Business – Page 686 – Rise Africa

Umahi commends work progress on Lagos-Calabar Highway

30.12.2024

The Minister of Works, David Umahi, has commended work progress on the Lagos-Calabar Coastal Highway Project. The minister described the project as a signature of excellence and innovation in road infrastructure development by the Renewed Hope administration of the president of Bola Ahmed Tinubu. Umahi made this commendation in a statement signed by the special...

Equity market records N472bn gain in shortened trading week

30.12.2024

The Nigerian equity market recorded a gain of N472bn during the shortened trading week, as the Federal Government declared Wednesday, December 25, and Thursday, December 26, 2024, public holidays for Christmas celebrations. The All-Share Index appreciated by 0.99 per cent, closing at 102,133.30 points, while the market capitalisation increased to N61.912tn. Investors traded a total...

Nigeria, others lose investments to inefficiencies – W’Bank

30.12.2024

The World Bank has said that inefficiencies in public spending are costing developing nations a significant portion of their investments. Nigeria is among the developing nations of the world. The global bank disclosed this in its report titled “How Can Developing Countries Power Up Public Investment?,” published on December 16, 2024. The report found that...

African Alliance, Guinea Insurance, others fined N74m

30.12.2024

Five insurance companies have been fined N74m by the Nigerian Exchange for defaulting on filing their financial reports when due. This was disclosed in the latest X-Compliance Report released by the local bourse on Friday. X-Compliance Report is a transparency initiative of NGX Regulation Limited designed to maintain market integrity and protect investors by providing...

Higher budget deficit may further depreciate naira – Fitch

30.12.2024

Fitch Ratings has warned that Nigeria’s efforts to stabilise its economy could face significant challenges if it fails to meet its fiscal deficit reduction targets. The global credit rating agency noted that a larger-than-expected budget deficit in 2025 could lead to further naira depreciation, higher inflation, and increased borrowing costs, ultimately threatening the government’s reform...

Nigerian Breweries promotes cultural heritage at Calabar Carnival

30.12.2024

Nigerian Breweries has reaffirmed its commitment to promoting the nation’s cultural richness and unity by sponsoring the 2024 Calabar Carnival and Festivals. Known as Africa’s largest cultural celebration, the festival is a vibrant showcase of art, music, dance, and diversity, attracting thousands of participants and visitors worldwide. This year’s theme, “Our Shared Prosperity,” highlights the...

Maritime unions laud NPA for career advancement

30.12.2024

Maritime unions under the auspices of the Maritime Workers Association of Nigeria and the Senior Staff Association of Statutory Corporation and Government-Owned Companies have lauded the Minister of Marine & Blue Economy, Adegboyega Oyetola, and the Managing Director of the Nigerian Ports Authority, Dr Abubakar Dantsoho, for career advancement and staff welfare. This was contained...

NUBIFIE seeks NASS intervention over contract staffing

30.12.2024

The President of the National Union of Banks, Insurance, and Financial Institution Employees, Anthony Abakpa, has called for the intervention of the National Assembly in improving the welfare of contract staff in the financial sector. Abakpa made this call in an exclusive chat with Sunday PUNCH. The International Labour Office described contract labour as covering...

FCMB, NNEW graduate 215 women entrepreneurs

30.12.2024

The FCMB SheVentures Mentoring Programme, in collaboration with NECA’s Network of Entrepreneurial Women, has graduated 215 women entrepreneurs through mentoring. Both partners held the virtual graduation ceremony for the women entrepreneurs recently. According to a statement, the initiative, now in its 11th cohort, empowers women in business with essential skills, market access, and networking opportunities....

NGX transactions drop 12% to N422bn – Report

30.12.2024

The Nigerian Exchange recorded a decline in total transactions in November 2024, dropping by 12.01 per cent to N442.34bn compared to N502.73bn in October 2024. This was disclosed in the Domestic & Foreign Portfolio Investment Report of Nigerian Exchange Limited on Friday. According to the report, domestic transactions contributed N401.40bn in November, representing an 11.83...