1. FG may sanction PoS agents over price fixing
The Federal Competition and Consumer Protection Commission has stated that it is investigating price fixing attempts by Point of Sales agents and will sanction them if they are found guilty… Read more
Source: https://punchng.com/fg-may-sanction-pos-agents-over-price-fixing/
2. Shell appoints Gbobo as MD of Gas subsidiary
Shell has announced the appointment of Mr. Ralph Gbobo as the Managing Director of its gas distribution company, Shell Nigeria Gas Limited, with effect from 1st July 2023…Read more
Source: https://www.vanguardngr.com/2023/07/shell-appoints-gbobo-as-md-of-gas-subsidiary/
3. Intercity bus fare rises by 9%, highest in South-West, North-East
The average fare for intercity bus transport in Nigeria increased by 9.09 per cent on a year-on-year basis to N4,002.16 in May, transportation data obtained from the National Bureau of Statistics (NBS) on Wednesday, disclosed… Read more
Source: https://www.ripplesnigeria.com/intercity-bus-fare-rises-by-9-highest-in-south-west-north-east/
4. Investors lose N671bn as equities tumble
Stock investors recorded a significant loss of N671bn on Tuesday at the Nigerian equity market which had posted a strong start at the beginning of the second half of the year…Read more
Source: https://punchng.com/investors-lose-n671bn-as-equities-tumble/
5. Nigerian banks operating costs higher than other countries – MPC member
A member of the Monetary Policy Committee, Adeola Adenikinju, has said Nigerian banks operating cost is higher than other countries and should be reduced… Read more
Source: https://punchng.com/nigerian-banks-operating-costs-higher-than-other-countries-mpc-member/
6. Nigeria passenger traffic grew 60% in four years – Report
The International Air Transport Association has reported a significant increase in Nigeria’s passenger traffic and seat capacity, reaching nearly 60 per cent above the levels recorded in 2019. This growth marks a continuation of the positive results already seen in the final quarter of 2022… Read more
Source: https://punchng.com/nigeria-passenger-traffic-grew-60-in-four-years-report/
7. UBA partners AfCFTA, invests $6bn to finance SMEs in Africa
United Bank for Africa (UBA) Plc has signed an agreement with the Africa Continental Free Trade Area (AfCFTA) Secretariat to provide financing for up to US$6.0bn over the next three years to eligible small and medium enterprises, SMEs, across Africa… Read more
Source: https://www.vanguardngr.com/2023/07/uba-partners-afcfta-invests-6bn-to-finance-smes-in-africa/
8. WTO canvasses improved collaboration on trade
The World Trade Organisation has stated that there is a need for improved collaboration among developing countries to boost services trade… Read more
Source: https://punchng.com/wto-canvasses-improved-collaboration-on-trade/
9. Business confidence nears record-low, says Stanbic IBTC
The removal of the fuel subsidy in Nigeria caused a sharp strengthening of price pressures in June, according to Stanbic IBTC’s Purchasing Managers Index report…Read more
Source: https://punchng.com/business-confidence-nears-record-low-says-stanbic-ibtc/
10. Customs seize N3bn smuggled rice, arrest 344 smugglers
The Nigeria Customs Service seized a total of N3.02bn worth of smuggled rice between May 2022 and May 2023, findings by The PUNCH, on Tuesday, showed… Read more
Source: https://punchng.com/customs-seize-n3bn-smuggled-rice-arrest-344-smugglers/
