PUNCH
Equity Market Sustains Bullish Run As Investors Gain N259bn
The equity market extended its rally to the fourth consecutive trading day as investors gained about N259bn on Thursday. The benchmark index and the market capitalisation of the Nigerian Exchange appreciated by 0.46 per cent to close at 99,276.03 points and N56.16tn, respectively. On Wednesday, investors gained about N246bn… Read More
BUSINESSDAY
Nigerian Drugmakers See 58% Revenue Rise As Prices Soar
The combined revenue of three listed pharmaceutical companies in Nigeria rose by 58 percent within a year amid the surging prices of drugs. The latest financial statements of Fidson Healthcare Plc, May & Baker Nigeria Plc, and MeCure Industries Plc show that their total revenue grew to N33.4 billion in the first quarter of 2024 from N21.13… Read More
THISDAY
2024 Hajj Operation: Pilgrims, Stakeholders Commend FAAN Over Its Smooth Conduct
Pilgrims, stakeholders airline operators have commended the Federal Airports Authority of Nigeria (FAAN) over the successful commencement of the 2024 airlift of pilgrims to the Holy Land, Saudi Arabia. The stakeholders said that at all the airports the airlifting is taking place, there is absence of hiccups that characterized the exercise in the previous… Read More
SUN
Liquidity Challenges Persist As Naira Sustains Descent At NAFEM
Amid liquidity challenges which has continued to affect the FX market, the Naira continued its descent, depreciating by 10.5 per cent to close at N1,484.75/$1 at the Nigerian Autonomous Foreign Exchange Market (NAFEM) on Thursday. This is coming after financial experts had suggested that the Central Bank of Nigeria (CBN) appears to be… Read More
ECONOMY HEADLINES
SUN
Prices Of Goods May Crash As Federal Government Proposes N800/1$ Customs Duty Rate
Soothing news broke yesterday within the import community, as the presidential committee on fiscal policy and tax reforms has proposed N800/$1 as a suitable exchange rate for computing Customs import duty payments, urging the federal government to embrace it. Taiwo Oyedele, chairman of the committee, stated this in Lagos on Thursday… Read More
THENATION
Federal Government Secures $500m World Bank Loan For Discos
The Federal Government has secured $500million loan from the World Bank to improve electricity Distribution Companies (DisCo) per-formance. This was contained in a press statement the Bureau of Public Enterprises (BPE), Head, Public Communication, Amina Tukur Othman, issued yesterday. She said approved on February 4, 2021, by… Read More
THISDAY
Lokpobiri: Federal Government Not Paying Fuel Subsidy, But NNPCL Can Intervene Routinely’
Minister of State, Petroleum (Oil), Senator Heineken Lokpobiri, has attempted to clear the doubts expressed by oil and gas operators, economists, as well as officials of global organisations that Nigeria has continued to subsidise petrol, despite President Bola Tinubu’s declaration to the contrary on May 29, 2023. Among those that insisted that… Read More
POLITICAL HEADLINES
SUN
Local Government Autonomy: Supreme Court Gives State Governors 7 Days To Defend Suit
The Supreme Court yesterday gave the 36 states governors seven days to file their defence in the suit instituted against them by the Federal Government over alleged misconduct in the handling of local government affairs. A seven-member panel of the apex court led by Justice Garba Lawal equally gave the Attorney General of the Federation two days to… Read More
THENATION
Tinubu Assures Armed Forces, Intelligence Agencies Of Support
President Bola Ahmed Tinubu has restated his administration’s commitment to the welfare of members of the Armed Forces and intelligence agencies. He expressed optimism that Nigeria will prevail over the myriads of security challenges facing it. Speaking yesterday at the inauguration of the Headquarters of the Defence Intelligence Agency (DIA)… Read More
TECHNOLOGY HEADLINES
NAIRAMETRICS
Federal Government Targets 70% Digitalization Of Government Services By 2025
The Federal Government has said it expects to achieve 70% digitialization of government services by 2025 in collaboration with the private sector. The Managing Director of Galaxy Backbone (GBB), Prof. Ibrahim Adeyanju, stated this at the one-day ‘1Government Cloud Digitalisation’ Retreat for federal Ministries, Departments, and Agencies… Read More