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593 MDAs to fuel generators with N41bn

27.12.2024
Federal Ministries, Departments and Agencies will spend about N40.81bn to purchase petrol or diesel to power their generators in 2025, The PUNCH analysis has shown. The amount to be spent by 593 MDAs was listed as generator fuel costs in the 2025 appropriation budget, highlighting the unstable power supply situation in Nigeria. Nigeria has struggled...
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Lagos, Enugu join Commonwealth trade network

27.12.2024
Lagos and Enugu States have officially become strategic partners of the Commonwealth Enterprise and Investment Council, a move expected to boost trade and investment opportunities across Nigeria and the Commonwealth. This announcement was made during separate signing ceremonies held in Lagos and Enugu, with CWEIC’s Chief Executive Officer, Rosie Glazebrook, disclosing the development, according to...
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Chi Farms plans $2.5bn livestock investment

27.12.2024
Chi Farms Nigeria Limited has set its sights on a $2.5bn livestock investment following a recent visit from Brazilian meatpacking company JBS and the Nigerian Investment Promotion Commission at its facility along the Lagos-Ibadan Expressway, Ogun State. Chi Farms, a Tropical General Investments Group subsidiary, said that it took a step towards a $2.5bn investment...
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Improve regulator-industry engagement, experts urge govt

27.12.2024
Government agencies had multiple clashes with the private sector in 2024, some of which remain unresolved and could further detract from or present a growth opportunity, depending on how both parties approach them, writes ARINZE NWAFOR Economic experts have called on regulatory agencies and industry operators to address the tensions that plagued the business landscape...
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CBN disqualifies 41.65m shares in Access Holdings rights issue

27.12.2024
The Central Bank of Nigeria has disqualified 41.65 million shares worth N822.60m in Access Holdings Plc’s recently concluded rights issue. In a corporate notice filed on the Nigerian Exchange Limited on Wednesday, the disqualified shares, linked to five applicants, were flagged for reasons stated in the Capital Verification Report. “41,650,447 shares from five applicants among...
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Petrol price reduced in response to market – Dangote

27.12.2024
President of Dangote Industries Limited, Aliko Dangote, has clarified that the recent reduction in the price of Premium Motor Spirit, commonly known as petrol, to N899.50 per litre at its loading gantry was primarily driven by the complex dynamics of market forces. He also said it is his responsibility to safeguard both the interests and...
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Good Mama rewards consumers

27.12.2024
Good Mama detergent has rewarded loyal consumers with prizes worth over N5m during its recently concluded ‘Good Mama’s Day Out’ campaign in Ibadan, Lagos, and Ilorin, blending fashion, entertainment, and community engagement to celebrate personal style and brand loyalty. In a statement, Good Mama stated that its campaign kicked off in Ibadan on November 23,...
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Tinubu, Ogun leaders champion tech innovation

27.12.2024
The City Boy Movement, Ogun State Chapter, awarded N14m to winners of its technology grant initiative during the Annual Youth Summit held at the June 12 Cultural Centre in Abeokuta. The competition, which was initially announced as a N10m programme, took an unexpected turn when Mr Seyi Tinubu, co-host of the summit, pledged an additional...
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W’Bank suspends loan fees for poor nations

27.12.2024
The World Bank has announced the removal of several loan fees to make borrowing more affordable for vulnerable countries. The move is part of broader efforts to expand financial capacity and address urgent global challenges, including climate change, inequality, and economic fragility. The global bank disclosed this through a link posted on its official X...
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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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