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BUA Foods suffers N188.7bn FX loss

31.01.2025
BUA Foods has reported a foreign exchange loss of N188.7bn for the year ended December 31, 2024. According to the company’s statement of profit or loss and other comprehensive income filed on the Nigerian Exchange Limited on Thursday, the loss was attributed to the volatility in the foreign exchange market, which has been a key...
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Police, NAICOM inaugurate committee on compulsory insurance

31.01.2025
The National Insurance Commission and the Nigeria Police Force have inaugurated a joint committee on enforcement of compulsory insurance laws. The joint committee was inaugurated at NAICOM’s headquarters in Abuja on Thursday, a statement from the regulator said. It revealed that the move is aimed at strengthening insurance compliance in the country and the announcement...
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NLC proposes 5% telecoms tariff hike, insists on protest

31.01.2025
The Nigeria Labour Congress has again rejected the 50 per cent telecom tariff hike approved by the Nigerian Communications Commission, proposing a five per cent increase instead. The country’s labour union also reaffirmed its plan to proceed with a nationwide protest on Tuesday, February 4, 2025, to express its opposition to the tariff adjustment. NLC...
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NNPC, marketers import 633m litres of fuel

31.01.2025
The Nigerian National Petroleum Company Limited and other marketers in the downstream oil sector imported more than 633 million litres of Premium Motor Spirit (petrol) and Automotive Gas Oil (diesel) in January 2025 despite the production of these commodities domestically. The latest industry data on the importation of PMS and AGO by these firms indicated...
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FG eyes 150 CNG stations in 2025

31.01.2025
The Federal Government says it plans to have no fewer than 150 Compressed Natural Gas stations before the end of 2025. The Programme Director and Chief Executive of the Presidential CNG Initiative, Michael Oluwagbemi, stated this on Thursday during the groundbreaking ceremony of five mini-liquefied natural gas plants in Kogi by the Nigerian National Petroleum...
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FG unveils $23bn programme to tackle power crisis

31.01.2025
In its bid to close the electricity gap in Nigeria, the Federal Government has unveiled an ambitious energy access programme to transform Nigeria’s energy sector. It said the programme will require $23.2bn, out of which $15.5bn will be provided by the private sector. A statement by the spokesperson to the Minister of Power, Bolaji Tunji,...
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NNPCL begins construction of five LNG plants in Kogi

31.01.2025
The Nigerian National Petroleum Company Limited has flagged off the construction of five mini Liquefied Natural Gas plants in Ajaokuta, Kogi State, saying it was part of its commitment to driving the country’s gas revolution. The initiative, aimed at expanding Nigeria’s domestic gas utilisation, is expected to boost energy access, support industrialisation, and create job...
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CBN policies prevented 42.81% inflation in 2024 – Cardoso

31.01.2025
The Governor of the Central Bank of Nigeria, Olayemi Cardoso, has said that without the bank’s policy interventions, inflation would have surged to 42.81 per cent by December 2024. He also projected that diaspora remittances would rise to N31.79tn when fourth-quarter figures for 2024 are released. The apex bank’s boss further pledged to stick to...
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I apologise for saying no heaven without tithe – Adeboye

04.10.2024
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

04.10.2024
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

04.10.2024
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...

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