BUSINESSPOST
Stock Investors Lose N56bn As Index Sheds 0.10%
The local bourse depreciated further by 0.10 per cent on Wednesday following persistent profit-taking by investors as attention shifted to the fixed-income market, where the Central Bank of Nigeria (CBN) auctioned some treasury bills at the primary market. This took out about N56 billion from the portfolios of stock investors at the midweek… Read More
NAIRAMETRICS
Sectors That Attracted The Most Foreign Investment In Nigeria 2024 Q2
In the first half of 2024, Nigeria’s total capital importation stood at $5.98 billion made up of $3.37 billion in the first quarter of the year and $2.60 billion in the second quarter. The total capital importation of $5.98 billion in the first half of 2024 represents an increase of 176% compared to the figure in the first half of 2023. In the first quarter of 2023… Read More
BUSINESSDAY
Federal Government Targets 2.3 Million Barrels Per Day Oil Production By 2025
The federal government has set a target to increase oil production per day to 2.3 million per day by mid-2025. Mohammad Badaru Abubakar, the minister of defence, announced this during a recent visit to the 6 Division Nigerian Army Barracks in Port Harcourt. Abubakar attributed the projected increase to the military’s efforts in combating crude… Read More
LEADERSHIP
Nigeria, Others Need $21bn For Electricity To Underserved By 2030
Most countries in Africa, especially Nigeria as well as other poor countries of the world would require investments of $21.3 billion by 2030 to be able to provide energy to a huge, underserved population. This is according to the Global Association for the off-grid solar energy industry, which said the sum is six times larger than what it has… Read More
ECONOMY HEADLINES
Federal Government Begins Implementation Of Zero VAT, Excise Duties On Pharmaceutical Products To Crash Prices
The Federal government has announced the commencement of zero Value Added Tax (VAT) on pharmaceutical products and medical devices in a bid to reduce drug prices in the country. In a statement signed by the Head of Information in the Federal Ministry of Health, Alaba. R. Balogun, noted that the Executive Order on harmonized… Read More
THISDAY
Federal Government Inaugurates NGEP/NBTE Working Group To Enhance LPG, LNG, CNG Training
The federal government yesterday inaugurated the National Gas Expansion Programme (NGEP)/National Board for Technical Education (NBTE) technical working group as well as the NGEP/Council of Registered Builders of Nigeria (CORBON) to boost the knowledge of gas across the country. Speaking at the event in Abuja, the Permanent… Read More
PUNCH
CBN, BOI To Empower Women Entrepreneurs
The Central Bank of Nigeria, Bank of Industry, and Development Bank of Nigeria have publicly declared their commitment to the Women Entrepreneurs Finance Code. This initiative aims to tackle the substantial N294bn funding gap currently affecting women-owned and women-led micro, small, and medium enterprises in Nigeria. Speaking… Read More
POLITICAL HEADLINES
Senate: States Must Comply Fully With Supreme Court Judgment On Council Autonomy
The Senate yesterday resolved that states and local governments must fully comply with the Supreme Court judgment on financial autonomy for councils. It also resolved to tinker with the Constitution to streamline its positions on local government administration in line with the July 11 judgment of the apex court. The decision came with its own drama… Read More
SUN
Representatives Task Federal Government On Food Security
The House of Representatives has urged the Federal Government to urgently implement the Exports (Prohibition) Act, 2004, to curb food smuggling and food insecurity in the country. The House also implored the Federal Ministry of Agriculture and Food Security to provide more incentives for farmers in the country to boost agriculture… Read More
TECHNOLOGY HEADLINES
PUNCH
United States Supports Nigerian Innovators With Incubation Hub
The United States government, through its Centres for Disease Control and Prevention, has launched the Federal Capital Territory Adolescents and Young People Technology Incubation Hub to support Nigerian innovators. This initiative is funded by the President’s Emergency Plan for AIDS Relief. According to a statement released on… Read More