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Telecom tariff hike: Huge financial burden on Nigerians

16.01.2025
The tariff hike in Nigeria’s telecom sector has sparked widespread debate about its potential impact. While telecom operators argue that the increase is essential for business sustainability, many Nigerians fear it will worsen their already strained finances. TEMITOPE AINA writes Telecommunication tariffs in Nigeria have long been considered affordable, particularly when compared to other sectors...
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Nigeria may sell stake in Savé sugar company

16.01.2025
Nigeria’s Minister of State for Industry, Trade, and Investment, John Enoh, has announced that the Nigerian government may consider selling its equity stake in the Savé Sugar Company if efforts to find a suitable investor to revive the struggling facility do not materialise. Enoh stated this in a statement on Wednesday, following his visit to...
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Real estate firm revenue rises to N783.88m

16.01.2025
SFS Real Estate Investment Trust Fund has reported a growth in its revenue reserve, which increased by 32 per cent to N783.88m in December 2024, up from N593.57m recorded in December 2023. The fund’s total income for the year was N554.91m, representing a rise from N395.42m in 2023. The growth in income was driven by...
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NNPCL remitted N10tn in 2024 – Kyari

16.01.2025
The Nigerian National Petroleum Company Limited has announced that it remitted N10 trillion to the Federation Account as of September 2024. NNPCL Group Chief Executive Officer, Mele Kyari, revealed this during a budget defence session before the Joint Committee of the Senate and House of Representatives in Abuja on Wednesday. He explained that the N10tn...
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FCMB appoints executive director

16.01.2025
First City Monument Bank has announced the appointment of Felicia Obozuwa as the Executive Director of Corporate Services and Service Management, following approval from the Central Bank of Nigeria. In a statement made available to The PUNCH on Wednesday, it was indicated that Obozuwa brings nearly three decades of experience to her new appointment. “Her...
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Equity market posts N930bn loss

16.01.2025
At the close of Wednesday’s trading session on the Nigerian Stock Exchange, the equity market experienced a decline, losing N930.62bn, which marks the third consecutive loss in the market. On Tuesday, the Nigerian Stock Exchange witnessed a bearish performance at the close of trading, with the market capitalisation declining by N1.06tn, marking a drop in...
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Shallow structure stifling market growth – Proshare

16.01.2025
Analysts at Proshare have raised concerns about the shallow structure and limited breadth of Nigeria’s capital market, warning that these factors continue to hinder its growth and potential to drive economic development. According to a report on Wednesday titled ‘Nigeria’s Capital Market Outlook 2025: The Capital Market and the Quest for a $1 trn Economy,’...
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17 companies grow market cap to N11tn

16.01.2025
A total of 17 companies across various sectors have achieved a combined market capitalisation of approximately N11.22tn on the Nigerian Stock Exchange, with contributions from leading players in the consumer goods, food, and personal household products sectors. Golden Guinea Brewery PLC reported a market capitalisation of N8.85bn, with a share price of N8.64, holding steady...
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34.8% inflation rate triggers fears of rising prices, hardship

16.01.2025
The Organised Private Sector has expressed worry over the continued hike in the inflation rate in Nigeria, stressing that this will further raise the cost of production, raw materials, logistics, and machinery, among others. On Wednesday the National Bureau of Statistics reported that Nigeria’s inflation rate rose to 34.80 per cent in December 2024, reflecting...
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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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