nigeria’s raw material exports by N285 billion on a year-on-year basis can be attributed to the government’s neglect of the productive sector, the Manufacturers Association of Nigeria has declared. An analysis of Foreign Trade Statistics published by the National Bureau of Statistics showed raw materials exports fell to N345.5bn in… Read More


Fresh Strike Looms As NLC’s Ultimatum Expires Today

AS the ultimatum by the Nigeria Labour Congress, NLC, to the Federal Government to address the mass suffering and pains occasioned by the removal of subsidy on petrol expires today, the leadership of the Congress will meet next week to decide when to begin an indefinite nationwide strike. But Vanguard gathered that the Vice President… Read More


CPPE Boss Calls For Better Business Environment

Amid the biting economic challenges, the Chief Executive Officer of the Centre for the Promotion of Private Enterprise (CPPE), Dr Muda Yusuf, said the micro small and medium enterprise (MSMEs) sector holds the key to Nigeria’s economic prosperity if there is the right operating environment. Yusuf also said that MSMEs can generate over 20… Read More



Nigeria’s Trade With Africa Up 40.8% To N1.84trn

Nigeria’s trade with the rest of Africa increased by 40.8 percent Year-on-Year (YoY) in the first half of 2023 (H1’23) to N1.839 trillion from N1.306 trillion recorded in the corresponding period of 2022 (H1’22). This represents a reversal in the declining trend of the nation’s intra-African trade over the same period since 2020, in terms of value. Available… Read More


World Bank/IMF Meetings: Rising Debts, Inclusion To Top Africa’s Agenda

Following the national crisis caused by the recent earthquake in Morocco, authorities in the Kingdom of Morocco have said the Annual Meetings of the World Bank Group and International Monetary Fund would go on as scheduled. Morocco, which would be hosting the Annual Meetings 50 years after it first took place in Africa, had maintained very high momentum in its preparation until the earthquake struck. Still, the country… Read More

Lagos Trade Fair To Focus On Intra-African Trade – LCCI

This year’s edition of the Lagos International Trade Fair will lay specific emphasis on bringing African businesses together towards boosting intra-African trade under the African Continental Free Trade Agreement, the organisers of the event have said. The disclosure was made by the Chairman of Trade Promotion Board at Lagos Chamber of… Read More



Wike Revokes Imoke, Udo Udoma, Ex-Senate Whip, 162 Others’ Lands

The Minister, Federal Capital Territory, Nyesom Wike, has revoked 165 lands in Abuja, some of which belonged to notable Nigerians. A document signed by the FCT Permanent Secretary, Olushade Adeshola, which was obtained by The PUNCH, reveals that the revocation was due to the violation and contravention of the terms of development of the Right of Occupancy. The document reads, “The Federal Capital Territory… Read More


Nigeria Now Open To Investments, Tinubu Tells Foreign Investors

President Bola Tinubu has declared that the stumbling blocks to investments have now been removed and the country is very much open to investment. He made this known during the closing bell of the NASDAQ stock market in New York which was monitored by Daily Sun. The U.S Chamber’s bell ringing ceremony with President Tinubu took place… Read More



Non-Passage Of CNI Bill 15 years After, Threatens $77b Telecom Industry

Nigeria’s $77 billion telecommunications sector, which currently houses 34,862 towers, 127,294 Base Transceiver Stations (BTS) and 96,198km fibre optics, is endangered as a result of the absence of laws backing infrastructure safety and deployment. Specifically, the non-passage of the Critical National Infrastructure (CNI) bill, about 15 years… Read More