Top Business & Finance News Headlines For Today, Monday, 30th October, 2023

1. Lagos set to bridge 15,000 skill gaps in built industry

The Lagos State Governor, Babajide Sanwo-Olu, has said that his administration would create additional youth empowerment centres to bridge the over 15,000 skill gaps in the built sector… Read more

Source: https://punchng.com/lagos-set-to-bridge-15000-skill-gaps-in-built-industry/

2. Chinese loan rises by $800m in one year, hits $4.73bn

Nigeria’s debt to China increased from $3.93bn as of June 30, 2022, to $4.73bn as of June 30, 2023, showing an increase of $800m in one year… Read more

Source: https://punchng.com/chinese-loan-rises-by-800m-in-one-year-hits-4-73bn/

3. Importers return to parallel market as naira rebounds

Importers have returned to the parallel market to source for their forex needs as liquidity challenges persist in the official market, analysts have said… Read more

Source: https://punchng.com/importers-return-to-parallel-market-as-naira-rebounds/

4. Naira depreciation ’ll affect volume of imports — Stakeholders

A group of freight forwarders known as Patriots Anti-Corruption Initiative, T-PACI, has indicated that current pressures on foreign exchange supply and the consequent sharp depreciation of the Naira will soon crash the volume of Nigeria’s imports… Read more

Source: https://www.vanguardngr.com/2023/10/naira-depreciationll-affect-volume-of-imports-stakeholders/amp/

5. Nigerians spend $340.84m forex on education in six months – CBN

Nigerians seeking admissions to foreign universities spent $340.84m to fund their application between January and June 2023, findings by the PUNCH have shown… Read more

Source: https://punchng.com/nigerians-spend-340-84m-forex-on-education-in-six-months-cbn/

6. Technology key to insurance industry growth —NAICOM

The National Insurance Commission, NAICOM, has emphasized the need for the insurance industry to embrace technology to facilitate growth and archive the N1 trillion gross premium target it has set for end of 2023… Read more

Source: https://www.vanguardngr.com/2023/10/technology-key-to-insurance-industry-growth-naicom/amp/

7. FG to import €1.2m equipment for Eko Bridge rehabilitation 

The Minister of Works, Dave Umahi, has said the government needs to import construction equipment worth €1.2m to effectively perform rehabilitation works on the Eko Bridge in Lagos State… Read more

Source: https://punchng.com/fg-to-import-e1-2m-equipment-for-eko-bridge-rehabilitation/

8. AFREXIM, Fidelity Bank, JohnVents seal $40m cocoa export deal 

Fidelity Bank, African Export-Import Bank and agribusiness firm, JohnVents Industries have signed a $40m cocoa export deal at the Fidelity Bank International Trade and Creative Connect held in Houston, United States of America… Read more

Source: https://punchng.com/afrexim-fidelity-bank-johnvents-seal-40m-cocoa-export-deal/

9. Sterling Bank plans N1bn for agro-innovators 

Sterling Bank says it is committing N1bn to agro-innovators at the upcoming 5th edition of its annual event, Agric Summit Africa, known for its contributions to the agriculture sector… Read more

Source: https://punchng.com/sterling-bank-plans-n1bn-for-agro-innovators/

10. Challenging P$ID fraud saved Nigeria $15bn – Buhari 

Former President Muhammadu Buhari, on Sunday, said the country would have paid $15 billion if it had lost the case against the international firm, Process & Industrial Development Limited… Read more

Source: https://punchng.com/challenging-pid-fraud-saved-nigeria-15bn-buhari/