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Nestlé pays $20m forex debt

28.02.2025
Nestlé Nigeria Plc has made an early repayment of $20m in inter-group foreign exchange debt. In a release filed on the Nigeria Exchange on Thursday, the repayment, which was made ahead of schedule, comes as the company continues to navigate the impact of currency devaluation, inflation, and rising finance costs, which have affected its financial...
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Equity market reverses gain with N77bn loss

28.02.2025
The Nigerian equity market reversed its previous gains, recording a N77bn loss at the close of trading on Tuesday as investor sentiment weakened. The market capitalisation of the Nigerian Exchange Limited declined to N67.02tn from N67.1tn recorded in the previous session, reflecting a 0.11 per cent decline. Similarly, the All-Share Index shed 123.53 points to...
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High operating cost, threat to telecom sector

28.02.2025
The rising operational costs and the risk of a customer loyalty crisis are posing significant challenges to Nigeria’s telecommunications sector. In this interview with TEMITOPE AINA, Managing Director/Chief Executive Officer of Briclinks Africa Plc, Mohammed Buhari, discusses the impact of the recent 50 per cent tariff increase approved by the Nigeria Communications Commission How is...
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NIMASA investigates barge explosions in Rivers community

28.02.2025
A series of barge explosions recently occurred in Rivers State, causing significant pollution and affecting fishing communities near Cawthorne Channel 1 and Alakiri Kulama. The Head of Public Relations at the Nigerian Maritime Administration and Safety Agency, Mr. Osagie Edward disclosed this in a statement on Wednesday. He explained that a preliminary report from the...
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FG seeks collaboration with Gambia on maritime security

28.02.2025
The Minister of Marine and Blue Economy, Adegboyega Oyetola, has expressed Nigeria’s desire to strengthen maritime collaboration with the Gambia to enhance regional security and economic growth. In a statement over the weekend by the Head of Public Relations at the Nigerian Maritime Administration and Safety Agency, Osagie Edward, the minister made this declaration at...
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Move Afrika’s expansion to Nigeria impactful

28.02.2025
The Co-Founder/Chief Executive Officer of Global Citizen, Hugh Evans, has said that the expansion of the music touring circuit, Move Afrika, to Lagos has boosted its impact. According to a statement from the pan-African outfit, the show’s headlining artiste, John Legend, performed to a packed audience in the Victoria Island area of Lagos on Tuesday....
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Why IOCs can’t allocate enough crude to refiners – FG

28.02.2025
The Minister of State for Petroleum Resources (Oil), Senator Heineken Lokpobiri, has revealed the reason why International Oil Companies are finding it difficult to allocate crude to domestic refiners, including the Dangote Petroleum Refinery under the Domestic Crude Oil Supply Obligation framework. He said a pre-production agreement signed by most IOCs to secure offtake of...
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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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