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FG services debt with 47% budget vote

13.01.2025
Debt servicing consumed 47 per cent of the Federal Government’s total expenditure in the first nine months of 2024, The PUNCH reports. An analysis of data from the Central Bank of Nigeria’s latest quarterly statistics bulletin highlights the growing burden of debt repayment obligations and its implications for Nigeria’s fiscal sustainability. In the first nine...
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Telecom tariff hike will reduce inflation – Rewane

13.01.2025
The Chief Executive Officer of Financial Derivatives, Bismarck Rewane, has expressed support for the proposed telecom tariff hike, citing its potential to enhance productivity and moderate inflation in the economy. Speaking on Channels Television’s Business Morning on Thursday, Rewane highlighted the economic benefits of the tariff adjustment, which has been proposed by telecom operators and...
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CBN suspends export proceeds repatriation extension

13.01.2025
The Central Bank of Nigeria has suspended approvals for the extension of export proceeds repatriation on behalf of exporters, effective immediately. This directive, issued via a circular dated January 8, 2025, applies to both oil and non-oil export transactions. The apex bank explained that the move aims to enforce compliance with existing foreign exchange regulations....
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Inflation may drop to 27% by December – Report

13.01.2025
Nigeria’s inflation rate is projected to decline to 27.1 per cent by December 2025, according to the latest NESG-Stanbic IBTC Business Confidence Monitor report. This forecast offers a ray of hope to businesses and consumers struggling with prolonged economic difficulties, as it suggests that structural reforms are beginning to yield positive results despite lingering challenges....
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Enugu/Anambra Customs grow revenue to N50bn

13.01.2025
The Nigeria Customs Service, Enugu/Anambra/Ebonyi Command, says it collected N50.8bn as revenue in 2024. In a statement on Friday, the command said the figure represents over a 50 per cent revenue increase compared to the N27.9bn it collected in the same period in 2023. According to the Customs Area Controller in charge of the command,...
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Enugu gov signs executive order on new urban areas

13.01.2025
The Governor of Enugu State, Peter Mbah, has signed Executive Order No. 1, 2025, designating some areas in the state as urban areas. He also signed the Land Use Regulation 2025. The state government stated in a statement on its website on Friday that the entire Enugu East, Enugu North, and Enugu South Local Government...
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NIMRA vows to provide alternative after NBS website hack

13.01.2025
The Nigerian Marketing Research Association has said it will provide a private sector alternative to economic data following the National Bureau of Statistics website hack. NIMRA President, Seyi Adeoye, in a telephone interview, told Saturday PUNCH the hack, resulting in the NBS website being inaccessible since December 18, 2024, showed the need for private sector...
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Analysts advocate export of value-added agro commodities

13.01.2025
Industry experts have emphasised the need for Nigeria to shift from exporting raw agro commodities to value-added products, citing the significant economic benefits of processing and value addition. According to data from the International Trade Centre, Nigeria’s export of raw agro commodities such as cocoa, cashew nuts, and sesame seeds has left a substantial amount...
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Firm lauds improved gas supply to manufacturers

13.01.2025
The Managing Director of Tiget Business International Limited, Zheng Wei, says some Nigerian manufacturing companies are leveraging improved gas supply around Lagos to ramp up production amid incessant grid collapses. This development is boosting their operations, according to Wei, who is managing one of the country’s largest footwear manufacturers. He stated this in a statement...
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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...

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04.10.2024
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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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