BUSINESSPOST
Secure Electronic Technology, Dangote Sugar Top Losers’ Chart As Index Sheds 0.19%
The first trading session of this week at the Nigerian Exchange (NGX) Limited closed on a negative note on Monday after a 0.19 per cent loss amid a bullish investor sentiment. Profit-taking across the key sectors of the bourse further deepened the woes of Nigerian stocks, which have witnessed a depressing period in the past sessions. Business… Read More
SUN
Banks Must Prioritize Risk Management, Ensure Borrowers’ Creditworthiness –Adetona, CBN Director
Following the Central Bank of Nigeria (CBN)’s decision to reduce the loan-to-deposit (LDR) to 50 per cent, there have been arguments from economists and analysts that this could render banks’ ability to effectively give out loans to Small Medium Enterprises (SMEs), businesses and individuals. However, the Acting Director, Banking… Read More
PUNCH
NERC Deregulates Meters Prices May 1
The Nigerian Electricity Regulatory Commission on Monday released an order on the Deregulation of Meter Prices for meters deployed under the Meter Asset Provider Scheme. It said the prices of meters were deregulated after Meter Asset Providers and other operators requested a further review of meter prices in consideration of the significant… Read More
THENATION
Labour To Picket Airlines Over Refusal To Unionise
The National Union of Air Transport Employee (NUATE) yesterday said it would picket airlines that have refused to allow their workers to join trade unions. NUATE said it is against labour law for some airlines to make employment conditioned upon not joining a trade union while those who threaten workers with sack if they join the unions are doing… Read More
ECONOMY HEADLINES
NAIRAMETRICS
CBN Raises Exchange Rate For Customs Duty Collection By N163
The Central Bank of Nigeria (CBN) has increased the exchange rate for the Nigerian Customs Service duty collection by N163. Hence, the latest exchange rate for customs duty collection has increased from N1,162/$ to N1,327 to the dollar. The current exchange rate for duty collection is just shy of the prevailing exchange rate on the official… Read More
BUSINESSDAY
Federal Government Pledges Transparency As 2024 Oil Block Bid Rounds Begin
The Federal Government, through the Nigerian Upstream Petroleum Regulatory Commission, (NUPRC) has announced that it has commenced the process for the 2024 oil bid rounds, offering about 12 oil blocks to investors. Gbenga Komolafe, the Commission Chief Executive, NUPRC disclosed this at the first edition of the NEITI House… Read More
PUNCH
Petrol Hits N800 As 240 Million-Litre Vessels Arrive
The Nigerian National Petroleum Company Limited on Monday began offloading 240 million litres of Premium Motor Spirit, otherwise called petrol, as it stepped up efforts to tackle the worsening nationwide petrol scarcity. As the NNPCL began offloading petrol, filling stations sold the product at an average price of N800 per litre in various locations. One… Read More
POLITICAL HEADLINES
BUSINESSDAY
Federal Government Plans National Road Network Program Linking 6 Geo-Political Zones
David Umahi, the Minister of Works has disclosed plans to connect the 6 -Geo-political zones of the country with an enduring network of roads that will in turn foster a more secure, safer and sustainable transportation ecosystem. The Minister stated this during his inspection visit to the km 47 axis of the Lagos-Calabar Coastal Highway… Read More
SUN
Senators Reject Electricity Tariff Hike
Minister of Power, Adebayo Adelabu, has revealed that Nigeria would need an annual $10 million to revive the country’s moribund electricity generation, distribution and supply chain. This is even as senators rejected the recent hike in electricity tariff, describing it as unacceptable and anti-people. The Minister said the sum must be spread… Read More
TECHNOLOGY HEADLINES
SUN
Tinubu Reiterates Nigeria’s Plans To Build Digital Market
President Bola Tinubu has reiterated Nigeria’s plans to build a vast digital market capable of absorbing cutting-edge innovations and technologies. This was contained in a statement by Mr. Stanley Nkwocha, Senior Special Assistant to the President on Media and Communications, Office of the Vice President, yesterday in Abuja… Read More