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Caverton Reports N2.09bn Profit, Reverses Prior Loss

02.08.2025
Caverton Offshore Support Group Plc has reported a profit before tax of N2.09bn for the half-year period ending June 30, 2025, reversing a loss recorded in the same period last year. The group’s revenue stood at N16.1bn, down from N18.8bn in the first half of 2024. However, gross profit increased to N9.0bn from the N2.9bn...
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Nigeria to Boost Oil Output with 810,000bpd from Deepwater F

02.08.2025
The Federal Government has unveiled plans to unlock an additional 810,000 barrels of crude oil per day from Nigeria’s deepwater oil fields through a new cluster and nodal development initiative, The PUNCH reports. The initiative, championed by the Nigerian Upstream Petroleum Regulatory Commission, is part of a broader effort to revive the country’s offshore oil...
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NLC Slams Ride-Hailing Firms Over Safety, Commissions

02.08.2025
The Nigeria Labour Congress has renewed its demand for stronger regulation of international ride-hailing firms, accusing Uber and Bolt of exploiting local drivers through high commissions, poor safety standards, and non-transparent fare structures. The NLC, in collaboration with the Amalgamated Union of App-Based Transporters of Nigeria, issued the call at a press conference in Lagos...
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Naira Falls to ₦1,533.55/$ in July

02.08.2025
The naira closed out July 2025 at N1,533.55/$ at the official market, the Nigerian Foreign Exchange Market, data from the Central Bank of Nigeria revealed on Thursday. This is about 0.25 per cent weaker than the 1,529.71/$ that it had closed in June, indicating improved stability in the foreign exchange market. In the middle of...
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BUA Foods Posts Record N912.5bn Revenue in H1 2025

02.08.2025
BUA Foods Plc has disclosed a financial performance for the six months ended June 30, 2025, with revenue rising to N912.5bn from N672.4bn recorded in the same period last year. In the company’s unaudited financial statement filed with the Nigerian Exchange Limited on Wednesday, the company’s cost of sales increased to N573.2bn from N454bn in...
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Nigerian Stock Exchange Soars N12.62tn in July

02.08.2025
The Nigerian Exchange closed the month of July 2025 on a bullish note, recording a significant N12.62tn gain in market capitalisation. The All-Share Index appreciated by 0.42 per cent on the last trading day of the month to settle at an all-time high of 139,863.67 points, up from the previous close of 139,278.67 points. This...
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CBN Agric Loan Scheme Fails to Impress Nigerian Farmers

01.08.2025
The National President of the All Farmers Association of Nigeria, Kabir Kebram, has described the Central Bank of Nigeria’s Anchor Borrowers’ Programme as a failed intervention. Speaking on the controversial agricultural financing scheme, Kebram said AFAN had distanced itself from the programme from the onset after evaluating its sustainability and structure. “As AFAN, we did...
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Nigeria’s FX Revenue Crashes 73% in H1 2025

01.08.2025
Revenue from foreign exchange rate gains crashed by 73 per cent in the first half of 2025, falling to N589.45bn from N2.199tn recorded in the same period of 2024, signalling a major shift in Nigeria’s fiscal structure as arbitrage opportunities continue to dry up. The data, obtained from the Federation Account Allocation Committee, shows a...
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FG Backs Local EV Manufacturing in Nigeria

01.08.2025
The Federal Government has fully supported Nigeria’s emerging electric vehicle industry, restating its commitment to driving local manufacturing, economic expansion, and job creation. According to a statement, the Minister of Industry, Trade and Investment, Jumoke Oduwole, affirmed the government’s support during a visit to the Saglev Incorporated EV assembly plant in Lagos on Wednesday. Oduwole...
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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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