PUNCH
Equity Market Begins Week With N404bn Loss
The Nigerian equity market closed the first trading day of the week on a negative note, with the All Share Index declining by 0.72 per cent to settle at 97,881.75 points. The decline moderated the market’s year-to-date return to 31.87 per cent, the month-to-date to 0.16 per cent, and the week-to-date to -0.72 per cent. Market capitalisation ended… Read More
BUSINESSDAY
Nigeria’s Fiscal Deficit Drops 29% To N2.82trn
Nigeria’s budget deficit has reduced by 29 percent from 2023 as the federal government eyes banks’ realised foreign exchange gains. BusinessDay analysis of the data from the latest quarterly statistical bulletin of the Central Bank of Nigeria (CBN) shows that the country’s fiscal deficit fell 29 percent to N2.83 trillion in the first quarter… Read More
THENATION
Manufacturers Association Of Nigeria Seeks Growth Of Cable Industry
The Manufacturers Association of Nigeria (MAN) has committed to enhancing the market penetration of Coleman Wires and Cable products across Africa. MAN Director-General Mr. Ajayi-Kadir gave the commitment during a recent tour of Coleman Wires and Cable Industries’ factories in Arepo and Sagamu, both in Ogun State. The… Read More
SUN
Senior Civil Servants Demand Restoration Of Gratuity, Fair Pension Reviews
Workers in the civil service across the nation have demanded that for the restoration of gratuity payments to public service employees in treasury-funded Ministries, Departments, and Agencies (MDAs) and the inclusion of pensioners under the Contributory Pension Scheme (CPS) in the review of pension rates. The workers under the… Read More
ECONOMY HEADLINES
VANGUARD
Distress As Harsh Economy Forces Shutdown Of Over 50 Firms
LAGOS — Over 50 firms in the chemical and non-metallic products sub-sector of the nation’s economy are in a dilemma as multinationals, medium and small-scale enterprises, SMEs, and member companies are either exiting, on the verge of shutting down or operating at low-capacity utilisation. It will be recalled that the employers, under… Read More
PUNCH
Nigeria’s Crude Oil Production Now 1.3mbpd – OPEC
Nigeria’s average daily crude oil production increased marginally to 1.307 million barrels per day in July, the Organisation of the Petroleum Exporting Countries said on Monday. OPEC’s figure is contrary to claims by President Bola Tinubu and the Chief Executive of the Nigerian Upstream Petroleum Regulatory Commission, Gbenga Komolafe, that… Read More
THENATION
Tinubu: CNG-Powered Transport Will Lift Economy
The prospect of Compressed Natural Gas (CNG)-powered vehicles on our roads for public transportation brightened yesterday with the receipt of 90 high-capacity buses by the Federal Government. President Bola Ahmed Tinubu, who declared that the use of CNG buses is the way to go in boosting the nation’s economy and alleviating transportation… Read More
POLITICAL HEADLINES
PUNCH
Federal Government, Governors Reach Three-Month Agreement On Local Government Allocations
The Federal Government and state governors may have agreed to a three-month moratorium on Local Government autonomy, over concerns arising from its impact on salary payments and operational viability, The PUNCH learnt on Monday. The development means Local Governments may wait till October before the implementation of… Read More
SUN
Representatives Seek 25-Year Jail Term, N10m Fine For Separatist Agitators
The House of Representatives is proposing a 25-year imprisonment or N10 million fine, or both, for any person convicted for making a statement or taking an action that leads to separatist agitation or inter-group or sectional conflict in the country. This is contained in the Counter Subversion Bill 2024 before the House. The proposed… Read More
TECHNOLOGY HEADLINES
THENATION
Sanwo-Olu To Inaugurate Digitalised Lagos Revenue Portal
Lagos State Governor, Babajide Sanwo-Olu will be inaugurating the Lagos Revenue Portal (LRP) on Thursday. The online platform was designed to simplify revenue collection and make the process more efficient, convenient and secure. Special Adviser to the governor on Taxation and Revenue, Opeyemi Ogungbo, in a statement, said the… Read More