January 2025 – Page 7

Pipeline vandalism reduces gas exports by 20% – Report

31.01.2025

Nigeria’s exports of liquefied natural gas saw a significant decline of 20 per cent last week, following an attack by suspected vandals who damaged crucial pipelines. is disruption severely affected gas supplies to the country’s LNG plants, leading to a sharp reduction in production and exports, a report by Bloomberg stated on Thursday. The hit...

FG to spend N1.1bn on mini-grids

31.01.2025

As the country battles incessant grid collapses, the Federal Government is in talks with both local and foreign financial institutions to secure $1.1bn for the construction of renewable mini-power grids. The Managing Director/Chief Executive Officer of the Rural Electrification Agency, Abba Aliyu, disclosed this during the just-concluded Mission 300 Africa Energy Summit in Dar es...

Stakeholders to discuss Nigeria-US business relations at summit

31.01.2025

The Nigerian-American Chamber of Commerce is set to hold a summit to shape the future of business relations between Nigeria and the United States in 2025. The NACC in a statement said the event scheduled to be held in February in Lagos will serve as a platform for economic discussions and cross-border trade engagement. Themed...

Minister decries low gas utilisation

31.01.2025

Minister of State Petroleum Resources (Gas), Ekperikpe Ekpo, has lamented the low natural gas utilisation among Nigerians, urging Seplat Energy Producing Nigeria Unlimited to accelerate its natural gas delivery efforts for domestic use and export. The minister lamented Nigeria’s “paradoxical situation” as a major gas-endowed nation with alarmingly low natural gas utilisation. According to him,...

Cashless economy deepens as electronic transactions hit N1.08qd

31.01.2025

The value of electronic transactions in Nigeria in 2024 rose by 79 per cent compared to the previous year to a record high of N1.08qd (quadrillion) This is according to the latest data from the Nigeria Inter-Bank Settlement System on the value of NIBSS Instant Payments. The NIBSS Instant Payments is an account-number-based, online real-time...

Outstanding $7bn FX cleared, says Cardoso

31.01.2025

Governor of the Central Bank of Nigeria, Olayemi Cardoso, announced on Wednesday that the Federal Government has cleared the outstanding $7bn foreign exchange backlog to various firms following a successful verification exercise by forensic auditors. Cardoso disclosed this at the launch of Nigeria’s Regulatory Policy Framework organised by the Presidential Enabling Business Environment Council. The...

Dubai airport recorded 92.3 million passengers in 2024 — CEO

31.01.2025

A record 92.3 million passengers travelled through Dubai’s international airport last year, its operator said on Thursday, extending a post-pandemic tear that exemplifies the city’s economic boom. The figure surpassed the previous high of 89.1 million in 2018, Dubai Airports said, despite regional tensions caused by the Gaza war and last April’s unprecedented floods that...

Inflation could have hit 42.81% without policy interventions – CBN

31.01.2025

The Central Bank of Nigeria has said that without its policy interventions, inflation could have surged to 42.81 per cent by December 2024. It also projected that diaspora remittances would rise to N31.79tn when fourth-quarter figures for 2024 are released. Going forward, the apex bank has pledged to stick to orthodox monetary policies to tame...

MRS Oil reports N1.29bn FX loss despite strong revenue growth

31.01.2025

MRS Oil Nigeria Plc on Thursday, reported a foreign exchange loss of N1.29bn in its audited financial statements for the year ended December 31, 2024, reflecting the impact of currency fluctuations on its operations. Despite this, the company recorded a 71.3 per cent increase in revenue to N312.23bn from N182.31bn in 2023. The oil marketing...

FBN Holdings reports N738.9bn profit as revenue soars

31.01.2025

FBN Holdings Plc recorded a 138 per cent increase in profit for the 2024 financial year, rising to N738.9bn from N310.4bn reported in 2023. The group’s financial statement, released on the Nigerian Exchange Limited, showed that profit before tax rose by 142 per cent to N862.4bn, compared to N356.1bn in the previous year. Interest income...

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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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Latest News

Pipeline vandalism reduces gas exports by 20% – Report

FG to spend N1.1bn on mini-grids

Stakeholders to discuss Nigeria-US business relations at summit

Minister decries low gas utilisation

Cashless economy deepens as electronic transactions hit N1.08qd

Outstanding $7bn FX cleared, says Cardoso

Dubai airport recorded 92.3 million passengers in 2024 — CEO

Inflation could have hit 42.81% without policy interventions – CBN

MRS Oil reports N1.29bn FX loss despite strong revenue growth

FBN Holdings reports N738.9bn profit as revenue soars

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