BUSINESSDAY
Nigerian Breweries, NEM, UACN, Others Cause Market’s N114bn Gain
Nigeria’s equities market increased by 0.20 percent or N114billion at the close of trading on Thursday as investors after Wednesday’s public holiday approached stocks trading from the buy-side. Investors bought mostly the shares of Nigerian Breweries, NEM Insurance and UACN which led the league of top advancers on the Bourse at the close of… Read More
SUN
Money Market Funds Grow By 14% In 5 Months
Aided by investors’ strong preference for low risk, short term investment vehicles, money market funds in Nigeria rose by 14 per cent in the first five months of 2024, a coronation research weekly update revealed. According to the report, the last 12 months and particularly the past five months have seen a transformation in naira-fixed… Read More
Customs’ Operation Whirlwind Seizes 26,950 Litres Of Petrol In 2 Weeks
Operatives of the Operation Whirlwind of the Nigeria Customs Service Zone A Axis, have intercepted and seized 26,950 litres of Premium Motor Spirit otherwise known as petrol concealed to be illegally smuggled out of the country through Ogun State. The National Coordinator of Operation Whirlwind, Comptroller Hussein Kehinde Ejibunu… Read More
THISDAY
MAN: Capacity Utilisation, Production Volume, Sales, Investment Suffered Decline In Q1’24
A survey conducted by the Manufacturers Association of Nigeria (MAN) has revealed worsening impacts of macroeconomic environment on the manufacturing sector. The survey’s report, which was titled, “Manufacturers’ CEO Confidence Index (MCCI),” covered the impact of macroeconomic environment on key manufacturing indicators… Read More
ECONOMY HEADLINES
THENATION
World Bank Okays $2.25b Support Package For Tinubu’s Reforms
President Bola Ahmed Tinubu’s efforts at stabilising the economy and scaling up support for the most vulnerable citizens have received a $2.25 billion World Bank boost. Minister of Finance and Coordinating Minister of the Economy, Mr. Wale Edun, broke the news of two major financial support packages in a statement last night. They include $1.5… Read More
PUNCH
Federal Government Eyes $500m World Bank Loan For Rural Roads
The Federal Government is seeking a $500m loan from the World Bank to enhance rural road infrastructure and agricultural marketing across the federation. The international lender said the fund was expected to address the dire need for better connectivity in rural Nigeria, where 92 million people currently lack access to good roads. This request was… Read More
BUSINESSDAY
Nigeria Loses $1.4bn To Unremitted Gas Royalties, Flare Penalties – NEITI
Nigeria has lost $1.4 billion to unpaid gas royalties and gas flaring penalties, according to a new report by the Nigeria Extractive Industries Transparency Initiative (NEITI). Ogbonnaya Orji, the executive secretary of NEITI, made this known on Thursday in Abuja at a roundtable event organised by BudgIT Foundation, a non-governmental… Read More
POLITICAL HEADLINES
VANGUARD
Hardship: Labour Kicks As 20 States Deny Workers Wage Award
Eight months after the Federal Government commenced payment of N35,000, a wage award in addition to N30,000 minimum wage to workers, and urged state governments to replicate it, 15 states are yet to do so while seven paid briefly and stopped. The wage award was to lessen the burden of economic hardship on the citizenry pending the… Read More
PUNCH
Local Government Funds: Supreme Court Reserves Judgment As States Battle AGF
The Supreme Court, on Thursday, reserved judgment in the suit filed by the Federal Government against the 36 state governments, seeking to enforce the financial autonomy of the 774 local government areas. The court reserved judgment after the parties adopted their briefs. In the suit filed by the Attorney General of the Federation and Minister… Read More
TECHNOLOGY HEADLINES
THISDAY
Nigeria Commended For Surpassing 225,000 Domain Names
The global community of Internet Corporation for Assigned Names and Numbers (ICANN) has commended Nigeria for surpassing the 225,000 mark for all registered .ng domain names in the country. The total domain names of the .ng registry increased to 225,533, according to data made available by the Nigeria Internet Registration… Read More