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13 states commit N3.8tn on salaries, others

26.11.2024
About N3.87 trillion has been allocated for recurrent expenditure across 13 Nigerian states in their proposed budgets for the 2025 fiscal year. The governors of these states have presented budgets that prioritise administrative costs, including salaries and overheads, while also allocating significant funds for capital projects aimed at boosting infrastructure development. The total proposed budget...
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States tackle NNPCL over extra N1tn subsidy payment

26.11.2024
The Nigerian National Petroleum Company Limited has requested an additional subsidy refund of N1.19 trillion for July 2024, citing exchange rate differentials on Premium Motor Spirit importation and joint venture taxes, according to findings by The PUNCH. But state governments tackled the national oil company over the latest request, as they raised concerns over NNPCL’s...
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Ex-workers illegally retain N748m govt vehicles – AuG report

26.11.2024
A report by the Auditor-General of the Federation has revealed that government vehicles valued at N747.75m were illegally retained by former staff of five ministries, departments, and agencies. The findings, contained in the Auditor-General’s Annual Report on Non-Compliance and Internal Control Weaknesses, covered activities between 2020 and 2021. The report highlights failures in enforcing clearance...
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Unemployment rate dropped to 4.3% in Q2

26.11.2024
Nigeria’s unemployment rate declined to 4.3 per cent in the second quarter of 2024, signalling improved labour market conditions. According to the latest report released on Monday, by the National Bureau of Statistics, this marked a decrease from the 5.3 per cent recorded in Q1 2024 and reflected a gradual recovery from the 5.0 per...
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Speedview hosts online AI training for teachers

26.11.2024
Speedview Communications Limited, a yearbook publishing company, recently hosted a two-day online AI training workshop for teachers. In a statement made available to our correspondent on Monday, the AI teachers workshop, held in collaboration with Igbera.ai, an India/America-based AI training organization, focused on equipping educators with practical and innovative tools to enhance their teaching methods...
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Electricity subsidy hits N1.91tn in 11 months

26.11.2024
The monthly spending of the Federal Government on electricity subsidy obligation has reached N1.91tn in the first 11 months of 2024, a new report by the Nigerian Electricity Regulatory Commission has disclosed. It also stated that power distribution companies collected a total revenue of N1.23tn during the first nine months of 2024, exceeding the total...
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Firm unveils luxury furniture gallery

26.11.2024
The internationally acclaimed British luxury furniture and lifestyle brand, Timothy Oulton, has unveiled its flagship gallery in Victoria Island, Lagos. The firm’s Managing Director and Global Head of Training and Development, Jude Leach, said Timothy Oulton brings a new standard of opulence and sophistication to discerning Nigerian homeowners and design enthusiasts. “The Lagos Gallery is...
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Interest rate hike likely again as MPC meets today

26.11.2024
The Monetary Policy Committee of the Central Bank of Nigeria is projected to maintain its inflation-tightening stance at its last meeting of the year in the face of rising inflation. At its September meeting, the Committee raised the Monetary Policy Rate by 50bps to 27.25 per cent, emphasising concerns over core inflation, money supply growth,...
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Customers’ deposits in failed Heritage Bank safe – NDIC

26.11.2024
The Managing Director/Chief Executive Officer of Nigeria Deposit Insurance Corporation, Bello Hassan, has reassured customers of the failed Heritage Bank that their funds in the bank are safe. Hassan gave this reassurance at the 2024 NDIC Editors Forum held in Lagos on Saturday. The NDIC boss, who was represented by the Executive Director (Operations), Mustapha...
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Nigeria’s GDP grows by 3.46% in Q3 2024

26.11.2024
Nigeria’s economy recorded a 3.46 per cent year-on-year growth in Gross Domestic Product during the third quarter of 2024. This was revealed in the latest GDP report from the National Bureau of Statistics on Monday. The growth represents an improvement over the 2.54 per cent recorded in the same period of 2023 and a slight...
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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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