Business & Economy
UNILAG power disconnected over N1bn debt – EKEDC
The Eko Electricity Distribution Company says it disconnected the University of Lagos from the power grid on Tuesday over its failure to pay its over N1bn electricity debt. The EKEDC Corporate Communi...
30th August 2024
Seven million African youths unemployed yearly – British Council
Close to seven million African youths are unable to get employment opportunities in the African labour market every year, the British Council says. The British Council Country Director, in Malawi, Ver...
30th August 2024
Nigeria ranks 24th in digital development in Africa
Nigeria, Africa’s most populous nation, has ranked 24th on the continent in terms of digital development, according to a new report by Statisense. The report released on Thursday, which evaluated co...
30th August 2024
Govs' jobs bazaar: States’ wages rise by N900bn
Amid calls by Nigerians for a lower cost of governance, the personnel costs of the 36 states in Nigeria for the 2024 financial year have hit N2.76tn, an analysis of the budgets by The PUNCH has reveal...
30th August 2024
FG, producers move to resolve oil production crisis
Leaders from both international and indigenous oil companies have reached a consensus on key issues regarding domestic crude oil supply obligations. The agreement was reached during a meeting convened...
30th August 2024
FCCPC warns firms against exploitation, threatens sanctions
The Federal Competition and Consumer Protection Commission has issued a stern warning to businesses engaging in exploitative pricing practices, threatening severe penalties, including prosecution for ...
30th August 2024
Tinubu okays 50% electricity subsidy for hospitals, others
President Bola Tinubu has approved a 50 per cent electricity subsidy for public hospitals and educational institutions to alleviate their financial burden. Minister of State for Health, Dr Tunji Alaus...
30th August 2024
Currency outside banks drops to N3.66tn — CBN report
Currency held outside of Nigeria’s banking system dropped to N3.66tn in July, about 3.32 per cent lower than it was in the previous month. This was disclosed in Money and Credit data available o...
29th August 2024
Kwara Customs command posts N13bn revenue in six months
The Nigeria Customs Service, Kwara Area Command, has said that it intercepted 1,153 parcels of marijuana worth N57.6m in July. It also said that between January and June this year, it collected N13.3b...
29th August 2024
PUNCH hosts communication scholars ahead of 2024 conference
The Management of PUNCH Nigeria Limited played host to members of the Association of Communication Scholars and Professionals of Nigeria on Wednesday at the newspaper’s head office in the Magboro ar...
29th August 2024
Marketers blame poor roads for petrol distribution delays
The President of the Natural Oil and Gas Suppliers Association of Nigeria, Mr Benneth Korie, has blamed the poor road infrastructure across the country for the delays in the distribution of petroleum ...
29th August 2024
Heirs Holdings plans more subsidiaries listing
The Chairman of Heir Holdings, Tony Elumelu, has disclosed that the group will list more of the firms in its portfolio on the Nigerian Exchange, to democratise prosperity. He stated this at a media pa...
29th August 2024
Nigeria handles 35% of W’African cargoes annually – NPA
The Nigerian Ports Authority has said that out of 17 million tonnes of annual West Africa freight from Antwerp, Nigeria accounts for over six million tonnes. It said that volume shows that Nigeria han...
29th August 2024
FG provides grants to 32 innovators
The Federal Government has awarded the sum of N47m to 32 innovators across the six geopolitical zones through the Presidential Standing Committee on Innovations and Inventions Programme. The Ministry ...
29th August 2024
LASAA simplifies process for obtaining approvals
The Lagos State Signage and Advertisement Agency has streamlined the processes for obtaining necessary approvals, introduced transparent regulations, and launched compliance campaigns. The Managing Di...
29th August 2024
Shell confirms spill in Rivers community, repairs faulty pipeline
Oil giant, Shell Petroleum Development Company of Nigeria Limited, has confirmed a spill on its Trans Niger Pipeline in Elelenwo in Obio/Akpor Local Government Area of Rivers State. The company howeve...
29th August 2024
NNPC begins free eye-care programme in Lagos
The Nigerian National Petroleum Company Limited says it has flagged off the third edition of its Vision First Programme, as part of comprehensive community-focused healthcare outreach targeted at the ...
29th August 2024
153 million SIMs now linked to NIN – NCC
The Nigerian Communications Commission has announced September 14, 2024, as the final deadline for the ongoing National Identity Number and Subscriber Identity Module linkage exercise. In a statement ...
29th August 2024
FG eyes 40,000 jobs from Abuja industrial park
The Minister of the Federal Capital Territory, Nyesom Wike, has disclosed that the proposed Idu Industrial Park, located in the Idu Industrial Area of the territory, will provide over 40,000 jobs when...
28th August 2024
FG, states raise N100bn for meter procurement
The Federal Government and the states have raised N100bn for the procurement of prepaid electricity meters. Minister of Power, Adebayo Adelabu, said this was under the Presidential Meter Initiative pr...
28th August 2024
Without structural gaps, Nigeria’s GDP will grow by 5% – IMF
The International Monetary Fund has said that Nigeria’s economy stands to grow at five per cent beyond the current 3.19 per cent if there is a 25 per cent removal of bottlenecks around governance an...
28th August 2024
Flights of fancy: Govs slammed for wasting N160bn on unviable airports
Six state governments including Ekiti, Ebonyi, Jigawa, Yobe, Nasarawa, and Bayelsa have spent about N160bn on airport projects that opposition politicians and aviation professionals classified as unvi...
28th August 2024
Oil production fell in Q2 – NBS
Nigeria’s daily oil production shrank by 160,000 barrels per day in the second quarter of 2024. This was contained in a report released by the National Bureau of Statistics. Within these three month...
28th August 2024
Reps promises to pass bill on electricity theft
The Chairman of the House of Representatives Committee on Privatisation and Commercialisation, Hamisu Ibrahim, has pledged the committee’s resolve to work with relevant committees in the House to pa...
28th August 2024
AMCON set to sell Ibadan Disco
The Assets Management Corporation of Nigeria says the only way to make the Ibadan Electricity Distribution Company more efficient is to sell it to viable investors. The AMCON Managing Director/Chief E...
28th August 2024
External auditors to examine NNPC N2.6tn subsidy claim
The Federal Government has finally initiated plans to enlist the services of an external auditor to verify the N2.7tn fuel subsidy claim by the Nigerian National Petroleum Company Limited against the ...
28th August 2024
Settle $72,000 liabilities for damaged bean export, FG orders firm
Nigerian Shippers’ Council has directed Inland Container Nigeria Limited to cover 70 per cent of liabilities amounting to $72,777 following a dispute arising from a damaged bean export. The council ...
28th August 2024
Truckers threaten protest over extortion by hoodlums
Truckers under the auspices of the Coalition of Maritime Truck Owners and Allied Services have concluded plans to protest against the vandalism of trucks and the death of their members along the port ...
28th August 2024
CEDHUL empowers humanities students with digital skills
The Centre for Digital Humanities, University of Lagos, has organised a three-day training for students of humanities, to empower them with digital skills. The workshop, which was held recently at the...
28th August 2024
FG may convert Arik, Aero Contractors to national carriers
The Asset Management and Corporation of Nigeria has said Arik and Aero Contractors airlines may be merged and converted to a national carrier. The AMCON Managing Director/Chief Executive Officer, Gben...
27th August 2024
FG spending exceeds revenue by 225% — BudgIT
A report by BudgIT, an accountability firm, has revealed that the Federal Government spent three times its revenue in 2023, resulting in a deficit of N13.50tn. In its analysis of the 2023 fiscal accou...
27th August 2024
