BUSINESSPOST
Nigerian Stocks Start April Sluggish, Lose 0.04% After Easter Break
The first trading session in April 2024 on the floor of the Nigerian Exchange (NGX) Limited ended sluggishly on Tuesday with a marginal 0.04 per cent loss as a result of mild profit-taking by investors. The majority of the key sectors of the exchange encountered selling pressure during the market day, with the industrial goods index depreciating… Read More
SUN
Recapitalisation: Banks To Raise N4trn –Agusto & Co
Credit ratings agency, Agusto and Co has said it anticipates pressure from industry stakeholders in urging the Central Bank of Nigeria (CBN) to reconsider its stance and include retained earnings or shareholders’ funds in the computation of regulatory capital. It also projected that up to N4 trillion of inflow is expected by banks to meet the… Read More
Customs Sensitises Kano FTZ Stakeholders, Warns Against Smuggling, Duty Evasion
The Kano/Jigawa Command of Nigeria Customs Service has concluded a sensitization programme on Standard Operating Procedure (SOP) for stakeholders in the Free Trade Zone to enhance compliance. Addressing participants at the event, Customs Area Controller of the command, Comptroller Dauda Ibrahim Chana described the event as a… Read More
DAILYTRUST
NPA, Lagos To Deploy Truck Call-Up System At Port
The Nigerian Ports Authority (NPA) has entered into partnership with the Lagos State Government to deploy the truck call-up system also known as “eto ca up” along the Lekki-Epe to improve the ease of doing business at the nation’s first deep seaport. The truck call-up system is to manage the traffic that is already building up in the Lekki port… Read More
ECONOMY HEADLINES
BUSINESSDAY
CBN Raises Customs Foreign Exchange Duty Rate For Cargo Clearing By 2.1%
After a few days of sustaining a slash in the Customs exchange duty rate, the Central Bank of Nigeria (CBN) has increased the exchange rate for computing Customs duties at the nation’s seaports by 2.1 percent. The Customs FX duty rate was reviewed upward from N1,303.8/$ to N1, 330.26/$ on Tuesday, April 2, according to information… Read More
THISDAY
Dangote Refinery Begins Supply of Diesel, Jet Fuel to Nigerian Market
The 650,000 mega Dangote oil refinery started supplying petroleum products to the local market yesterday, a company executive and fuel marketing associations told Reuters. Seen as a major step in the country’s quest for energy independence, the refinery, Africa’s largest, was built on a peninsula on the outskirts of the commercial capital, Lagos, at a… Read More
SUN
Electricity Tariff Hike Imminent As Federal Government Raises Domestic Base Gas Price For Power Firms
Nigerians may need to brace up for a hike in electricity charges as federal government has raised the domestic base gas price for power firms. According to the Nigerian Midstream and Downstream Petroleum Regulatory Authority (NMDPRA), the new price of natural gas for power generation companies is now $2.42 per metric million British thermal… Read More
POLITICAL HEADLINES
BUSINESSDAY
Tinubu Approves FCT’s N1.1trn 2024 Statutory Budget
Nyesom Wike, the Minister of the Federal Capital Territory, (FCT has disclosed that President Bola Tinubu has approved over N1.1trn statutory budget for the 2024 fiscal year for the FCT. Wike, who disclosed this during an ongoing media chat at his office in Abuja on Tuesday, noted that the budget will impact on infrastructure development… Read More
THENATION
Delta: Nine Suspects Now In Custody Over Killing Of Six Policemen, Says Adejobi
Sunday’s arrest of one more suspects by the police has raised the number of suspects linked to the murder of six policemen in Delta State now in custody to nine, Force spokesperson Olumuyiwa Adejobi, an Assistant Commissioner of Police (ACP), confirmed yesterday. He was giving an update on progress in the investigation into the… Read More
TECHNOLOGY HEADLINES
PUNCH
Outcry As Agents, Technical Glitches Hinder SIM-NIN Linkage
Over 40 million lines have been disconnected since the expiration of the February 28 deadline set by the Nigerian Communications Commission for the linkage of NINs to SIMs. However, long queues at the enrolment centres, telco agents not gathering all the information needed from subcribers and server downtime have been the… Read More
