BUSINESSPOST
Local Stock Market Indices Reverse Negative Trend, Gain 0.24%
Equity investors smiled home on Wednesday after the Nigerian Exchange (NGX) Limited rebounded by 0.24 per cent to reverse the negative trend. The local stock market appreciated at midweek following renewed bargain-hunting by traders, who re-invested in shares after booking profit in the last two previous sessions. Business Post… Read More
PUNCH
Bonded Terminal Operators Blame Forex For Business Downturn
The country’s foreign exchange crisis, hike in freight rate, and economic downturn have led to a 70 per cent drop in activities at bonded terminals, the General Secretary of the Association of Bonded Terminal Operators of Nigeria, Haruna Omolajomo has disclosed. Omolajomo, who spoke exclusively with The PUNCH in Lagos on Tuesday… Read More
Discos Generate N293bn Despite Blackout
Power distribution companies made a total of N292.71bn revenue in the first quarter of this year despite complaints of inadequate electricity supply by consumers and concerns about the huge indebtedness for power generation by producers of the product. Latest fact sheets on the commercial performance of distribution companies obtained from the… Read More
BUSINESSDAY
Investors Pullout Looms For 20 Modular Refineries Over Crude Supply
Funding for the construction of 20 modular refineries in Nigeria is at risk as foreign investors withhold their money due to a lack of guaranteed crude oil supply for the facilities. These modular refineries, aimed at boosting domestic refining capacity, are facing a major hurdle. International oil companies, the primary source of crude oil in Nigeria, are… Read More
ECONOMY HEADLINES
BUSINESSDAY
Federal Government Mulls Fresh N7.24tn Loan To Stabilise Economy
The Federal Government may borrow an additional N7.24 trillion in 2024 to fund an intervention plan aimed at reviving its economy. This was revealed during a presentation by Wale Edun, the minister of finance and coordinating minister of the economy, on an Accelerated Stabilisation and Advancement Plan (ASAP). The plan aims to… Read More
PUNCH
Cooking Gas Export Ban Crashed Domestic Price – Marketers
The Federal Government’s ban on the export of Liquefied Petroleum Gas, popularly called cooking gas, has led to a crash in the cost of the commodity from about N1,500 per kilogram to around N900/kg, LPG dealers stated on Wednesday. Cooking gas dealers under the aegis of the Nigerian Association of Liquefied Petroleum Gas Marketers… Read More
Minimum Wage: Finance Minister Submits Template To Tinubu Today
The Federal Government and Organised Labour on Wednesday adjourned the minimum wage talks till Thursday (today) when the negotiation is expected to continue. The Tripartite Committee on National Minimum Wage postponed the session in anticipation of the Minister of Finance, Wale Edun, submitting the salary template to President Bola… Read More
POLITICAL HEADLINES
PUNCH
Senate Okays N60m Salary For CJN, Supreme Court Justices
The Senate, on Wednesday, passed a bill seeking an upward review of salaries, allowances and other fringe benefits of judicial officers in the country. This followed the adoption of the report of the Committee on Judiciary, Human Rights and Legal Matters presented by the Chairman of the committee, Senator Mohammed Monguno (APC, Borno… Read More
SUN
Northern Senators Fume As Lawmakers Move To Restrict Cattle Herders
Amidst a rancorous session, the Senate, yesterday, passed a bill to establish the National Animal Husbandry and Ranches Commission for second reading. Despite heated debates, the senators voted in favour of the bill sponsored by Titus Tartenger Zam (Benue North West) meant to control and regulate cattle rearing ranching business across… Read More
TECHNOLOGY HEADLINES
VANGUARD
Media Professionals Push For AI Regulation Over Unauthorized Scraping Of Data
Barring any change of mind, there may soon be a bill in the National Assembly for an act that will compel relevant authorities to regulate Artificial Intelligence, AI and make it pay for data scraped from media platforms without authorisation. Hi-Tech gathered that some media managers are putting plans in place to ensure a legislation that will not only… Read More