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UN eyes 2.8% global economic growth in 2025

The global economy, despite being battered by inflationary pressures and geopolitical conflicts in recent years, is forecast to grow at a subdued rate of 2.8% in 2025, according to the United Nations. The projection, released in the “World Economic Situation and Prospects 2025” report on Thursday, underscores the resilience of major economies while highlighting ongoing...
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Unions propose 70% IGR retention by aviation agencies

The Federal Government has finally addressed the concerns raised by aviation unions about deducting 50 per cent of aviation agencies’ Internally Generated Revenue. Impeccable sources at the Federal Ministry of Finance revealed that the Federal Government recently met with the aviation unions on the concern, which had lingered for months. At the meeting, our correspondent...
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E-hailing drivers beg FG for centralised regulation

E-hailing drivers, under the aegis of the Amalgamated Union of App-based Transporters of Nigeria, have called for a federal government framework to regulate the business across the country that will take care of the interests of drivers. These drivers under the umbrella of AUATON said the situation app companies have been the ones ‘enjoying the...
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Stakeholder proffers measures to tackle pilot shortage

A seasoned helicopter pilot, Okechukwu Onuchukwu, has stressed the need for the enhancement of pilot training pipelines, outlining several strategies to address the issue and ensure a sustainable future for the aviation industry. Onuchukwu made this observation during an interview with The PUNCH correspondent against the backdrop of the aviation industry grappling with a growing...
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AI puts 92 million jobs at risk globally —Report

A recent World Economic Forum report has predicted that advancements in artificial intelligence will displace 92 million jobs, representing eight per cent of the global workforce, by 2030. The report reveals that 41 per cent of employers worldwide expect workforce reductions as AI automates tasks, with roles like graphic designers and legal secretaries among the...
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IPMAN seeks govt support to deploy CNG stations

The Independent Petroleum Marketers Association of Nigeria has sought the Federal Government’s financial backing to upgrade their stations to refuelling points for Compressed Natural Gas. IPMAN said its members would need more funds to make CNG available in their filling stations, saying the business is capital-intensive. In an interview with The PUNCH, the National Vice...
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11 banks market capitalisation hit N7.90tn

Eleven Nigerian banks have seen a total market capitalisation of N7.90 tn. According to Prices for Securities Traded on Monday, Zenith Bank PLC led the Nigerian banking sector with a market capitalisation of N1.47 tn. The bank’s shares are currently priced at N46.85, reflecting a 1.85 per cent increase. Guaranty Trust Holding Company PLC follows...
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Nova Bank asks court to wind up firm over $2.58m debt

A commercial bank, Nova Commercial Bank, has urged a Federal High Court in Lagos to grant an order winding up Sunrise Products Limited over an alleged failure to liquidate a $2,587,891.21 and N276,567,150.63 debt allegedly owed to the bank. The bank claimed that Sunrise Products Ltd, despite repeated demands by the creditor, which has also...
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Operators project regional trade boost for Nigeria

Economic experts have said that Nigeria’s active participation in the African Continental Free Trade Agreement is seen as a significant opportunity to boost regional trade and drive economic growth across the African continent. They stated that Nigeria, with its status as Africa’s largest economy and most populous nation, holds a pivotal role in promoting industrialisation,...
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I apologise for saying no heaven without tithe – Adeboye

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

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

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...