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FCMB Agritech rewards startups

18.12.2024
First City Monument Bank has awarded winners of its 2024 Agritech hackathon and venture-building programme N23m, recognising their innovative solutions to Nigeria’s agribusiness challenges. A statement made available to our correspondent by the bank on Monday stated that the hackathon, which ran for three months and was powered by Heave Ventures with support from the...
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NGX gains N78bn as MRS, Wapic lead

18.12.2024
The Nigerian Exchange closed on a positive note at the end of Tuesday’s trading session, with the equity market adding N78bn to its value. This was driven by gains in MRS Oil Nigeria, Wapic Insurance, and Caverton Offshore Support Group. The All-Share Index advanced by 128.31 points, representing a 0.13 per cent increase to close...
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Food inflation hits 40% despite FG $3.3bn agric loan

18.12.2024
Despite securing multilateral loans amounting to $3.334bn (N5.178tn) and attracting over $4.3bn investments to boost food production, the cost of essential staple food items skyrocketed by 60.88 per cent under the leadership of President Bola Tinubu, The PUNCH reports. When Tinubu assumed office in May 2023, food inflation was 24.82 per cent. It jumped to...
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Fraud examiners mark international awareness week

18.12.2024
The Association of Certified Fraud Examiners, South-West Nigeria Chapter, has intensified efforts to combat financial fraud in Nigeria by marking International Fraud Awareness Week. The week-long activities featured strategic engagements, capacity building, and collaborative initiatives aimed at fostering transparency and accountability across sectors. A key highlight was a courtesy visit to the Nigerian office of...
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FG approves N263bn for power substations

18.12.2024
The Federal Executive Council on Monday approved N262.75bn (€161.33) for the first Phase of the Presidential Power Initiative, otherwise known as the Siemens Project. The project involves the engineering, procurement, construction, and financing of 330/132 KV and 132/33 KV substations in Onitsha, Offa, Abeokuta, Ayede, and Sokoto. The Minister of Power, Mr Adebayo Adelabu, revealed...
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FG, World Bank invest $600m on rural roads

18.12.2024
The Federal Government, in collaboration with the World Bank, has allocated $600m to rehabilitate 200,000 kilometers of rural roads under the Rural Access and Agricultural Marketing Project. Principal Information Officer at the Federal Ministry of Agriculture and Food Security, Ogbuagu Chika disclosed this in a statement on Monday. Speaking during a press briefing in Abuja,...
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Nigeria’s exports to ECOWAS hit N1.5tn – NBS

18.12.2024
Nigeria’s exports to countries in the Economic Community of West African States reached N1.54tn in the third quarter of 2024, the National Bureau of Statistics has said. Data from the bureau also showed that Nigeria’s imports stood at just N82bn. The report revealed that Nigeria’s main trading partner within the ECOWAS region was Ivory Coast,...
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Nigeria, African countries need $74bn for debt servicing – AfDB

18.12.2024
Nigeria and other African countries require about $74bn for debt servicing this year amid increasingly limited access to affordable liquidity, the Vice President and Chief Economist, Economic Governance and Knowledge Management, African Development Bank Group, Prof Kevin Urama, has disclosed. He made this statement during his opening remarks at the launch of the Debt Management...
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Rising food prices drive inflation to 34.6% high

18.12.2024
Nigeria’s inflation rose to 34.60 per cent in November 2024, reflecting a 0.72 per cent increase from October’s rate of 33.88 per cent. This came as Nigerians expressed optimism that the level of inflation across the country would decelerate in the next six months This was one of the outcomes of the Inflation Expectations Survey...
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W’Bank plans $1.65bn loans for Nigeria next year

18.12.2024
The World Bank is set to decide on three major loan projects for Nigeria in 2025, totalling $1.65bn, as part of efforts to address critical developmental challenges in the country. The loans, currently in the pipeline, will focus on internally displaced persons, education, and nutrition enhancement. According to information obtained from the World Bank’s website,...
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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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