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Nigeria in 1min: Economic, Business and Financial Headlines - 090123

Jan 09, 2023   •   by   •   Source: Proshare   •   eye-icon 440 views


Resolving The Power Sector Conundrum - One of the greatest impediments to the country realizing its full economic and social potential is the current comatose state of the power sector. There is currently a huge gap between demand and supply of electricity, made worse by the fact that less than a third of the installed grid generation capacity is wheeled to consumers, necessitating a reliance on captive sources and millions of micro plants scattered all over the country. Source Star Capital Partners. Read more 

Why Obasanjo, Yar’Adua, Jonathan, Buhari Could Not Fix Power Sector Crisis – Ex-TCN MD - A former Managing Director (MD) of the Transmission Company of Nigeria (TCN) and former staff of the African Development Bank (AfDB), Dr Usman Gur Mohammad, in an interview on Trust TV’s 30 Minutes x-rays the issues in the power sector and how a better understanding by the presidential candidates will help drive solutions. Source Daily Trust Read More

Stakeholders Urge IPMAN, PTD, NUPENG to Prepare for Subsidy Removal - A citizens-led anti-sabotage group, The Natives, has cautioned Depots and Petroleum Products Marketers Association of Nigeria (DAPPMAN) and other stakeholders in the oil sector to stop threatening the Nigerian National Petroleum Company (NNPC) Limited. Source Sun Read More


What to Expect from the Markets this Week - 090123 - Following the passage of the 2023 budget and the 2022 Finance Bill, Analysts have raised concerns about the capacity of the 2023 budget to alter the trajectory of the Nigerian economy. Source Proshare Research Read More



New Investment Report Affirms Chevron, ExxonMobil’s Nigeria Exit Plan - New investment plans announced by top oil majors, Chevron and ExxonMobil who are operating huge oil assets in Nigeria have affirmed reports indicating their exit plans from the country. Source Leadership Read More

January 31 Deadline Remains, CBN Insists Old Notes Will Cease to Be Legal Tender In February 2023 - Amid concerns about the scarcity of new naira notes, the Central Bank of Nigeria (CBN) has insisted that January 31, 2023, remains the deadline for old notes to remain in circulation. Source Guardian Read More



Twitter further cuts staff overseeing global content moderation, Bloomberg reports - Twitter Inc made further staff cuts in the trust and safety team handling global content moderation and, in the unit, related to hate speech and harassment, Bloomberg news reported on Saturday. Source Reuters Read More


Federal Govt Tasks MSMEs to Leverage SON’s Laboratory - The Federal Ministry of State for Industry, Trade and Investment has tasked Micro Small and Medium Enterprises (MSMEs) in the North-eastern part of the country to take advantage of the Standards Organisation of Nigeria’s (SON’s) recently commissioned laboratory to test their products. Source Leadership Read More

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