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Nigeria & Others Face $8.9tn Historic Debt

05.01.2026
Developing countries, including Nigeria, are facing a historic debt squeeze, with total external liabilities reaching $8.9tn in 2024, according to the World Bank’s latest 2025 International Debt Report. Between 2022 and 2024, these nations paid $741bn more in principal and interest than they received in new financing, the largest shortfall in at least 50 years,...
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Private Depots Raise Petrol Price to N800/Litre in Lagos

05.01.2026
Private petroleum depots across Lagos and other key fuel trading hubs have raised the ex-depot price of Premium Motor Spirit (petrol) to as high as N800 per litre, Sunday PUNCH has observed. Data obtained from petroleumprice.ng on Friday showed that the average cost of petrol at private depots increased sharply within 48 hours, tightening margins...
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Customs Agents Threaten Protests Over Shipping Fare Hikes

05.01.2026
Barring last-minute changes, licensed customs agents operating in the nation’s maritime sector may picket some shipping companies today (Monday) over the planned increase in their fares, The PUNCH reports. The agents, who spoke with our correspondent via telephone on Sunday, stated that it is too early in the year to start increasing fares, adding that...
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Nigeria Tax Reform Could Criminalise 40m Businesses

05.01.2026
The Centre for the Promotion of Private Enterprise has warned that Nigeria’s tax reform could unintentionally criminalise as many as 40 million informal businesses if implemented without careful sequencing and adequate support. This was disclosed in a policy document signed by the CPPE’s Chief Executive Officer, Dr Muda Yusuf. The PUNCH reports that the implementation...
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NGX All-Share Index Rises 1.92% in a Strong Trading Week

05.01.2026
The Nigerian Exchange recorded a strong performance last week, with the All-Share Index appreciating by 1.92 per cent to close at 156,492.36 points, while market capitalisation rose by 2.09 per cent to N99.938tn. Trading spanned four days as the Federal Government declared Thursday, 1 January 2026, a public holiday to mark the New Year. Investors...
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Shareholders Hail Dangote Refinery’s Economic Impact

05.01.2026
Shareholders have credited the Dangote Petroleum Refinery with improving Nigeria’s economic stability and easing fuel scarcity, saying the $20bn facility has delivered far-reaching benefits to the economy and the welfare of citizens. In a statement on Sunday, shareholders said the commencement of operations at the Dangote refinery marked a turning point for Nigeria’s downstream petroleum...
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Sovereign Trust Insurance Appoints New MD/CEO

05.01.2026
Sovereign Trust Insurance has named Dr Lucas Durojaiye as its new Managing Director and Chief Executive Officer, succeeding Mr. Olaotan Soyinka, who retired from the position in December 2025. This was disclosed in a corporate filing on the Nigerian Exchange Limited, signed by the Deputy General Manager, Corporate Communications & Investor Relations, Segun Bankole. The...
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FirstBank to host economic outlook event for 2026

05.01.2026
FirstBank is set to host its annual economic outlook event for 2026. In a statement, the bank announced that the Nigeria Economic Outlook 2026 will take place on Tuesday under the theme “The Great Calibration: Mastering Resilience in an Era of Asynchronous Growth.” The PUNCH reports that the event is an annual customer-facing session designed...
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NNPC subsidiaries’ debt soars to N30tn, a 70% increase

05.01.2026
Despite its transition into a commercial entity, the Nigerian National Petroleum Company Limited is grappling with mounting financial pressure as unviable and underperforming subsidiaries deepen inter-company indebtedness, pushing outstanding obligations owed to the company to N30.30tn. Latest findings from NNPC’s 2024 audited financial statements showed that debts owed by subsidiaries, joint ventures, and other related...
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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
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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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