
BUSINESSPOST
NGX All-Share Index Falls Below 100,000 Points After 0.80% Midweek Loss
The free-fall of the Nigerian Exchange (NGX) Limited depleted the All-Share Index (ASI) below 100,000 points on Wednesday after it closed lower by 0.80 per cent. The midweek loss was mainly caused by selling pressure in the consumer goods sector, which outweighed the buying pressure witnessed in the financial services counter. Data showed… Read More
SUN
Electricity Tariff Hike: 65% Manufacturing Firms, SMEs May Shutdown –OPSN
The Organised Private Sector of Nigeria (OPSN) has lamented the over 200 per cent increase in electricity tariff, saying over 65 per cent of private businesses, especially manufacturing firms and SMEs, may be forced to shut down due to the high electricity tariff. Director General of the Manufacturers Association of Nigeria (MAN), Segun… Read More
THISDAY
TCN Deploys Generation Loss Detection System To Curb Incessant Power Outages
The Transmission Company of Nigeria (TCN) yesterday said it had deployed the Generation Loss Detection System (GLDS) which it said plays a pivotal role in detecting and responding to sudden drops in power generation across the network. The innovation, a statement from the General Manager, Public Affairs, Ndidi Mbah, said, stands as a testament… Read More
PUNCH
NPA Secures $700m Loan For Apapa, Tincan Ports Rehabilitation
The Nigerian Ports Authority says has secured a $700m loan from Citibank for the rehabilitation of the Apapa and Tincan Island Ports in Lagos. The loan was funded by the UK Export Finance, an export credit agency. Announcing this in a statement on Wednesday, the NPA said it had also opened discussions with another funding agency to… Read More
ECONOMY HEADLINES
PUNCH
Federal Government To Execute $3.8bn Gas Supply Agreement In May
The Gas Supply and Purchase Agreement to support the Final Investment Decision for the $3.8bn Brass methanol project is to be executed in May 2024, the Federal Government announced on Monday. The Brass methanol project is a major industrial project being built in Bayelsa State to produce methanol, a key industrial chemical, using natural… Read More
VANGUARD
Nigeria’s Debt-To-GDP Ratio To Reach 46.6% In 2024 — IMF
The IMF disclosed this in its Fiscal Monitor for April 2024 titled: “Fiscal policy in the great election year”. It also downgraded the country’s fiscal balance-to-GDP ratio to -4.6 percent in 2024 from -4.2 percent in 2023. According to the IMF, large shares of loans on concessional terms, high inflation, and resulting favorable interest-growth differentials had… Read More
THISDAY
Cardoso: CBN Has No Intention Of Intervening In Forex Market
The Governor of the Central Bank of Nigeria (CBN), Mr. Olayemi Cardoso, yesterday, reiterated the apex bank’s stance of not intervening in the foreign exchange (FX) market, insisting that the regulator remains firm in its commitment to fostering a market-driven exchange rate system. The CBN Governor said this during an interactive… Read More
POLITICAL HEADLINES
THENATION
Violent Ethnic Agitators Will Pay The Price, Says Tinubu
The President talked tough yesterday on violent ethnic agitation. According to him, those who push for the balkanisation of the country violently will face the consequences. President Bola Ahmed Tinubu said: “Those who think they can threaten the sovereignty of Nigeria will have themselves to blame. “They have a price to pay and we are not going to… Read More
PUNCH
APC Chief Calls For N100bn Budget To End Party’s Reliance On Elected Officials
A former National Vice Chairman of the All Progressives Congress (North-West), Salihu Lukman, has disclosed that the Dr Abdullahi Ganduje-led National Working Committee of the party must work towards raising an annual budget of N100bn to operate at an optimal level and to avoid depending on elected officials for funding. Lukman also… Read More
TECHNOLOGY HEADLINES
NAIRAMETRICS
Mobile Money Transactions In Nigeria Jump To N17 Trillion In Q1 2024 – NIBSS
Mobile money operators (MMOs) in Nigeria, comprising the likes of OPay, Palmpay, and others, witnessed a surge in transactions in the first quarter of 2024, hitting N17.2 trillion. This is according to data released by the Nigeria Inter-Bank Settlement Systems (NIBSS). The mobile money transactions figure for Q1 2024 represents an 89% year… Read More