Daily Business Headlines – SEPTEMBER 7, 2023


Presidential Tribunal Judgement Fever Weakens Stock Market By 0.07%

The Nigerian Exchange (NGX) Limited weakened by 0.07 per cent on Wednesday as happenings at the presidential election petition tribunal (PEPT) distracted investors. Most traders stayed glued to their television sets to catch a glimpse of the judgement of the appeal court on the presidential election outcome disputes filed by Mr Atiku… Read More


NAICOM, NCDMB, Others Partner To Boost Local Content Insurance

In their desire to give insurance business prominence and make it a household brand in Nigeria, the National Insurance Commission (NAICOM), the Nigerian Content Development Monitoring Board (NCDMB), Centre for Promotion of Private Enterprises (CPPE), operators in the oil and gas industry and insurance stakeholders have agreed to… Read More


Consumers Protest As Federal Government Hikes Electricity Meters Price By 40%

The Federal Government, on Wednesday, announced an increase in the prices of single-phase and three-phase pre-paid electricity meters, and declared that the hike takes effect from September 6, 2023. It announced this in an order released by the Nigerian Electricity Regulatory Commission with number, NERC/2023/020, and jointly signed… Read More


PENCOM To Penalise Employers Over Unremitted Pensions’ Funds

The National Pension Commission (PenCom) has given December 31, 2023 as a deadline for all employers to comply with law regarding the remittance of employees’ pension contributions to the retirement savings accounts (RSAs) to avoid sanctions. The commission also said employers that failed to remit their employees’ pension… Read More



Debt Servicing Gulps $1.8 Bn In 7 Months –CBN

As the Federal Government, particularly in the last dispensation, piled debts, the nation’s debt servicing has jumped by 22.3 per cent to $1.8 billion in seven months of this year, 2023, the latest international payments data of the Central Bank of Nigeria (CBN) has shown. According to the report, this represents 22.3 per cent  leap from $1.48… Read More

African Airlines’ Traffic Increase By 25.6% In July –IATA

The International Air Transport Association (IATA) has said that African airlines saw a 25.6 per cent traffic increase in July 2023 versus a year ago, the second highest percentage gain among the regions. July capacity was up 27.4 per cent and load factor fell 1.0 per centage point to 73.9 per cent, the lowest among the regions. For a second month in… Read More


Over 100 China-Based Companies To Attend Nigeria Expo

Over China-based companies have booked to attend the upcoming 2023 edition of the China Commodities Expo holding in Lagos in November this year. This was revealed by Vice President/General Manager, Brightway International Exhibition Company Limited, Shandong, China, Lara Lou, during a courtesy visit to PUNCH Nigeria… Read More



$14b Pledges: Tinubu Says Nigeria Best On ROI, Lauds Indian Investors

President Bola Tinubu, yesterday, lauded Indian investors for pledges of nearly $14 billion during the Nigeria-India Presidential Roundtable and Conference in New Delhi, India. Tinubu told the investors: “We are ready to give you the best returns for investment possible. There’s nowhere else like our country. Nigeria offers the best returns for… Read More


Atiku, Obi Plan Appeal As Election Tribunal Dashes Bid To Sack Tinubu

The presidential candidate of the Peoples Democratic Party, Atiku Abubakar, and his Labour Party counterpart, Peter Obi, have rejected Wednesday’s judgment of the Presidential Election Petition Tribunal affirming the election of President Bola Tinubu. The Legal Adviser to the Labour Party, Kehinde Edun, vowed to challenge the judgment at the… Read More



NDPC Inaugurates Committee To Drive Implementation Of Data Protection Act

The National Commissioner of  the Nigeria Data Protection Commission (NDPC), Dr. Vincent Olatunji, on Monday, inaugurated the national committee for NDP Act General Application and Implementation Directive (GAID). The NDPC spokesperson, Itunu Dosekun, in a statement on Wednesday, explained that NDP Act GAID is one in… Read More