BUSINESSPOST

Nigeria’s Stock Exchange Records Marginal 0.05% Growth

The flagship stock exchange in Nigeria posted a marginal appreciation of 0.05 per cent on Thursday consumer goods and industrial goods sectors closed higher by 0.31 per cent and 0.01 per cent, respectively. Business Post reports that the Nigerian Exchange (NGX) Limited survived a scare today after investors booked profit in the banking, insurance… Read More.

PUNCH

Address Multiple Taxes, SME Operators Tell Tinubu

Some business owners have called on President Bola Ahmed Tinubu to address the issue of multiple taxation challenges facing Small and Medium Scale Enterprises in the country. According to a statement made available to our correspondent on Wednesday, the call was made at the 11th edition of Inspiring Change Conference 2024 with the theme… Read More

SUN

Federal Government Releases N100bn Consumer Credit Fund For Manufacturers

The Federal Government, yesterday, announced that it will provide N100 billion to support the manufacturing sector. Minister of Budget and Economic Planning, Senator Atiku Bagudu who disclosed this in Abuja during an interaction with newsmen, said that the manufacturing sector is facing a serious challenge. So, the Consumer Credit Fund would… Read More

Federal Government To Fix Capital Base For Discos

The Federal Government yesterday disclosed plans to set capital base for Electricity Distribution Companies (Discos). Minister of Power, Mr. Adebayo Adelabu, stated this during a visit to the Corporate Headquarters of Ikeja Electric in Lagos, yesterday. Adelabu frowned at a situation whereby Discos were only interested in revenue generation to… Read More

ECONOMY HEADLINES

PUNCH

Port Harcourt Refinery Gets 450,000 Barrels Crude, Resumes Operations April

The Group Managing Director of the Nigerian National Petroleum Company Limited, Mele Kyari, has said the Port Harcourt refinery will commence operations in about two weeks’ time. According to Kyari, mechanical works have been completed on the Port Harcourt, Warri, and Kaduna refineries, stressing that the Kaduna refinery will… Read More

CBN Insists Banks Can’t Pay Dividends From FX Revaluation Gains

The Central Bank of Nigeria has reiterated that banks operating in the country cannot use their foreign exchange revaluation gains to pay dividends or meet their operational expenses. In a circular from the apex bank on Thursday signed by the acting Director, the Banking Supervision Department, Adetona Adedeji, banks were warned… Read More

BUSINESSDAY

VAT Revenue Increases By 26% To N1.2trn In Q4 2023

The federal government in the fourth quarter of 2023 generated a total of N1.20 trillion from Value Added Tax. This is a 26.6 percent increase from N948 billion generated in the third quarter. According to the National Bureau of Statistics report, local payments recorded were N630 billion, foreign VAT payments were N326.27 billion, while import VAT… Read More

POLITICAL HEADLINES

SUN

Orasanye Report: Don’t Take Our Jobs –Civil Servants Beg Federal Government

President Bola Tinubu has written to the Senate and House of Representatives seeking for the repeal and reenactment of the Students’ Loan Act. The president, specifically asked the Senate to accord his request expeditious consideration. Senate president, Godswill Akpabio, read the senate’s version during plenary in the red chamber, while the… Read More

BUSINESSDAY

Senate Moves To Repeal, Reenact Student Loan Law

A bill for an Act to repeal the Students Loan and Access to Higher Education Act 2023 and enact the Student Loans Access to Higher Education Bill 2024 has passed second reading at the Senate on Thursday. President Bola Tinubu had in June 2023, signed the Student Loan Bill into law to enable Nigerian students to access loans at interest-free… Read More

TECHNOLOGY HEADLINES

NAIRAMETRICS

Internet Service Disruption: NCC Says Damaged Undersea Cables Are Being Repaired

The Nigerian Communications Commission (NCC) has said that the operators of damaged international undersea cables that have caused Internet service disruption in Nigeria and other countries, have begun repair works and are gradually restoring services. The Commission disclosed this in a statement issued on Thursday night by its… Read More