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Nigeria gets W’Bank $1.5bn for subsidy removal, tax bills

The World Bank has fully disbursed a $1.5bn loan to Nigeria following the Federal Government’s implementation of key reforms, including removing fuel subsidies and introducing comprehensive tax policies, The PUNCH reports. The loan, part of the Reforms for Economic Stabilisation to Enable Transformation Development Policy Financing initiative, is among the fastest disbursements Nigeria has received...
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Telcos threaten service cuts over rising costs

Telecommunications operators in Nigeria have warned that service disruptions are imminent unless tariffs are adjusted to account for escalating operational costs. The Chairman of the Association of Licensed Telecommunications Operators of Nigeria, Gbenga Adebayo, issued the warning in a statement on Monday. Adebayo described the telecom sector as “under siege,” citing soaring operational costs driven...
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Anxiety over Kyari’s tenure as NNPC GMD

There is growing anxiety over the expiration of the tenure of the Group Chief Executive Officer of the Nigerian National Petroleum Company Limited, Mele Kyari, and the possible appointment of a new helmsman to direct the affairs of the oil giant. Some industry watchers believe that the NNPCL boss, who turns 60 on January 8,...
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AfreximBank advocates empowerment opportunities for youths

The African Export-Import Bank has intensified the push for more empowerment opportunities for youths in Africa, insisting that the future and relevance of the continent in global socio-economic discussions lies in its youths. President of the Bank, Benedict Okey Oramah, stated this at the 5th edition of the youth summit organised by Grand Africa Initiative,...
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Nigeria, others face education funding gap – W’Bank

Sub-Saharan African countries, including Nigeria, are grappling with a substantial education funding gap, spending an average of only $54 per student, compared to $8,500 in high-income countries. This finding was revealed in the World Bank’s biannual Africa Pulse Report for November. The report underscored the stark disparity in education spending between Sub-Saharan Africa and wealthier...
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Govt opens Renewed Hope Housing bid in 17 states

The Federal Government has announced that bids for the Renewed Hope Housing projects, which span 17 states across the country, have been opened. This was disclosed in a statement on the Federal Housing Authority’s website. it stated, “Following the submission of tenders for the Renewed Hope Housing projects slated for December 30, 2024, and in...
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Real sector’s growth declined in 2024 – Report

“The real estate sector’s GDP growth rates in 2024 were relatively subdued, recording 0.84 per cent in Q1, 0.75 per cent in Q2, and 0.68 per cent in Q3. These figures lagged behind the national GDP growth rate for each quarter, underscoring the sector’s challenges,” a report by BuyLetLive read. According to the report, despite...
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FG concludes probe into five aviation accidents – Report

The Federal Government, through the Nigerian Safety Investigation Bureau, has concluded investigations into five air accidents and incidents that occurred in 2024. According to the reports released by NSIB at different times in 2024 and accessed by The PUNCH on Sunday, the accidents involved various airlines and aircraft types, including the Nigerian College of Aviation...
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I apologise for saying no heaven without tithe – Adeboye

The General Overseer of the Redeemed Christian Church of God, Pastor Enoch Adeboye, has apologised for saying that Christians who don’t pay tithe might not make it to heaven. Adeboye who had previously said that paying tithe was one of the prerequisites for going to heaven, apologised for the comment while addressing his congregation Thursday...

Protesters storm Rivers electoral commission, insist election must hold

Angry protesters on Friday stormed the office of the Rivers State Independent Electoral Commission, singing and chanting ‘Election must hold’. They defied the heavy rainfall spreading canopies, while singing and drumming, with one side of the road blocked. The protest came after the Rivers State governor stormed the RSIEC in the early hours of Friday...

Man who asked Tinubu to resign admitted in psychiatric hospital

The Adamawa State Police Command has disclosed that the 30-year-old Abdullahi Mohammed who climbed a 33 kv high tension electricity pole in Mayo-Belwa last Friday has been admitted at the Yola Psychiatric hospital for mental examination. The Police Public Relations Officer of the command SP Suleiman Nguroje, told Arewa PUNCH on Friday in an exclusive...