BUSINESSPOST
PZ Cussons, Dangote Sugar, 18 Others Crash Customs Street By 0.24%
A 0.24 per cent decline was recorded by the Nigerian Exchange (NGX) Limited on Tuesday despite a strong investor sentiment and positive market breadth index bolstered by 22 price gainers versus 20 price losers. The crashing of Customs Street during the session was caused by profit-taking activities in the financial and consumer goods sectors… Read More
SUN
Demurrages Swell As Server Failure Traps 1,600 Containers At Lagos Ports
For over a week running, clearing agents have not been able to lift their cargoes from Lagos ports due to an alleged server failure of Webb Foutaine, the Customs internet service provider, which crippled clearing operations. With hundreds of containers trapped at these terminals, importers and clearing agents are gnashing their teeth and counting… Read More
PUNCH
EFCC Raids Speculators As Naira Drops To 1,520/$
Operatives of the Economic Financial Crimes Commission, on Tuesday, expanded its clampdown on Bureau De Change operators, arresting traders in Abuja, Lagos, Kano and Port Harcourt. This came as the naira weakened further against the United States dollar at both the official and parallel foreign exchange markets. The recent raids… Read More
VANGUARD
Federal Government Directs Marketers To Open CNG Points In Petrol Stations
The Nigerian Midstream and Downstream Petroleum Regulatory Authority, NMDPRA, has directed petrol marketers to open Compressed Natural Gas, CNG, points at their filling stations to increase accessibility for consumers. The Chief Executive, NMDPRA, Engr Farouk Ahmed who disclosed this during a meeting with key oil marketing… Read More
ECONOMY HEADLINES
BUSINESSDAY
Federal Government Declines Price Setting For Dangote Refinery Products, Pushes CNG Expansion
The Federal Government through the Nigerian Midstream and Downstream Petroleum Regulatory Authority (NMDPRA) has restated that it will not determine the price of petroleum products from the Dangote refinery once fully operational. Farouk Ahmed, Chief Executive of the NMDPRA said the government is urging oil marketers to commence the… Read More
PUNCH
Minimum Wage: Labour Insists On May 31 Deadline As Talks Resume Today
After several weeks of hiatus, the tripartite committee set up by the Federal Government will finally meet today (Wednesday), May 15, 2024, sources familiar with the matter confirmed the development to our correspondent in Abuja on Monday. The Labour unions also stood their ground on their proposal of N615,000 minimum wage while insisting on… Read More
SUN
Federal Government Plans To Utilise N20trn Pension Fund For Housing Infrastructure
The Federal Government has unveiled a strategic initiative to harness the substantial N20 trillion pension fund and other locally available resources for infrastructure development in Nigeria. The move is part of efforts to bridge Nigeria’s estimated 20 million housing deficits and to provide massive housing and mortgage loan at 12% interest rates, with… Read More
POLITICAL HEADLINES
PUNCH
Policy Blitz: Tinubu Unveils 21 Major Initiatives After Marathon FEC Meeting
The Federal Executive Council after a marathon meeting presided over by President Bola Tinubu on Tuesday rolled out 21 major policy initiatives. The President’s Adviser on Media and Publicity, Mr Bayo Onanuga, in a post on his X handle, formerly Twitter, listed the initiatives as a 48-hour visa policy, cancelling of airport toll payment… Read More
THISDAY
Alleged $140m Bribe: House of Representatives Committee Insists Binance Claim Diversionary
The House of Representatives Committee on Financial Crimes has described the allegation concerning $140 million bribery scandal made by the Chief Executive Officer of Binance, Mr. Richard Teng, against the committee as diversionary. The Chairman of the committee, Ginger Onwusibe, stated this while addressing a press conference in Abuja… Read More
TECHNOLOGY HEADLINES
NAIRAMETRICS
CAC To Deploy AI For Faster Registration Of Businesses In Nigeria
The Corporate Affairs Commission says it is exploring ways to make use of Artificial Intelligence (AI) to achieve registration of companies within minutes in line with global best practices. The General Registrar-and CEO of the Commission, Hussaini Ishaq Magaji, stated this on Tuesday during a meeting with the Executive Vice Chairman… Read More