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Business confidence jumps as output rises second month

04.02.2025
Confidence in the business environment in Nigeria is on the rise, as reflected in increased output for the second consecutive month, the latest Purchasing Managers’ Index from Stanbic IBTC Bank Nigeria on Monday has indicated. The headline PMI posted 52.0 in January, down from 52.7 in December but still above the 50.0 no-change mark and...
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N200bn/monthly electricity subsidy benefits rich Nigerians

04.02.2025
The Federal Government has said it spends N200bn to subsidise electricity monthly. According to the government, this amount benefits the wealthiest 25 per cent of Nigerians rather than those who truly need assistance. The Special Adviser to President Bola Tinubu on Energy, Olu Verheijen, stated this in a statement on Monday. Verheijen is reacting to...
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Nigeria to benefit from €150bn EU initiative – Official

04.02.2025
Nigeria is expected to be a key beneficiary of the European Union’s pledge to support infrastructural development through its Global Gateway initiative, which will disburse €150bn across Africa by 2027. According to a statement, the Head of Cooperation, EU Delegation to Nigeria and Economic Community of West African States, Massimo De Luca, at a media...
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Eight listed companies incur N8.67tn debt – Report

04.02.2025
As of December 2024, eight Nigerian companies have seen an increase in their liabilities, reaching a total of N8.67tn. This marks a rise in debt levels, driven by both non-current and current liabilities across several sectors, The PUNCH reports. Current liabilities are a company’s short-term financial obligations that are due within one year or within...
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Exchange rate appreciates by N63 to seven-month high

04.02.2025
Nigeria’s exchange rate appreciated significantly in January 2025, gaining N63.72 against the dollar to close at N1,474.78 per dollar on January 31 at the Nigerian Foreign Exchange Market. According to data from the FMDQ Securities Exchange Limited and the Central Bank of Nigeria, this increase of 4.14 per cent pushes the local currency to the...
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Why young Nigerians struggle to own homes – Kennedy Okonkwo

04.02.2025
Renowned real estate developer and entrepreneur, Dr. Kennedy Okonkwo, has highlighted the major reasons young Nigerians struggle to own homes, citing high property costs, poor mortgage systems, and financial mismanagement as key barriers. In an exclusive interview with Steven Ndukwu and sighted by PUNCH Online on Monday, Okonkwo, who built his real estate empire through...
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LAPO MFB receives $200,000 grant for WASH initiative

04.02.2025
LAPO Microfinance Bank has received a $200,000 grant from Water.org to advance its water, sanitation, and hygiene programmes in Nigeria. In a statement made available to The PUNCH on Monday, it was revealed that the grant would enable the MFB to empower underserved communities by improving access to clean water, sanitation facilities, and hygiene solutions,...
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Eunisell H2 profit hits N267m

04.02.2025
Eunisell Interlinked Plc has reported a profit before tax of N267m for the six months ending December 31, 2024, marking a turnaround from a loss of N13m in the same period of 2023. The disclosure was made in a statement on Monday, in which the company said revenue rose 961 per cent to N974m in...
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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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