PUNCH

Equity Investors Lose N67bn Over Sell-Offs

Equity investors lost N67bn on Thursday, as the Nigerian Exchange returned to the red zone. Sell-offs in banking, insurance, and consumer goods sectors dragged the All-Share Index to a 0.12 per cent decline, closing at 101,239.10 points, while the market capitalisation, which dipped at the same rate, settled at N55.40tn… Read More

Rising Food Costs Need Urgent Attention, LCCI Tells Federal Government

The Lagos Chamber of Commerce and Industry has warned the Federal Government that the rising cost of food has reached an alarming level. In a statement signed by its Director-General, Chinyere Almona, the chamber said that the rising cost of food is a critical issue that requires immediate attention and sustained effort. It also acknowledged… Read More

SUN

Minister Orders NERC To Withdraw Licences Of Non-Performing DisCos

Inspite of the five-year extension of the operational licence of the distribution companies (DisCos), Minister of Power, Adebayo Adelabu, has ordered the Nigerian Electricity Regulatory Commission (NERC) to withdraw the licence of non-performing DisCos. Speaking to newsmen in the company of the Chief Executive Officers (CEO)… Read More

THISDAY

Federal Government Mulls Stoppage Of LPG Export Over Escalating Gas Prices In Nigeria

The federal government is considering halting the export of Liquefied Petroleum Gas (LPG) also known as cooking gas, to slow down the escalating prices of the product, the Minister of Petroleum Resources (Gas), Mr Ekperikpe Ekpo, said yesterday. Speaking on the sidelines of an internal stakeholders’ workshop in Abuja, the minister assured that… Read More

ECONOMY HEADLINES

THENATION

$800m Ports Modernisation Fund Almost Ready

The Federal Government has said the $800 million needed for port rehabilitation and modernisation of Tin-Can, Apapa and other seaports across the country is almost ready. The fund will be used to get the full potential of the nation’s blue economy and strengthen the security of the ports. Minister of Marine and Blue Economy, Adegboyega… Read More

PUNCH

FAAC: Federal Government, States Government, Local Government Share N1.15tn As Revenue Rises

Total revenue accrued to coffers of the government increased to N2.07trn in January 2024 out of which a total sum of N1.15trn was disbursed to the Federal Government, states, and Local Government Area Councils, the Federation Allocation Accounts Committee disclosed on Thursday. FAAC in a communiqué issued at the end of its monthly meeting… Read More

Senate Orders NNPCL To Release N2.7tn Tax Credit Fund

The Senate has ordered the complete release of the N2.7tn Tax Credit Fund in order to fast-track the completion of ongoing road projects across the country. The Chairman of the Senate Committee on Finance, Senator Sani Musa, (APC Niger East), made the disclosure when the Minister of Works, Senator David Umahi, appeared before the… Read More

POLITICAL HEADLIINES

VANGUARD

Be Patient, CBN Working To Strengthen Naira – Cardoso Begs Nigerians

Governor of Central Bank of Nigeria, CBN, Dr. Olayemi Cardoso, yesterday, begged Nigerians to be patient, as the management of the apex bank is doing everything possible to ensure that the Naira is strengthened. Cardoso said this at the 2024 public lecture entitled: ‘Recent Developments in a Nigerian Foreign Exchange Market: Issues… Read More

PUNCH

Palliative Palaver: Governors Tackle Akpabio, Deny Receiving Federal Government N1tn Lifeline

Governors on Thursday denied a claim by Senate President Godswill Akpabio that the Federal Government disbursed N1.08tn to states to address the food crisis in the country. During the inauguration of the renovated central mosque in the Iseyin area of Oyo State on Thursday, the state Governor, Seyi Makinde, said as the Vice-Chairman of… Read More

TECHNOLOGY HEADLINE

NAIRAMETRICS

Prepare For Greater Risks, NCC Advises Telecom Operators Ahead Of 6G Deployment

The Nigerian Communications Commission (NCC) has advised telecommunications operators in Nigeria to brace for increased risks as technology progresses from the current 5G to future generations, including 6G and 7G. The Executive Vice Chairman of the NCC, Dr. Aminu Maida, issued this warning on Tuesday during a two-day Telecoms… Read More