 Across Nigeria, ride-railing drivers are protesting. They are demanding that Uber, Boat and all the ride-hailing companies increase their fares by at least 200%. A typical morning in Lagos in Russia, a good time of the day for cab drivers but on Wednesday, ride-hailing drivers will think Uber, Boat, Lag Ride-In driver are protesting. At the direction of the Magaleta Union of Ab-based Transport Workers of Nigeria, the drivers are following a seated home order until the ride-hailing companies increase their base fares. According to a statement from the union, the rise by the Ab-based companies was between 25% and 30% significantly less than the union's demand of a 200% increase and accordingly a 50% reduction in commission. Now, the strike which got underway on Wednesday was also a response to the hefty commission fees established by Uber and both two of Nigeria's largest ride-hailing companies. On the show today, we'll keep an eye on the strike. They're the men's and other issues. Welcome to Business Insight and Plus TV Africa. I am Justin Akadone. Welcome back. We'll begin with a round-off of major business stories. President Bola Tinibu has directed the National Economic Council Neck led by Vice President Kashim Shatima to begin the process of working on interventions to ameliorate the impact of fuel subsidy removal on Nigerians. Ogun State Governor Dakbo Abiodom stated this after leading some major oil marketes on a court's call on President Tinibu and the President Chauvilla, Abuja. Addressing State House correspondent after the meeting, he said the marketes were in the President Chauvilla to express solidarity with the President for his bold decision to end subsidy payment. His Excellency, Vice President Kashim Shatima and the Committee of Neck alongside the economic team and marketers should sit down and come up with a wholesome approach that would be beneficial to the common man and the generalty of Nigerians. We all collectively agreed that we're going to walk at providing real mass transit buses that work, the ones that will run on CNG, which is the compressed natural gas and diesel interchangeably. And hopefully we're going to start with about 50 to 100 and that is in the very, very short term. They're like 50-seater buses. The buses are probably at the cost of about 100 million Naira H. So they are donating 100 buses, that's 10 billion, just from the marketers. By the grace of God, within the next 30 days, we're going to be launching what we call a e-mobility, which allows us to take our petrol, powered or cutters back from the riders and offer them electric motorcycles. So you will begin to see these kind of initiatives across the length and breadth of the country. Now 10 publicly listed commercial banks in Nigeria incurred 227.3 billion Naira in banking sector resolution costs to the assets management corporation of Nigeria, Amcon, in 2022. Compared to the previous year of 192.14 billion Naira, the Amcon expense by the banks increased by 18.3% year on year. This is according to data extracted from the audited reports of the banks. The increase in Amcon banking sector resolution costs is following a 23.7% increase in the total assets of the banks. Finance reveals that the total assets of the 10 banks increased from 90 or 49.1 trillion Naira recorded as of December 2021 to 60.7 trillion Naira in 2022, representing an increase of 11.6 to trillion Naira in one year. Moving on, the World Bank has recently disclosed its projections for Nigeria's economic growth, estimating it at 2.8% in 2023 with a slight revision since January and a marginal increase to 3% in 2024. However, the bank emphasizes that this growth rate will only result in a mega per capita income growth of 0.4% per year over on average in 2023 to 2024, for then far short of what is necessary to make significant progress in recent extreme poverty. Additionally, the report wants of various obstacles, including foreign exchange restrictions, high living costs, security challenges, and limited fiscal space, which are expected to impede growth momentum, as highlighted in the June 2023 global outlook. And finally, in business round-off, our Nigerian equities market closed negative as the key market indicator that climbed by 14.33% or basis point amid positive market breaths. The NGX all share index declined by 0.03%. The close at 56,024.52 BPS, as against the 0.42% gain recorded previously, the close at 56,038.85 basis point at the end of the last trading session. In Naira terms, the NGX market cap records 7.81 billion Naira loss. Year to date, the NGX ASI stands at 9.31%. The total volume traded advanced by 23.3% to close at 397.62 million Naira, valued at 6.54 billion and traded in 5,613 deals. And that's business round-off for today. We'll take a quick break and I'll be introducing my guests shortly. Don't go away.