Daily Business Headlines – SEPTEMBER 25, 2023


Stock Market Drops By 0.11%

In the trading week ended Friday, September 22, Nigeria’s equities market decreased by 0.11 percent. In the trading week under review, 48 equities appreciated in price higher than 32 equities in the preceding week. Forty equities depreciated in price lower than 53 in the preceding week, while 67 equities remained unchanged, lower than 70… Read More


NLC Battles OPS Over Stand On Planned Nationwide Strike

The Nigeria Labour Congress, NLC, has slammed the Organised Private Sector, OPS, over its opposition to a nationwide strike on the grounds that the economy cannot withstand country-wide industrial action now. It said that the OPS was opposing the strike because it wanted to continue paying slave wages to workers. Also, the NLC alleged that… Read More


CPPE Urges New CBN Governor To Prioritise Clearing Forex Backlog

The Centre for the Promotion of Private Enterprise has called on the newly appointed Governor of the Central Bank of Nigeria, Olayemi Cardoso, to prioritise clearing the backlog of forex exchange obligations. This call was made in a press statement titled “Ten Point Agenda For The CBN Governor,” released on Sunday by the non-… Read More


African Refiners To Adopt Single Grade Petrol By 2030

Worried by the different grades of petroleum products across Africa and its health implication, the African Refiners and Distributors Association (ARDA) has committed to having a single grade of Premium Motor Spirit (PMS), popularly called petrol by 2030. Executive Secretary, ARDA, Mr. Anibor Kragha, stated this at the CEO… Read More



External Debt Rises To N13tn Over Naira Depreciation

Nigeria’s weak naira has pushed the country’s external debt up by N13.38tn; findings by The PUNCH have shown. Although the total external debt increased by $490m between the first quarter of 2023 and the second quarter of 2023, the value in naira increased significantly, according to data from the Debt Management Office. The main reason for the… Read More


SERAP Tasks Tinubu To Probe Missing $15bn, N200bn Oil Revenues

President Bola Tinubu has been charged by the Socio-Economic Rights and Accountability Project (SERAP) to investigate the allegations that over $15 billion of oil revenues and N200 billion budgeted to repair the refineries are missing and unaccounted for between 2020 and 2021, as documented by the Nigeria Extractive Industries Transparency… Read More


Tinubu Unveils Talent Export Programme To Boost Youth Employment

President Bola Tinubu has launched the National Talent Export Programme (NATEP) in a bid to shore up Nigeria’s foreign exchange earnings. President Tinubu, represented by the Minister of Industry, Trade and Investment, Doris Uzoka-Anite, launched the programme on the sidelines of the 78th United Nations General Assembly (UNGA) on Friday… Read More



Ohanaeze Seeks Federal Government’s Support To End Insecurity In South East

Apex Igbo socio-cultural organisation, Ohanaeze Ndigbo has said that it plans to use a non-kinetic approach to resolve security challenges in the Southeast region by appealing to people causing bloodshed to embrace peace. The President-General of Ohanaeze Ndigbo Worldwide, Emmanuel Iwuanyanwu, disclosed this during a World Conference… Read More

Lagos Government Condemns TUC, RTEAN Planned Protests

The Lagos State Government has described the planned protest by members of the Trade Union Congress, TUC, over last year’s suspension of the activities of the Road Transport Employers Association of Nigeria, RTEAN, Lagos Chapter, as a breach of Law if carried out. It described the planned protest as an attempt to arm-twist and intimidate the… Read More



Forum Canvasses Free, Safe Internet Connection Across Africa

The African Internet Governance Forum (AFIGF) conference has ended in Abuja with a call to African leaders to ensure that the, “continent is connected with a free internet that is inclusive, safe and secure for all.” Meanwhile, the Executive Vice Chairman of the Nigerian Communications (NCC), Prof. Umar Danbatta, has advocated for institutional… Read More