Daily Business Headlines – SEPTEMBER 4, 2023


NGX Behind Ghana, Ranks Second Best-Performing In Africa

Despite prolonged inflation, interest rate hike, insecurity, and other macroeconomic challenges, the Nigerian Exchange Limited (NGX) emerged as the second best-performing exchange in Africa in the last three months. A breakdown of the performance showed that the market capitalisation, which stood at N20.034 trillion at the beginning of… Read More


Forex: Domestic Operators Lament Over 40 Aircraft Grounded Abroad

No fewer than 40 aircraft belonging to domestic airlines are currently grounded in maintenance facilities abroad and in Nigeria due to lack of access to foreign exchange from the Central Bank of Nigeria to pay the necessary bills, according to finding by The PUNCH. While over 30 airplanes are stranded overseas, a little above 10 aircraft are… Read More


Subsidy Removal: Labour Presses Ahead With Mobilisation For Strike

The Nigeria Labour Congress, NLC, has said that it is going ahead with its two-day warning strike beginning tomorrow, saying it was not aware of any meeting with the Federal Government today. A top official of the NLC, told Vanguard yesterday, that as of press time, there was no invitation from the Government for any meeting, adding that… Read More


Consumers, Companies’ Taxes Jump 96% To N2.3tn –Report

Government revenue got a boost as taxes from companies and consumers rose by 96.11 per cent to N2.31tn in the second quarter of 2023, signifying a huge jump between the first quarter and second quarter of the year. n Q1, 2023, the total tax paid by companies and consumers was N1.18tn, according to the National Bureau of Statistics. The… Read More



AFREXIM Bank Signs MoU With UAE To Promote Intra African Trade

The African Export-Import Bank (Afreximbank) signed an MOU with the United Arab Emirates (UAE) Trade Center, to promote the TRADAR Club solution in the market. The Cooperation Agreement, signed between AFREXIM bank and the UAE Trade Center on the sidelines of the Intra-African Trade Fair (IATF2023) Press Conference… Read More

Efforts To Revive Coal City Economy Begins With Investment Summit

Enugu was a strategic city in the post-colonial economy of Nigeria. But with the deprivation of the last few decades, the city lost its vigour. With the Enugu State Investment Roundtable held at the weekend, efforts to reinvent the economy of the famous coal city have started in earnest. GEOFF IYATSE writes that the state government needs more than… Read More


Minister Pledges To Deepen Public Private Partnership To Promote Growth

The Federal Government has pledged to deepen public private partnership to enhance the nation’s economic and social growth. Minister of Power, Mr. Adebayo Adelabu, stated this at a media briefing held in Abuja recently to announce the lineup of activities for the forthcoming 2023 edition of Informal Market’s Nigeria Energy Exhibition and… Read More



Election Petitions: Tribunals Decide Tinubu, 25 Govs Cases September

There is anxiety as President Bola Tinubu and 25 state governors await the verdicts of the tribunals handling the presidential, governorship, National Assembly, and state assembly election petitions. The panels are expected to deliver their judgments this month. Out of the 28 states where the governorship elections were held, the results of the… Read More


NNPP Crisis: New Leadership Demands Account Of Over N1bn From Sale Of Forms

ABUJA—There seems to be no end to the crisis rocking the New Nigeria Peoples Party, NNPP, as the new leadership under Dr Agbo Gilbert Major has asked former leaders of the party to urgently account for over N1biliion raised from the sale of nomination and expression of interest forms, ahead of the 2023 Presidential and general… Read More



Three Nigerian Tech Innovators Bag Innovate UK KTN £6,000 Prize

Creativity and innovation have earned three young and passionate Nigerian tech innovators in Ekiti state £6,000 in cash prize and much more in a global network courtesy of Innovate UK Knowledge Transfer Network (KTN). The organization recently partnered with the Ekiti State Government to reward young “tech” innovators within the state through… Read More