SUN
NGX Reverses Bearish Momentum, Registers N74bn Gain
After three consecutive days of bull’s dominance, the Nigerian equities market on Thursday reversed its negative trend recording a N74 billion gain, its first closure in the positive territory for the week. The Nigerian Exchange Limited (NGX) All-Share Index (ASI) witnessed a commendable uptick of 0.13 per cent or 130.66 basis points from… Read More
BUSINESSDAY
N50bn Monthly Diesel Costs Threaten Nigeria’s Communication Backbone
Rising diesel prices are threatening Nigeria’s communication backbone, with telecommunication operators’ spending on the fuel rising to N50.28 billion in February. This was a 50.20 percent increase from the N33.48 billion (at N836.91/litre) they spent in the same period of 2023 and a 9.02 percent increase from the N46.12 billion… Read More
VANGUARD
Manufacturers’ Income Tax Falls 6.85% To N145bn In Q4’23
In apparent reflection of the hardship being faced by manufacturing companies in Nigeria, the income tax paid by the manufacturers fell by 6.85 percent quarter-on-quarter (QoQ) to N145.06 billion in the fourth quarter ended December 31, 2023 (Q$’23) from N155.72 billion in Q3’23. The decline in income tax paid by manufacturers comes amidst… Read More
PUNCH
House of Representatives Warned Against Criticising Cement Manufacturers
The Centre for the Promotion of Private Enterprise has said that it is concerned about the recent remarks on the floor of the House of Representatives on cement prices, which portrayed cement manufacturers in a bad light. A statement signed by the CPPE CEO, Muda Yusuf, said most of the remarks at the session were capable of inciting the… Read More
ECONOMY HEADLINES
PUNCH
States Owe Federal Government N1.7tn Budget Loans
The governments of Nigeria’s 36 states and the Federal Capital Territory owe the federal government an outstanding liability of N1.72tn in budget support facilities. The figures were revealed in a presentation on state budget support facility by Office of the Accountant General of the Federation, at the 140th meeting of the National Economic… Read More
FAAC: Federal Government, States, Local Governments Share N1.2trn For February
The Federation Account Allocation Committee shared N1.152.trn to the three tiers of government for February 2024 from a gross total of N2,326.14trn. This was revealed in a statement signed by its Director, Press and Public Relations, Mohammed Manga, after its February 2024 meeting chaired by the Minister of Finance and Co-ordinating… Read More
SUN
Trapped Funds: We Can’t Exchange Naira At I&E Foreign Exchange Rate, Foreign Airlines Tell Federal Government
Foreign airlines have said that they are still unable to repatriate trapped funds from the sale of flight tickets as they cannot exchange forex at the I and E window at the current exchange rate. Responding to claims that the Central Bank of Nigeria (CBN) has successfully settled all outstanding foreign exchange (FX) obligations, the president, Association… Read More
POLITICAL HEADLINES
THISDAY
Tinubu: Those Alleging Malicious Embellishment Of Budget Didn’t Understand The Arithmetic
President Bola Tinubu, late last night, reacted for the first time to allegation of budget padding by Senator Abdul Ningi from Bauchi State, and concluded that those alleging malicious embellishment of the 2024 financial estimate didn’t understand its arithmetic. Tinubu said he knew the arithmetic of the numbers that he brought to the… Read More
THENATION
Federal Government: Governors Slowing Down Work On State Police
States are slowing down the take-off of state police, the Federal Government said yesterday. Frowning at the snail-like speed by the National Economic Council’s (NEC) Ad-hoc Committee on State Policing Initiative, Vice President Kashim Shettima observed that responses by some governors were not impressive. Although President Bola… Read More
TECHNOLOGY HEADLINES
SUN
Data, Technology Will Encourage Investments In Water –OPWASH
As Nigeria joins the global community to mark the World Water Day (WWD), the Organized Private Sector in Water, Sanitation & Hygiene (OPS-WASH) has again emphasized the place of data and technology, which are key to encouraging sound investments in water and wastewater systems that will benefit surrounding communities. OPS-WASH is… Read More