Business & Economy
Inlaks appoints new CEO to drive innovation
Inlaks, a leading systems integrator and ICT provider in sub-Saharan Africa, has appointed Charles Ifedi as its new Chief Executive Officer, Africa operations. According to a statement to The PUNCH, h...
5th May 2025
Global trade tensions weaken naira, drag oil prices – Report
Volatility returned to the global oil market in April as escalating trade tensions, particularly between the United States and China, triggered a sharp drop in crude oil prices and heightened pressure...
5th May 2025
Naira printing costs skyrocket by 306%
The Central Bank of Nigeria spent N315.18bn on currency issue expenses in 2024, marking a sharp increase of 306 per cent compared to N77.67bn recorded in 2023, the apex bank’s audited financial stat...
5th May 2025
Lagos impounds 200 rickety vehicles
The Lagos State Vehicle Inspection Service has impounded over 200 rickety vehicles in its fight against unroadworthy cars and buses operating in the state. This was made known in a statement made avai...
5th May 2025
CBN committed to long-term stability, financial inclusion – Cardoso
The Governor of the Central Bank of Nigeria, Olayemi Cardoso, has reiterated the apex bank’s commitment to promoting long-term economic stability, financial inclusion, and policy transparency as Nig...
5th May 2025
Tinubu to meet Gencos over N4tn electricity debt
President Bola Tinubu is expected to meet with the leadership of Nigeria’s power-generating companies as part of an emergency effort to address the N4tn debt threatening to cripple the country’s e...
5th May 2025
Govt delists CNG conversion centre over sharp practices
The Presidential Initiative on Compressed Natural Gas has officially delisted one of its conversion partners, Charles Goriola Yakub of C & L Smart Energy Limited, following confirmed reports of mi...
5th May 2025
CITN names Ohagwa as president-elect
The Chartered Institute of Taxation of Nigeria has elected Mr Innocent Ohagwa as its President-elect, following a unanimous decision by the Governing Council at an extraordinary meeting held on May 1,...
3rd May 2025
Abuja CNG-powered taxis slash fares by 40%
The Chief Executive Officer of the Presidential Compressed Natural Gas Initiative, Michael Oluwagbemi, has announced a 40 per cent transport fare reduction for commuters boarding CNG-powered taxis fro...
3rd May 2025
LivingTrust Mortgage Bank posts N981m profit
LivingTrust Mortgage Bank Plc has declared a profit of N981.2m, one of the highest in the bank’s history. This was disclosed in its audited financial statement for the year ended December 31, 2024. ...
3rd May 2025
Lafarge graduates female truck drivers
Lafarge Africa Plc has graduated another 30 female truck drivers from its Women on Wheels training programme, bringing the total number of beneficiaries to 103 since the initiative began in 2019. The ...
3rd May 2025
Tinubu’s ministers shun TikTok, LinkedIn despite having 17m social media followers — Report
Despite amassing a combined social media following of over 17 million Nigerians, most of President Bola Tinubu’s cabinet ministers are ignoring key platforms like TikTok and LinkedIn, a new report h...
3rd May 2025
Oyetola distributes 3,500 life jackets in Bayelsa
The Minister of Marine and Blue Economy, Adegboyega Oyetola, has led the official distribution of 3,500 life jackets to water transport users in Yenagoa, Bayelsa State. A statement issued by his minis...
3rd May 2025
Petrol landing cost now N870, higher than Dangote’s price
The landing cost of Premium Motor Spirit (petrol) has now averaged N870 per litre, reports by the Major Energies Marketers Association of Nigeria have shown. This is even as the price offered by the D...
2nd May 2025
NESG, Foundation partner on socioeconomic devt in Borno
In a bold move to catalyse the transformation of Borno State and Northern Nigeria, the Nigerian Economic Summit Group and the Borno Development Foundation have entered a strategic partnership aimed at...
2nd May 2025
AfDB launches $650m yearly economic support for Nigeria
The African Development Bank Group has approved a new five-year Country Strategy Paper for Nigeria, committing about $650m annually between 2025 and 2030 to drive economic transformation, build resili...
2nd May 2025
Nigeria to fully repay IMF loan by 2029
Nigeria is on track to fully repay its International Monetary Fund Rapid Financing Instrument loan by 2029, according to findings by The PUNCH. The latest repayment schedule published by the Fund on i...
2nd May 2025
CBN licenses firm to boost MSME financing
The Central Bank of Nigeria has officially granted a finance company licence to Preferred Finance Company Limited, with the mandate to provide structured financing solutions, particularly to micro, sm...
2nd May 2025
Trump’s 14% tariff not affecting urea export – Dangote
President of the Dangote Group, Aliko Dangote, said on Thursday he was “comfortable” with the effect of United States President Donald Trump’s tariffs on his company’s urea exports. He express...
2nd May 2025
May Day: ACCI advocates social justice, decent work
The Abuja Chamber of Commerce and Industry has called on the government, businesses, and civil society to unite in promoting policies that guarantee decent employment, protect workers’ rights, and f...
2nd May 2025
CBN raises N804bn at open market auction
The Central Bank of Nigeria has raised a total of N804.85bn at its Open Market Operations auction conducted on Monday, April 29, 2025, as investors continued to chase high-yield securities amid excess...
2nd May 2025
Aviation unions decry FG’s refusal to stop 50% revenue cut
The President of the National Union of Air Transport Employees, Ben Nnabue, has raised safety and security concerns in the aviation industry over the continued deduction of 50 per cent of the revenue ...
2nd May 2025
Electricity subsidy spending balloons to N762bn
Electricity subsidy has increased to about N762bn in the first four months of 2025. Figures from various reports of the Nigerian Electricity Regulatory Commission showed that the subsidy on power was ...
2nd May 2025
Customs intercept N921m contrabands at Apapa ports
The Nigeria Customs Service said it intercepted 11 containers carrying unregistered sex drugs, expired foodstuffs, and other contraband worth N921bn at Apapa Ports between January and to date. Address...
1st May 2025
Discos generate N769m from mass metering of Army barracks
The Federal Government has revealed that its mass metering initiative for army barracks across the country has generated over N769m in revenue collection by electricity distribution companies for the ...
1st May 2025
CBEX resumes operations despite SEC ban, N1.2tn EFCC probe
Despite the alleged N1.2tn digital trading fraud that reportedly affected over 600,000 Nigerians, the embattled Crypto Bridge Exchange trading platform, accused of these acts, has resumed operations, ...
1st May 2025
FG inaugurates e-invoicing committee to curb tax evasion
The Federal Government has inaugurated the National Electronic Invoicing Inter-Agency Steering Committee to oversee the rollout of a new digital invoicing platform, the Merchant Buyer Solution, aimed ...
1st May 2025
MOFI, development bank sign MoU on housing finance
The Federal Government has signed a Memorandum of Understanding with Shelter Afrique Development Bank to strengthen Nigeria’s housing sector through the expansion of the MOFI Real Estate Investment ...
1st May 2025
Govt, Emirates sign tourism deal
The Federal Government, through the Ministry of Art, Culture, Tourism, and Creative Economy, and Emirates Airline have signed a Memorandum of Understanding to boost tourism in Nigeria. Both parties fo...
1st May 2025
FG engages investors on N1.5tn highway concession projects
The Federal Government has begun high-level discussions with private concessionaires willing to invest over N1.5tn in Nigeria’s road infrastructure, but who are yet to mobilise due to unresolved adm...
1st May 2025
MTN commits N202.4bn to network upgrade
MTN Nigeria, the country’s largest telecommunications operator, has allocated N202.4bn to bolster its network infrastructure in the first quarter of 2025, marking a 159 per cent increase from the pr...
1st May 2025
