Nigerian Newspapers: Top 10 Business Stories Today

Top 10 Stories From Nigerian Newspapers Today, 13th October 2023

6 months ago
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Here are the top 10 stories from Nigerian daily newspapers for today, 13th October 2023 on Politics, business, entertainment and economy.

1. CBN  Lifts Forex Ban on 43 Items

The Central Bank of Nigeria has finally lifted the foreign exchange restrictions it placed on importers of 43 items eight years ago.

The apex also promised to regularly intervene in the Forex market. Read more.


2. Don’t be Influenced By Politicians, Nigerians Warn New EFCC Chairman

Nigerians have reacted to the appointment of Mr. Ola Olukoyede to serve as the Executive Chairman of the Economic and Financial Crimes Commission (EFCC), urging him not to allow politicians to use him.

They urged him to act in line with relevant laws for fighting corruption in order to avoid being disgraced out of office like some of his predecessors.

President Tinubu on Thursday approved the appointment of Mr Olukoyede, a pastor at Redeemed Christian Church of God (RCCG), to serve for a renewable term of four years in the first instance, pending his confirmation by the Senate. Read more.

3. How Tinubu Breached Law On Olukoyede’s Appointment As EFCC Chairman – Expert

The appointment of Mr. Ola Olukoyede to serve as the Executive Chairman of the Economic and Financial Crimes Commission (EFCC), has generated reactions from Nigerians who have questioned the legality.

The validity of Olukoyede’s appointment as the Commission’s chairman has come under scrutiny, particularly in light of Section 2 (3) of the EFCC Act 2004, which states that a chairman “Must be a serving or retired member of any government security or law enforcement agency not below the rank of Assistant Commissioner of Police or equivalent; possess not less than 15 years’ experience.”

However, Tinubu’s spokesman, Ajuri Ngelale in a statement announcing the appointment, said it was based on the powers vested in the president as established in section 2 (3) of the EFCC (Establishment) Act 2004.

4. Uba Defection To APC Will Liberate South-East – Ganduje

Dr. Abdullahi Ganduje, National Chairman of the All Progressives Congress (APC), has expressed his firm belief that Senator Ifeanyi Ubah’s defection to the ruling party will signal will bring positive development to the South-East.

Ganduje made the assertion during the official presentation of the senator representing Anambra South by the Senate President, Godswill Akpabio at the party’s national headquarters in Abuja.

Senator Uba was formerly a member of the Young Progressives Party (YPP).

5. Decreasing Investment in Manufacturing Sector, Worries LCCI

The Lagos Chamber of Commerce and Industry has raised concerns about the significant influx of loans and bonds into the manufacturing sector during the first half of the year.

6. NNPC, Oilserv to Complete $2.5bn AKK Gas Pipeline Project Next July

NNPC Limited and its contractor for the $2.5 billion Ajeokuta-Kaduna-Kano, AKK, gas pipeline, Oilserve Limited, have promised to deliver the 614 kilometers project by July next year.

They gave the assurance on Thursday during an inspection tour of the project by the Minister of State, Gas, Ekperikpe Ekpo, at the Pai River crossing session in Kwali Area Council of the Federal Capital Territory, Abuja.

The minister tasked them to adhere to the project completion deadline. Read more.

7. Nigeria’s Oil Output Rises Hits 1.5m bpd in September – OPEC

Nigeria, a member of the Organization of Petroleum Exporting Countries (OPEC), recorded a surge in crude oil production in September 2023.

According to OPEC’s latest monthly oil market report, Nigeria’s oil production reached 1.5 million barrels per day when condensates were factored in, solidifying its status as a key contributor to the global oil market. Read more.

8. PIA: NUPRC Grants First Petroleum Exploration Licence

The Nigerian Upstream Petroleum Commission (NUPRC) has announced that it has issued a Petroleum Exploration Licence (PEL) to TGS-PetroData Offshore Services Limited (TGS-PD).

It said the approval was in accordance with Section 71 (1) through (10) of the Petroleum Industry Act (PIA).

9. IMF Discusses Debt With Creditors as Nigeria Considers Restructuring

The International Monetary Fund (IMF) has stated that it is in discussions with creditors to identify criteria that would connect debt restructuring and debt reduction given the effects of climate crisis. This is as the Nigerian government mulls over the idea of debt restructuring. Read more

10. Tinubu Asks Supreme Court To Dismiss Atiku’s Petition

President Bola Tinubu has asked the Supreme Court to dismiss the appeal filed by former Vice President Atiku Abubakar and the Peoples Democratic Party (PDP) challenging his victory in the 2023 presidential election. Read more










Victor Ezeja is a passionate journalist with six years of experience writing on economy, politics and energy. He holds a Masters degree in Mass Communication.


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