December 2024 – Page 21

Calas Vegas Carnival Band Emerges Winner Of Carnival Calabar 2024 Festival

30.12.2024

One of the bands popularly known as Calas Vegas Carnival has won the 2024 Carnival Calabar, Africa’s most prominent 12km street party in Cross River. The band that won in 2023 again won the contest after competing with six other bands, including Passion 4, Freedom, Bayside, Masta Blasta, and Seagull. The band has been announced...

Housing ministry budgets N3.5bn for debt settlement

30.12.2024

The Federal Ministry of Housing has revealed that it will spend N3.5bn to settle liabilities tied to the Millennium Development Goals, Sustainable Development Goals, Zonal Intervention Projects, and other direct mandate initiatives across the country. This financial intervention revealed in the 2025 Appropriation Bill is part of the Ministry’s broader commitment to resolving outstanding obligations...

Rivers govt awards N30bn Kalabari Road to J’Berger

30.12.2024

The Executive Governor of Rivers State, Siminalayi Fubara, has awarded the 19.7 km Kalabari Road Project to Julius Berger at the cost of N30 bn. Speaking at the flag-off ceremony, held recently in Port Harcourt, Fubara revealed that amid the seized revenue allocations of the state, his government has continued to initiate new projects and...

ACAN marks 20th anniversary

30.12.2024

The Association of Consulting Architects Nigeria, a professional body representing architectural firms engaging in private practices in Nigeria, recently celebrated its twenty years of existence with a book launch. In a statement by the association, it was noted that the celebration was aimed at propagating the architecture profession in Nigeria towards lifting the built environment...

Umahi commends work progress on Lagos-Calabar Highway

30.12.2024

The Minister of Works, David Umahi, has commended work progress on the Lagos-Calabar Coastal Highway Project. The minister described the project as a signature of excellence and innovation in road infrastructure development by the Renewed Hope administration of the president of Bola Ahmed Tinubu. Umahi made this commendation in a statement signed by the special...

Equity market records N472bn gain in shortened trading week

30.12.2024

The Nigerian equity market recorded a gain of N472bn during the shortened trading week, as the Federal Government declared Wednesday, December 25, and Thursday, December 26, 2024, public holidays for Christmas celebrations. The All-Share Index appreciated by 0.99 per cent, closing at 102,133.30 points, while the market capitalisation increased to N61.912tn. Investors traded a total...

Nigeria, others lose investments to inefficiencies – W’Bank

30.12.2024

The World Bank has said that inefficiencies in public spending are costing developing nations a significant portion of their investments. Nigeria is among the developing nations of the world. The global bank disclosed this in its report titled “How Can Developing Countries Power Up Public Investment?,” published on December 16, 2024. The report found that...

African Alliance, Guinea Insurance, others fined N74m

30.12.2024

Five insurance companies have been fined N74m by the Nigerian Exchange for defaulting on filing their financial reports when due. This was disclosed in the latest X-Compliance Report released by the local bourse on Friday. X-Compliance Report is a transparency initiative of NGX Regulation Limited designed to maintain market integrity and protect investors by providing...

Higher budget deficit may further depreciate naira – Fitch

30.12.2024

Fitch Ratings has warned that Nigeria’s efforts to stabilise its economy could face significant challenges if it fails to meet its fiscal deficit reduction targets. The global credit rating agency noted that a larger-than-expected budget deficit in 2025 could lead to further naira depreciation, higher inflation, and increased borrowing costs, ultimately threatening the government’s reform...

Nigerian Breweries promotes cultural heritage at Calabar Carnival

30.12.2024

Nigerian Breweries has reaffirmed its commitment to promoting the nation’s cultural richness and unity by sponsoring the 2024 Calabar Carnival and Festivals. Known as Africa’s largest cultural celebration, the festival is a vibrant showcase of art, music, dance, and diversity, attracting thousands of participants and visitors worldwide. This year’s theme, “Our Shared Prosperity,” highlights the...