BUSINESSPOST
Customs Street Sinks Deeper By 0.66% As Sell-Offs Persist
For another trading session, the Nigerian Exchange (NGX) Limited ended on a negative note with a 0.66 per cent loss on Tuesday. This decline was influenced by persistent selling pressure in large and mid-cap equities listed on Customs Street. Data from the bourse showed that Cadbury Nigeria finished as the worst-performing stock… Read More
THISDAY
Pencom Mandates PFAs To Suspend Investment In Commercial Papers
The National Pension Commission (PenCom) has directed licensed pension fund administrators (LPFAs) to suspend further investment in commercial papers with immediate effect. Commercial paper is a short-term debt instrument issued by corporations to finance inventory, accounts payable, payroll, and other short-term liabilities. In… Read More
No Respite For Businesses As Banking Sector Maximum Lending Rate Reached 30.21% In September
The tough operating business climate in Nigeria went a notch further in September as average maximum lending rate in the banking sector increased to 30.21per cent, which is another record high. Maximum rate is the upper limit of interest rates for loans provided to the sector, which might apply to higher-risk scenarios or different… Read More
THENATION
FCCPC Working To Address Service Disruption In Banks
The Federal Competition and Consumer Protection Commission (FCCPC) is actively working with relevant regulatory authorities, financial institutions, and stakeholders to address the disruption in the banking sector and ensure the protection of customers. In a statement signed by Executive Vice Chairman/ Chief Executive… Read More
ECONOMY HEADLINES
CBN To Use Any Tool To Fight Inflation – Cardoso
The governor of the Central Bank of Nigeria (CBN), Olayemi Cardoso has said, the apex bank is prepared to use any tool at its disposal to manage inflation which has continued to spiral northward. Inflation figures had risen to 32.7 per cent in September after receding for two months as price pressures have been exacerbated by the… Read More
VANGUARD
Cost Of Healthy Diet Resumes Upward Trend, Hits N1,346 In September
The Cost of a Healthy Diet, CoHD, resumed its upward trend rising by 7.2 percent to N1,346 per adult per day (papd) in September from N1,255/ papd in August. Details of data obtained from the National Bureau of Statistics CoHD report for September released yesterday showed that CoHD has risen for six consecutive months and declined… Read More
PUNCH
Delay In Zero VAT Reduces Manufacturers’ Revenue By 8% – MAN
Pharmaceutical manufacturers are hit with losses of up to eight per cent due to the Federal Government’s delay in implementing its zero-Value Added Tax policy designed to ease the cost of pharmaceutical raw material imports. The Pharmaceutical Manufacturers Group of the Manufacturers Association of Nigeria estimates that they lose up… Read More
POLITICAL HEADLINES
THENATION
Bill To Involve Armed Forces In Farming, Food Production Passed For Second Reading
The House of Representatives yesterday passed for the second reading a Bill to make the Armed Forces get involved in food production to boost food security and promote economic diversification in the country. The Bill, sponsored by Babajimi Benson (APC, Lagos), seeks to establish the Armed Forces Farms and Ranches to enhance… Read More
2025 Budget: Tinubu Submits MTEF To National Assembly Next Week – Senate Spokesman
President Bola Tinubu will submit the Medium Term Expenditure Framework and Fiscal Strategy Paper to the National Assembly next week, The PUNCH has learnt. The Senate, through its Finance Committee, is set to meet with key stakeholders in the finance sector, in preparation for the document’s submission. The MTEF, a legally… Read More
TECHNOLOGY HEADLINES
NAIRAMETRICS
Nigeria’s Broadband Penetration Plunges To 41.56% Amid National Plan Implementation
Broadband penetration in Nigeria declined to 41.56% in September even as the country intensifies efforts to achieve 70% through the implementation of the National Broadband Plan (NBP 2020-2025). This is according to the latest industry data released by the Nigerian Communications Commission (NCC). The number of Nigerians having… Read More