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Stakeholders seek urgent reforms in manufacturing sector

01.01.2025
Stakeholders have observed that Nigeria’s manufacturing sector, vital to the nation’s economic advancement and diversification, is beset by entrenched obstacles that call for immediate and transformative reforms. Despite its potential to drive industrialisation and reduce dependence on imports, the sector continues to grapple with policy inconsistencies, inadequate infrastructure, and persistent energy crises. Industrial policy inconsistencies...
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W’Bank supports low-income countries with $17bn

01.01.2025
The World Bank has invested $17bn of the $51bn provided by multilateral institutions to support low- and middle-income countries facing a growing debt crisis. The lender said the COVID-19 pandemic exacerbated the debt burdens of developing nations, and the subsequent rise in global interest rates has made it even harder for many to recover. The...
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FG votes N365bn for new road projects

01.01.2025
The Federal Ministry of Works, under the leadership of the Minister of Work, David Umahi, has proposed N365.44bn to fund the construction of new road projects and purchase of operational vehicles. However, earlier in the year, Umahi made a public announcement not to include new road projects in the 2025 budget. The proposed N365.44bn is...
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NERC orders Discos to buy 95% power supply

01.01.2025
The Nigerian Electricity Regulatory Commission has declared that electricity distribution companies that fail to pick up at least 95 per cent of the energy provided for two consecutive months will face penalties. The commission disclosed this in a new regulatory instrument cited as Addendum 1 to the Order on Performance Monitoring Framework for Distribution Companies...
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Equity market closes year 2024 with N135bn loss

01.01.2025
Transactions on the floor of the Nigerian Exchange Limited on Tuesday ended the year on a negative note, with the All-Share Index declining by 0.22 per cent to close at 102,926.40 points from the previous 103,149.35 points. The total market capitalisation dropped by N135bn, closing at N62.76tn, marking the final trading day of the year,...
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Telecom subscribers reject proposed tariff hike

01.01.2025
The National Association of Telecoms Subscribers has rejected the proposed increase in telecommunication tariffs, describing the plan as “insensitive” and a further burden on consumers already grappling with economic hardship. The decision to reject the hike came after an emergency meeting held on Tuesday, where the association issued a communique outlining their objections. The backlash...
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‘Tech revolution reshaping financial services’

01.01.2025
A seasoned finance professional, Oluwatoyin Ayodele, has stated that technology is no longer just a tool but a transformative force in the rapidly evolving financial sector. According to Ayodele, financial institutions are leveraging cutting-edge innovations, from artificial intelligence to digital security, to address systemic challenges, broaden inclusion, and foster growth. Ayodele said, “This represents a...
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NGX opens week with N987bn gain

01.01.2025
At the close of the first trading day of the week, the Nigerian Exchange Limited recorded a market capitalisation of N62.5tn, with a total of 641,117,293 shares traded in 13,778 deals. The value of these transactions amounted to N15.50bn, reflecting a 44 per cent increase in trading volume, a 3 per cent increase in turnover,...
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Citibank marks 40th anniversary

01.01.2025
Citibank Nigeria Limited has marked its 40th anniversary, celebrating decades in the financial sector. In a statement issued to The PUNCH on Sunday, the bank highlighted its journey from its foundation as Nigeria International Bank Limited to becoming a player in Nigeria’s banking landscape. The Chairman of the Board of Directors, Shamsuddeen Usman, said, “Citi...
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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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