Business – Page 721 – Rise Africa

FCMB expects N226.93bn gross earnings

10.12.2024

FCMB Group has projected gross earnings of N226.93bn for the first quarter ending March 31, 2025. In its earnings forecast filed with the Nigeria Exchange recently, the bank expects interest income to reach N197.4bn, with interest expense projected at N101.99bn, resulting in a net interest income of N95.4bn. Additionally, FCMB anticipates N3.47bn in foreign exchange...

Litigation, others delayed $500m electricity loans, says W’Bank

10.12.2024

The $500m Nigeria Distribution Sector Recovery Programme, aimed at addressing significant challenges in the country’s electricity distribution sector, has been hit by several delays, findings by The PUNCH showed. A World Bank document on the restructuring of the project, obtained by The PUNCH on Monday, indicated that these delays, primarily due to a court case...

Nestlé trains food vendors in business sustainability

10.12.2024

Nestlé Nigeria has trained over 2,000 food vendors in Lagos, equipping them with skills to manage and grow their businesses amidst the rising costs of operation. The training, which was part of the ongoing “Business of Food” workshop series, focused on helping food vendors, including canteens, grillers, and event planners, adapt to the challenges posed...

Nigeria, S’Arabia begin talks on iron ore processing

10.12.2024

Nigeria and Saudi Arabia have initiated talks on the extraction and processing of iron ore into steel. A statement signed by the Special Adviser to the solid minerals minister, Kehinde Bamigbetan, on Monday, said the Minister of Solid Minerals Development, Dr Dele Alake, and the Deputy Minister of Minerals and Energy of Saudi Arabia, Khalid...

150,000bpd P’Harcourt refinery plant 90% completed – NNPCL

10.12.2024

The Nigerian National Petroleum Company Limited has confirmed that the ongoing repair of the new 150,000 barrels per day Port Harcourt Refining Company has reached over 90 per cent completion rate. This is according to the Group Executive Vice President, Downstream, Isiyaku Abdullahi, who spoke on Monday when labour leaders from the Nigeria Labour Congress...

Oil producers, NMDPRA differ on petroleum levy collection

10.12.2024

Oil producers and the Nigerian Midstream and Downstream Petroleum Regulatory Authority on Monday expressed diverse opinions over who should collect the 0.5 per cent wholesale price levy imposed on petroleum products by the Petroleum Industry Act. While the NMDPRA said the oil producers should collect the levy and remit it into their accounts, the players...

States capital projects suffer delay over N4.5tn funding shortfall

10.12.2024

About 29 state governments currently face a deficit of N4.25tn in funding capital projects, as this has resulted in the delay of various infrastructure projects in the affected states, The PUNCH reports. These states collectively disbursed a total sum of N3.76tn out of a budget target of N8.25tn to fund capital projects, requiring additional funding...

Oando raises oil production output by 50%

10.12.2024

Oando Plc says it has increased its crude oil production output by almost 50 per cent in three months. It said the achievement followed the acquisition of Nigerian Agip Oil Company from Eni, earlier this year. The Managing Director of Oando Energy Resources Nigeria Limited, Dr. Ainojie Irune, disclosed this during a recent meeting with...

Foreign investments in telecoms crash by $99m – NBS

10.12.2024

Foreign investments in Nigeria’s telecommunications sector fell sharply to $14.4m in the third quarter of 2024, marking an 87 per cent decline from the $113.42m recorded in the second quarter, the National Bureau of Statistics has said. Foreign investments in the sector dropped by $99.02m going by the latest NBS data above. In this context,...

OPS urges sustenance as naira gains N137/$

10.12.2024

The naira appreciated by N137.69 against the United States dollar within a week, following the introduction of the Central Bank of Nigeria’s new foreign exchange platform. Data obtained from the CBN’s website on Sunday showed that the closing exchange rate, which was N1672.69 per dollar on Friday, November 29, 2024, rose to N1,535/$ at the...

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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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Latest News

FCMB expects N226.93bn gross earnings

Litigation, others delayed $500m electricity loans, says W’Bank

Nestlé trains food vendors in business sustainability

Nigeria, S’Arabia begin talks on iron ore processing

150,000bpd P’Harcourt refinery plant 90% completed – NNPCL

Oil producers, NMDPRA differ on petroleum levy collection

States capital projects suffer delay over N4.5tn funding shortfall

Oando raises oil production output by 50%

Foreign investments in telecoms crash by $99m – NBS

OPS urges sustenance as naira gains N137/$

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