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Investments in manufacturing sector crashed by 35% – MAN

25.04.2025
A report by the Manufacturers Association of Nigeria has revealed that investments in the manufacturing sector contracted by 35.3 per cent in 2024. The sector endured a sharp contraction in real investment in the past year, as finance costs of N1.3tn elevated by the country’s harsh macroeconomic environment forced manufacturers to scale back expansion plans....
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Recyclers fume as coloured plastics hurt business

25.04.2025
Recyclers have raised concerns over the continued use of coloured plastics by manufacturers, lamenting that the packaging materials are hurting their operations, leading to business loss. Speaking at the second Eko Waste Summit held in Lagos on Thursday, President of the Lagos Recycling Association, Dr Femi Idowu-Adegoke, decried the reluctance of some manufacturers to adopt...
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LCCI, CPPE advise businesses to revise growth strategy

25.04.2025
Private sector operators have called on businesses to urgently revise their outlook for 2025 as the global economy reels from the ongoing tariff war, while internal insecurity threatens to derail growth forecasts. This warning follows the country’s economic expansion for the third consecutive month in March, according to the latest Purchasing Managers’ Index released by...
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10 banks pay N987bn tax to FG

25.04.2025
Ten commercial banks in Nigeria paid a combined N987.40bn in corporate income tax to the Federal Government in the 2024 financial year, The PUNCH reports. This sum was disclosed in the banks’ consolidated and separate financial statements for the year ended December 31, 2024, on the Nigeria Exchange Limited. An analysis of the financial statements...
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Lafarge Africa grows Q1 profit to N48.64bn

25.04.2025
Lafarge Africa Plc has reported a surge in its financial performance for the first quarter of 2025, posting a profit after tax of N48.64bn, a massive 837 per cent increase from N5.19bn recorded in the same period last year. In its financial report released on the Nigeria Exchange Limited on Thursday, the company’s revenue for...
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Dangote accepts World Bank appointment

25.04.2025
The President and Chief Executive of the Dangote Group, Aliko Dangote, says he has accepted his appointment to the World Bank’s Private Sector Investment Lab, joining a select group of global business leaders tasked with driving investment and job creation in emerging economies. In 2023, the Prime Minister of Canada, Mark Carney, co-chaired the Private...
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Reps vow to tackle outdated maritime laws

25.04.2025
The House of Representatives Committee on Maritime Safety, Education, and Administration has pledged full legislative backing to modernise maritime laws and boost Indigenous vessel ownership. The Deputy Chairman of the Committee, Uduak Odudoh, stated this on Wednesday during an oversight visit to the Nigerian Maritime Resource Development Centre in Kirikiri, Lagos. Odudoh acknowledged concerns raised...
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OPay extends N1.2bn 10-year scholarship to Kwara State Polytechnic

25.04.2025
OPay, one of Nigeria’s leading financial institutions, has expanded its 10-year scholarship initiative to Kwara State Polytechnic, marking a milestone in the company’s long-term commitment to supporting education across Nigeria. In a statement made available to The PUNCH by the firm on Wednesday, the partnership will see 20 outstanding students from the institution benefit from...
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Rice most seized commodity in Q1 – Customs

25.04.2025
The Nigeria Customs Service has said that with 159 cases involving 135,474 bags valued at N939m, rice remained the most prevalent commodity seized by the service in the first quarter of 2025. The Comptroller-General of Customs, Adewale Adeniyi, stated this in Abuja while briefing journalists on the service’s activities in the first quarter of the...
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I apologise for saying no heaven without tithe – Adeboye

04.10.2024
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Man who asked Tinubu to resign admitted in psychiatric hospital

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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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