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Food

Blog

Bakers to raise bread prices over rising costs
News

Bread prices jump 10% as bakers shelve strike

Bread makers under the aegis of Premium Breadmakers Association of Nigeria have increased bread prices by 10% after suspending its four-day warning strike which began on Thursday. Speaking in an interview with The PUNCH on Tuesday, the President of the association, Emmanuel Onuorah, said his members had to shelve their warning strike and resolved to […]

NBC slammed over MultiChoice court ruling
News

Tariff hike: Tribunal fixes Sept for Multichoice suit

An Abuja court on Monday announced a date for the judgment in a suit filed against MultiChoice, the operator of Gotv and DStv, over the recent price hike on their products and subscription rates. The PUNCH reported that the Competition and Consumer Protection Tribunal sitting in in the nation’s capital fixed September 6 for the […]

Energy transition: Osinbajo meets Siemens officials
Housing

31.6 million houses in Nigeria are substandard – Osinbajo

Vice President Yemi Osinbajo, on Monday, said studies show that about 31.6 million houses in Nigeria are substandard. He added that though efforts were being intensified to make decent homes available for Nigerians, access to funds had remained a challenge. He disclosed this during his address at the ongoing Africa International Housing Show 2022 in […]

FG gets N16bn tax credit for Lagos-Badagry Expressway
News

FG gets N16bn tax credit for Lagos-Badagry Expressway

The Minister of Works and Housing, Babatunde Fashola has disclosed that the Federal Government has gotten N16bn tax credit for the construction of the Lagos-Badagry expressway. Fashola made this known in an interview with The PUNCH on Monday, noting that the work was progressing on the expressway currently. The former Lagos State governor also reacted […]

Bismarck Rewane
Economy

More firms may collapse over rising FX, fuel cost – Expert

An economist and Chief Executive Officer at Financial Derivatives Company Limited, Bismark Rewane, has predicted that the high cost of power, fuel and rising foreign exchange will lead to the collapse of many businesses. In a telephone interview in Lagos, Rewane said that businesses were under pressure and the margins were being compressed. He noted […]

Danfo Yellow Bus
News

Private sector, banks strategise for economic growth

The Organised Private Sector and Nigerian banks have said they will address critical areas of concerns and strategise to create sustainable synergy between the financial services sector and other businesses. A statement said at the first national stakeholders’ conference on synergy between the Nigerian banking industry and the Organised Private Sector, top financiers; economic experts […]

Banking

Dangote Industries ends N187.58bn bond issue

Dangote Industries Funding Plc has announced the completion of a N187.58bn Series 1 (Tranche A and Tranche B) Fixed Rate Senior Unsecured Bond Issue under its N300bn Debt Issuance Programme. The bond issue represents the largest local currency bond issuance by a corporate issuer in the history of the Nigerian debt capital markets, according to […]

Nigeria gained $2.6bn from non-oil export six months
Oil and Gas

Oil firm shut over unapproved offshore operations

THE Federal Government has shut down Scorpion Oil Services for carrying out offshore operations without approval and also violating the provisions of the Factories (Diving at Work) Regulations, 2018. The company was also closed for non-compliance with the diving regulations. According to a statement on Monday by the Federal Ministry of Labour and Employment, the […]

Nigerians bought petrol N191.65 per litre September- NBS
Oil and Gas

Subsidy cost spikes by 370% amid rising debt

The cost of fuel subsidy is estimated to increase by 369.93 per cent from 2021 to 2023. In 2021, the Nigerian National Petroleum Corporation said fuel subsidy gulped N1.43tn, although there was no record for under-recovery in January. The Minister of Finance, Budget and National Planning, Zainab Ahmed, had said on Thursday at the presentation […]

Customs, FAAN ranked worst-performing agencies in May 2024
News

How agents forged my signature, cleared vehicles – Customs boss

At least four clearing agents were arrested for forging the signature of the Customs Area Controller in charge of the TinCan Island Command of the Nigeria Customs Service, Comptroller Adekunle Oloyode, to clear imported cars. Oloyode, who said this while briefing journalists on the half-year report of the command, said that the agents wanted to […]

How more taxes'll reduce debt load - FG
Economy

Nigerians face tougher times as revenue falls by N1.89tn

Economic and energy experts have predicted tougher days ahead for the economy, states and Nigerians as the Federal Government projects N6.7tn on fuel subsidy next year. The Minister of Finance, Zainab Ahmed, on Thursday released the four-month fiscal report of the economy during a public consultation on the 2023-2025 Medium Term Expenditure Framework/FSP. “Crude oil […]

Aviation

Suspension: Stranded passengers vandalise Dana Air’s counter

Some angry passengers of Dana Air who were left stranded at the Murtala Muhammed Airport, Lagos on Thursday, vandalised some property of the airline. The Nigerian Civil Aviation Authority had on Wednesday grounded Dana Air and suspended its operating licences to carry out a full audit of its operations to ascertain if the carrier can […]

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