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Nigeria’s oil production above OPEC quota – NNPC

26.11.2024
The Nigerian National Petroleum Company Limited and the Nigerian Upstream Petroleum Regulatory Authority say the country’s crude oil production has risen beyond the 1.5 million barrels per day quota allocated to it by the Organisation of the Petroleum Exporting Countries. The Chief Corporate Communications Officer of the NNPC, Olufemi Soneye, disclosed this in a statement...
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Oil, banking raise economic growth to 4.6% – NBS

26.11.2024
Nigeria’s economy expanded by 3.46 per cent year-on-year in the third quarter of 2024, largely driven by a strong performance in the services sector, the National Bureau of Statistics revealed in its latest GDP report on Monday. This marks a notable increase from the 2.54 per cent growth recorded in Q3 2023 and a slight...
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Ex-worker files N108bn suit against oil firm after sack

26.11.2024
One Dr Ayodeji Sasegbon has instituted a N108bn suit against TotalEnergies E & P Nigeria Limited and its parent company, TotalEnergies SE for what he called the “wrongful termination” of his appointment as a Process Engineer – Smart Room. In suit number, NICN/LA/155/2023, Sasegbon is asking the National Industrial Court sitting in Lagos to award...
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NDDC boosts food security with Edo harvest

26.11.2024
The Niger Delta Development Commission says it has achieved a significant milestone in its Rice and Cassava Farmers Empowerment Programme with the first harvest in Warrake, Owan East Local Government Area of Edo State. Speaking at the event on the rice farm, NDDC Managing Director, Dr Samuel Ogbuku, represented by the Director of Agriculture and...
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Banks, others raised N2.7tn from capital market – SEC

26.11.2024
The Securities and Exchange Commission on Monday revealed that banks and other companies raised a total sum of N2.7tn from the capital market in the first 11 months of 2024. It said the substantial sum was generated through various investments, securities, and financial instruments in an effort to expand business operations, support economic growth, and...
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Maritime contribution to GDP insignificant – CPPE

26.11.2024
The Nigerian maritime sector does not contribute significantly to the nation’s Gross Domestic Product, the Chief Executive Chief Officer of the Centre for the Promotion of Private Enterprise, Dr Muda Yusuf, has said. He, however, told our correspondent that the maritime sector was critical to Nigeria’s economy, and expressed hope to see when the sector...
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Foreign transactions decline on NGX as naira weakens

26.11.2024
Foreign investors are pulling out of the Nigerian Exchange as year-to-date foreign outflows surged to N400.04bn, surpassing foreign inflows of N344.30bn by October 2024, reflecting a net withdrawal of N55.74bn. Data from the exchange domestic and foreign portfolio participation in equity trading as of October 31, showed that foreign transactions accounted for only 16.65 per...
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ECOWAS unveils e-certificate to tackle regional fraud

26.11.2024
The Economic Community of West African States has unveiled its electronic certificate of origin, a digital system introduced to enhance trade facilitation and curb fraudulent practices across the region. Speaking at the official unveiling in Lagos, the Commissioner for Economic Affairs and Agriculture, Mrs Massandje Toure-Litse, lauded the initiative as a transformative milestone in the...
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Labour protests NBS drop in unemployment rate report

26.11.2024
The Nigerian Labour Congress has described the drop in Nigeria’s unemployment rate released in a report by the National Bureau of Statistics on Monday as fiction, stressing that it contradicts reality. The NLC’s position was corroborated by the Organised Private Sector, with the OPS stating that the report was not reflective of economic realities.  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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