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FG’s electricity debt balloons by N800bn – Senate

20.05.2025
The Senate Committee on Power has raised concerns over the liquidity crisis bedeviling the power sector, lamenting that the tariff shortfalls in the industry have indicated that the government owes about N200bn to electricity generating companies every month. The committee disclosed that since this year, the government has not paid the power producers, and that...
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CBN slashes FG loans by over N4tn

20.05.2025
The Central Bank of Nigeria recorded a significant decline of N4.145tn in net loans and receivables in 2024, driven primarily by a reduction in its overdraft exposure to the Federal Government and changes across other loan categories. According to the apex bank’s audited financial statements, net loans and receivables at the bank level dropped from...
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Tantalizers acquires Grand Media entertainment firm

20.05.2025
Tantalizers Plc has announced its acquisition of Grand Media Projects Limited, a media and entertainment company co-founded by veteran filmmaker Tade Ogidan and actor Richard Mofe-Damijo, marking a shift by the food services firm into Nigeria’s entertainment and creative industry. The move was disclosed in a corporate notice filed with the Nigerian Exchange Limited and...
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Equity market gains N614bn in one week

20.05.2025
The Nigerian equities market recorded a positive performance last week as investors gained N614bn, with the Nigerian Exchange All-Share Index rising by 0.90 per cent to close at 109,710.37 basis points, while the market capitalisation settled at N68.953tn. This marks a rebound from the previous week’s negative sentiment, as improved investor confidence and renewed interest...
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NITP inaugurates committee to implement laws

19.05.2025
The National President of the Nigerian Institute of Town Planners, Dr Chime Ogbonna, has inaugurated a colloquium committee on the implementation of the 1992 URP Law (CAP 138, Laws of the FRN, 2004). In a statement, it was noted that the colloquium aims to bring together a gathering of stakeholders to talk about the Nigerian...
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Firm underscores real estate’s edge over inflation

19.05.2025
Eko Development Company Ltd, the real estate firm developing Azuri Towers, has stated that with the high inflation rates in Nigeria, as well as interest rates, real estate investment provides the best store of value in the Nigerian economy. In the company’s brochure, it was stated that an investment in an Azuri Towers’ apartment, which...
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Analysts raise concerns over Nigeria’s rising debt

19.05.2025
Financial analysts at Afrinvest have raised fresh concerns over Nigeria’s ballooning public debt, projecting that the country’s total debt stock could hit N180tn by the end of 2025 if the current fiscal trends persist. This projection is contained in the latest Afrinvest Weekly Market Report, which reviewed key insights from the World Bank’s Nigeria Development...
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T-bills, bonds, Eurobonds record decline – Report

19.05.2025
The fixed income market closed the week on a bullish note, with yields across the T-bills, local bonds, and Eurobond segments experiencing a broad-based decline, according to a recent report by Meristem Securities. In the Treasury bills segment, the secondary market maintained a bullish trajectory, as average yields declined by 5 basis points to 20.84...
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Push for financial inclusion gains fresh momentum

19.05.2025
Central Bank of Nigeria aims to provide Nigerians in the diaspora with seamless financial services at home while intensifying its inclusion efforts, writes FELIX OLOYEDE Nigeria has recorded notable progress in its financial inclusion efforts, with access rising from 56 per cent in 2020 to 64 per cent in 2023, according to Enhancing Financial Innovation...
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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
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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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