Business - Companies
Updated: January 07, 2023

Business News Roundup From December 31, 2022- January 6, 2023

By Felicia Abisola Olamiji
January 07, 2023
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Welcome to the AllNews roundup of the 5 Latest Business News that made the round last week.

Mobile Subscribers Hit 218 Million

The latest industry data released by the Nigerian Communications Commission (NCC) has revealed that active subscriptions for telecommunications services across the mobile networks of MTN, Airtel, Glo, and 9mobile rose to 218.6 million in November 2022.

According to the data, the increase was driven largely by MTN, which recorded the highest gain of 3.1 million subscriptions in the month. Read more here.

Ensure No Firm Produce Fertiliser Without Government’s Approval — Farmers To FG

Farmers in Bauchi State have called on the Federal Government to get rid of adulterated fertilisers from the market and to ensure that no firm produces them without the government’s approval.

Some of the farmers who spoke with the News Agency of Nigeria (NAN) on Tuesday urged the government to check fake, substandard production of fertiliser and also urged the government to issue sales permits to operators. Read more here.

E-Payment: Nigerians' Spending On Utility Bills Rises By N576 Billion

Data from the Nigeria Inter-Bank Settlement System has revealed that spending on electronic bills such as power, PayTV, and other utilities increased by N576.41 billion in 2022.

According to the data, N2.63 trillion was spent on e-bills from January 2022 to November 2022, which reflects a 28.14 per cent increase from the N2.05 trillion that was spent in the corresponding period of 2021. Read more here.

2025: CBN To Reduce Cash-Based Transactions

As the new naira notes circulate in the economy, the Central Bank of Nigeria has said the use of cash payment will naturally reduce by 2025.

The CBN said this in its Payments Vision 2025 document. Read more here

2023: EKEDC To Provide 20-Hour Daily Power Supply

The management of Eko Electricity Distribution Company (EKEDC) has revealed that the company has made provision for 20 hours uninterrupted daily electricity supply to its customers in 2023.