BUSINESSPOST
Nigerian Stocks Gain 0.11% Despite 1.50% Interest Rate Hike
Nigerian stocks shrugged off an increase in the interest rate by 150 basis points to 26.25 per cent by the Central Bank of Nigeria (CBN) on Tuesday at its Monetary Policy Committee (MPC) meeting. The Nigerian Exchange (NGX) Limited reacted positively to this and appreciated by 0.11 per cent during the session, buoyed by the 0.79 per cent… Read More
SUN
Terminal Operator Hosts Maiden Exporters’ Forum
APM Terminals, Apapa, Lagos has hosted the maiden edition of its exporters forum with a promise to support the federal government’s drive to diversify the economy through the promotion of non-oil exports. Speaking at the event, the Country Chief Executive Officer of the company, Frederik Klinke, expressed appreciation to the exporters for the… Read More
Customs Intercepts Contraband Worth N3.17bn
The Nigeria Customs Service (NCS), Federal Operations Unit (FOU), Zone B, on Tuesday, said it intercepted contraband worth N3.17billion from smugglers in one month. Speaking during a press conference in Kaduna, the Customs Area Controller, Ahmadu Shuaibu, disclosed that four smugglers were arrested in connection with the illegal… Read More
THISDAY
UK Government: Nigeria’s Capital Market Needs $10bn Financing Yearly To Meet SDGs By 2030
The UK government yesterday, said it was committed to supporting Nigeria to develop its thriving capital market and sees its Mobilising Institutional Capital Through Listed Product Structures (MOBILIST) programme as a strong basis for collaboration with Nigeria’s financial sector. The UK government also said Nigeria’s capital market could help… Read More
ECONOMY HEADLINES
PUNCH
26.25% Interest Rate: Private Sector Fears Loan Repayment Crisis
Members of the Organised Private Sector and economists have expressed fear over the latest hike in the nation’s benchmark interest (Monetary Policy Rate) by the Monetary Policy Committee, saying the decision could significantly hamper economic operators’ ability to repay their loans. At the end of its 295th meeting on Tuesday, the Governor of… Read More
Naira Slide Pushes Dangote Diesel To N1,100/Litre
The price of Automotive Gas Oil, popularly called diesel, produced by the Dangote Petroleum Refinery has increased from N940/litre to N1,100/litre due to the crash of the naira against the United States dollar, it was gathered on Tuesday. Recall that on April 24, 2024, The PUNCH reported that the Dangote refinery announced a further… Read More
SUN
Labour Rejects Federal Government’s Fresh Offer Of N54,000 Minimum Wage
The Organised Labour has rejected N54,000 offered by the Federal Government as the new minimum wage for workers in the country. The Federal Government had offered the amount instead of the N615,000 being demanded by Labour as minimum wage, at the New Minimum Wage Tripartite Committee meeting in Abuja yesterday… Read More
POLITICAL HEADLINES
THENATION
Mop Up Illegal Arms, Ammunition In Circulation, House Of Representatives Tell Inspector General Of Police
The House of Representatives yesterday urged the Inspector General of Police (IGP) to carry out a comprehensive mop-up of all arms, ammunition, AK-47 rifles, cutlasses, and other weapons in the possession of herders and individuals and to prohibit the public carrying of such arms and weapons. The House also asked the IGP, the… Read More
THISDAY
Tinubu Inaugurates 15-Member NEITI Board, Recommits To Removing Opacity In Extractive Industry
President Bola Ahmed Tinubu yesterday inaugurated the National Stakeholders Working Group (NSWG) of the Extractive Industries Transparency Initiative (NEITI), pledging to ensure transparency in Nigeria’s extractive sector. The president also reaffirmed Nigeria’s commitment to the implementation of the principles and Standard of the global… Read More
TECHNOLOGY HEADLINES
BUSINESSDAY
NCC Begins Public Inquiry To Review Critical Regulations
The Nigerian Communications Commission (NCC) has began a 2-day public inquiry aimed to review three regulatory instruments, including telecommunications networks interconnect regulations, guidelines for approval to disconnect telecommunications operators and dispute resolution. Aminu Maida, the Executive Vice Chairman of the commission… Read More