THISDAY
Stock Market Down N288.9bn On Profit-Taking In Dangote Sugar, 29 Others
The stock market of the Nigerian Exchange Limited (NGX) opened the week’s trading on a bearish note, dropped by N288.9 billion as profit-taking activities in Dangote Sugar Refinery Plc, and 29 others undermined market performance. As Dangote Sugar Refinery led the losers table, dropping 10 per cent or N5.90 per share to N53.10 per share, the… Read More
Bank of Industry Launches Palliative Food Programme
The Federal Ministry of Industry, Trade and Investment has unveiled the Bank of Industry (BOI) palliative food programme in its bid to cushion the effect of challenges currently being faced by Nigerians The Minister of Industry, Trade and Investment, Dr Doris Nkiruka Uzoka-Anite, at the launch of the programme at BOI head office in Lagos, said the… Read More
SUN
Expert Decries Lack Of Legal Framework, Economic Regulator At Ports
The National President of the National Council of Managing Directors of Licensed Customs Agents (NCMDLCA), Lucky Amiwero, has said that the port reforms of 2006 lacked legal framework and economic regulator, which has created various bottlenecks and hindrances in the port system. Amiwero in a letter written to President Bola Tinubu, titled… Read More
NCSCN Hails Customs On Suspension Of 25% Penalty On Imported Vehicles
National Civil Society Council of Nigeria (NCSCN) has commended the Federal Government and the Nigeria Customs Service (NCS) on the initiation of a 90-day window for the regularisation of import duties on vehicles. A statement released by the Executive Director of NCSCN, Blessing Akinlosotu in Abuja, recalled that the Customs National… Read More
ECONOMY HEADLINES
SUN
CBN Sells Foreign Exchange To BDCs At N1251/$1
In a strategic move aimed at shoring up the naira, the Central Bank of Nigeria (CBN), on Monday, said it has commenced the sale of forex at the rate of N1251/$1 to Bureau De Change (BDC) operators. This was contained in a circular by the apex bank to the BDCs, informing them that it has sold $10,000 to each operator at a rate of N1,251… Read More
THISDAY
Nigeria Set to Receive 500 Tractors to Boost Food Production
The Federal Ministry of Agriculture and Food Security has stated that over 500 tractors are expected to hit the shores of the country in its quest to drive mechanized farming in the country. The Minister of Agriculture and Food Security, Sen. Abubakar Kyari, revealed that the ministry would receive 500 tractors assembled by the John Deere Group… Read More
VANGAURD
Credit To Economy Rises 2% To N114.7trn
A breakdown of the Money and Credit Statistics report published by the Central Bank of Nigeria, CBN, yesterday show that banks’ credit to the private sector increased MoM by six percent to N80.8 trillion in February from N76.2 trillion in January. The report, however, stated that credit to the government fell MoM by 6.3 percent to N33.9 trillion in… Read More
POLITICAL HEADLINES
THISDAY
Federal Government: No Ransom Paid For Release Of Kaduna Schoolchildren
The federal government has shed more light on the circumstances surrounding the release, weekend, of the 137 schoolchildren kidnapped from Kuriga in Chikun Local Government Area of Kaduna State, saying no ransom was paid. All the 137 kidnapped schoolchildren from Kuriga were released on Sunday, while the 17 Islamic school pupils… Read More
PUNCH
Tinubu Okays Infrastructure Development Fund, Federal Government Eyes $25bn Annually
President Bola Tinubu on Monday approved the Renewed Hope Infrastructure Development Fund to bridge the country’s $25bn per annum infrastructure funding gap. The new initiative will be domiciled in the Presidency, the Minister of Information and National Orientation, Mohammed Idris, told journalists after Monday’s Federal Executive Council… Read More
TECHNOLOGY HEADLINES
SUN
Cable Cut: We’ve Restored 2.5 Terabytes Of Capacity, 100 Links –WIOCC
WIOCC, Africa’s digital backbone, in response to the cable cuts currently affecting the WACS, ACE, MainOne and SAT3 subsea systems on Africa’s western seaboard has disclosed that as at yesterday it has been able to bring up over two and a half terabytes of capacity and restored over 100 links. Chris Wood, the Chief Executive Officer… Read More