Business News Headlines From Nigerian Newspapers For Today, April 18, 2023

A pleasant day to you, and welcome to TOP MEDIA‘s Business News Headlines round-up for today, Tuesday April 18, 2023.

Below are the latest business news from selected Nigerian newspapers:

What Sanwo-Olu Told Investors at World Bank-IMF Meeting

Babajide Sanwo-Olu, governor of Lagos, has assured investors that the state is the right place for investments and “the crown subnational jewel of the African economy”.

Sanwo-Olu spoke recently at the United States-Nigeria council for food security, trade and investment (UNSC) event, held on the sidelines of the recent World Bank-International Monetary Fund (IMF) spring meetings in Washington DC. Read the complete report here.

Transcorp’s Quarterly Profit Falls by 63%

Transnational Corporation of Nigeria (Transcorp) saw its net profit for the first three months of the year slow by 63.1 per cent as costs rose at a quicker pace than revenue.

Details of the company’s financial report published on Monday showed that it incurred N2.4 billion in foreign exchange loss, about five times the figure for the same period of last year. Read the complete report here.

‘Additional Taxes Would Make Businesses More Vulnerable’, NECA tells FG

The Nigeria Employers’ Consultative Association (NECA) says any attempt by the federal government to increase taxes will lead to a negative impact on households, individuals, and businesses.

Adewale-Smatt Oyerinde, NECA’s director-general, took this position in a statement on Sunday. Read the complete report here.

NNPC Deepens Investments in Ajaokuta-Abuja-Kano Gas Pipeline, OB3, Others

The Nigeria National Petroleum Company Ltd. (NNPC Ltd) is deepening investments in the Ajaokuta-Abuja-Kano (AKK) gas pipeline and OB3 gas interconnector to support five billion standard cubic feet per day domestic gas utilisation.

Malam Mele Kyari, the Group Chief Executive, NNPC Ltd., made this known in Abuja on Monday at the opening of the sixth edition of the Nigeria International Energy Summit (NIES 2023). Read the complete report here.

IKEDC Generates Highest Revenue in Q3, Q4 2022 – Report

The National Bureau of Statistics (NBS) has disclosed that the Ikeja Electricity Distribution Company (IKEDC) had the highest electricity revenue for the third and fourth quarters of 2022.

NBS noted that the Ikeja DisCo generated N40,558.7 billion and N45,625.79 in the third and fourth quarters of 2022, respectively. Read the complete report here.

That’s the latest business news for today. Visit to stay up to date with genuine, accurate and timely business updates. Do enjoy the rest of your day.

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