Nigerian Newspapers: Top 10 Business Stories Today

Top 10 Stories From Nigerian Newspapers Today, 25th January 2023

1 year ago
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Here are the top 10 stories from across Nigerian daily Newspapers for today, 25th January 2023 on politics, economy, business and more.

1. Naira Reissue: CBN Insists On January 31 Deadline For Old Notes

Despite the pressure by various groups for extension of the deadline for phasing out the old ₦1,000, ₦500, ₦200 notes, the Central Bank of Nigeria (CBN) has insisted that they would cease to be legal tender by 31st January. Read more

2. Atiku In Delta Promises To Restructure, Restore Unity In Nigeria

Presidential candidate of the Peoples Democratic Party (PDP), Atiku Abubakar, has restated his commitment to restructuring and unifying Nigeria if elected in next month’s election.

Atiku made the pledge during the PDP presidential campaign rally in Asaba Delta State on Tuesday.

3. Constitution Amendment: States Reject LG Autonomy

State houses of assemblies across Nigeria have rejected nine constitutional amendment bills including the proposed legislation for financial and administrative autonomy for local government councils.

This was as the Senate on Tuesday, transmitted 35 of the 44 proposed Constitution amendment bills to President Muhammadu Buhari for assent.

4. Stamp Duty: CBN Collects ₦370bn Not ₦89trn 

The Central Bank of Nigeria (CBN) has debunked claims that it is holding on to N89 trillion stamp duty collection.

The CBN Governor, Godwin Emefiele, who made the clarification at a media briefing after the monetary policy committee meeting on Tuesday, said that the total revenue collected as stamp duty between 2016 and 2022 is N370.686 billion.

Muhammed Kazaure, a member of the House of Representatives, had in a petition to President Muhammadu Buhari in 2022, claimed that ₦89 trillion collected as stamp duty had been stolen.

5. Nigerian Government Stops Sugar Importation

The Nigerian government has stopped the importation of refined sugar and provided 300,000 hectares of irrigated land in nine states of the Federation.

This is part of plans to actualise the second phase of the 10-year Nigerian Sugar Master Plan, expected to contribute over ₦500 billion to the nation’s Gross Domestic Product (GDP).

6. Buhari Sets Up 14-member committee over Fuel Subsidy issue

President Muhammadu Buhari has approved the constitution of a 14-man Steering Committee on Petroleum Products Supply and Distribution management to ensure transparent and efficient supply and distribution of petroleum products across the country.

This was announced in a statement issued by the Minister of State for Petroleum Resources, Timipre Slyva.

The committee will be chaired by the President, with the Minister of State for Petroleum Resources, Timipre Sylva, acting as the alternate chairman. Read more

7. Inflation: CBN Raises Interest Rate To 17.5% 

In its quest to contain inflation in the country, the Central Bank of Nigeria (CBN) has increased the interest rate for lending from 16.5% to 17.5%.

The decision was made during a meeting of the CBN’s Monetary Policy Committee for January, held on Tuesday. Read more.

8. Buhari Commissions Lagos Blue Rail Line

President Muhammadu Buhari on Tuesday commissioned the first phase of the Lagos Blue Rail Line. The president together with the Lagos State Governor, Babajide Sanwo-Olu, took a ride in the train for testing. Read more.

9. Labour Party Condemns Attack On Obi’s Campaign Team In Katsina

The Labour Party Presidential Campaign Council has condemned the attack on its presidential candidate, Mr Peter Obi in Katsina State on Tuesday.

Obi and his team were on their way to the airport after the rally at Muhammad Dikko Stadium when some hoodlums threw heavy stones at his convoy. Read more.

10. Edo Refinery Begins Production, To Raise Capacity To 21,000 bpd

Modular refinery backed by the Edo State government has begun production at its 6,000 bpd plants in Ologbo, Ikpoba Okha Local Government Area.



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