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Daily Business News Brief – March 21st, 2023


Stock Market Down N16bn on Weak Investors’ Sentiment – Thisday
The stock market of the Nigerian Exchange Limited (NGX) yesterday opened the new trading week extending its losing streak for the seventh consecutive session as investors’ weak sentiment trading down market capitalisation by N16 billion…………. ……………..……..Read More

MPC may raise lending rate, Bloomberg economists project – Punch
As the Central Bank of Nigeria’s Monetary Policy Committee completes its two-day meeting on the economy on Tuesday, economic analysts at Bloomberg have predicted that the committee will once again raise benchmark borrowing rates….. .. ….. …….. …………….……..Read More

Oil Price Steadies After 5% Loss, Lowest in Over 15 Months – Thisday
Oil prices steadied at the weekend after dropping to near 15-month lows earlier in the session, supported by reports that top producers Saudi Arabia and Russia met to discuss ways to enhance market stability.Brent crude futures, Nigeria’s benchmark, rose 26 cents, or 0.4 per cent, to $73.95 a barrel while America’s West Texas Intermediate crude futures (WTI) rose 19 cents, or 0.3 per cent, to $67.80 a barrel when the initial shock began to subside…. ….. ,…. ………………..……..Read More

E-bills payment falls by 44% over cash crunch – NIBSS – Punch
The value of electronic utility payments fell by 44.86 per cent in February despite the Central Bank of Nigeria’s naira redesign policy aimed at growing cashless transactions.
In February, the value of utility bills payment fell to N90.93bn from N164.89bn in January according to data from the Nigeria Inter-Bank Settlement System. This signified a two-year low for ebill payment . . ….. . … …………….……..Read More

International Breweries Promotes Climate Action with Gas Powered Trucks – Thisday
In furtherance of its sustainability drive, International Breweries Plc, has commenced the use of gas-powered trucks to distribute its products across the country. This is after the company unveiled its first instalment delivery of 540 gas-powered trucks on Tuesday at its Gateway Plant in Ogun State.. …. ’…. … …………….……..Read More

How to manage your budget – Punch
When the word ‘budget’ is mentioned, the first thing that comes to mind is creating a financial list for where your money should go to. Deciding to create a budget is a great step in the right direction, but sticking to a budget is something you should be deliberate with… …. ’…. … …………….……..Read More
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