Tag: Finance

Transportation

NRC to begin night operations

The Nigeria Railway Corporation has finalized preparations to begin night operations in the second quarter of 2024. The News Agency of Nigeria reported that the NRC’s Managing Director, Fidet Okhiria, said this in an interview on Monday. “What is limiting us is the night operations, and that is not how trains should operate. The train is designed […]

Inflation causes decline in private sector productivity, employment - PMI
Business

PMI rises to 52.7 in December – Report

The most recent Stanbic IBTC PMI survey has revealed that the business environment in Nigeria improved in December 2023, with the Purchasing Managers Index climbing to 52.7 from 48.0 in November. The PUNCH reported that despite the increase, the business forecast for the new year is the lowest it has been since 2014. The increase was the […]

Manufacturers warn price hikes to persist without solutions
Business

Manufacturers urge FG to clear $7bn debt

The Manufacturers Association of Nigeria has requested the Federal Government to resolve the present $7 billion Forex backlog. The PUNCH reported that MAN has stated that 2024 may not be a good year for manufacturers and that the first six months of the year will be difficult for industry players. The association’s Director-General announced this in […]

NAFDAC cuts licensing fees by 65%
Business

NAFDAC cuts licensing fees by 65%

The National Agency for Food and Drug Administration and Control reported that the processing fee for renewing registration for domestically manufactured items has been cut by 65% to N44,200. According to the News Agency of Nigeria, the agency’s Director-General, Mojisola Adeyeye, revealed the information in a statement published by NAFDAC media consultant, Olusayo Akintola, in […]

Polo Luxury promotes Rolex brand in Nigeria
Business

Polo Luxury promotes Rolex brand in Nigeria

A luxury goods company, Polo Luxury, has stated that it is happy to be developing the Rolex brand in Nigeria in a way that benefits both Polo and its partners. The PUNCH reported that Polo, which sells high-end watch and jewelery brands, said in a statement on Tuesday that the Managing Director of Polo Limited, John Obayuwana, […]

Firm provides training support to SMEs
Business

Firm provides training support to SMEs

Stage Africa Media & Advisory has established Small Business Saturday, an initiative to empower and support entrepreneurs across Nigeria. The PUNCH reported that Stage Africa Media and Advisory said in a statement on Tuesday that the project, which is a quarterly strategy session, will provide business owners with important tools, strategic counsel, and invaluable insights […]

Australia fines Telegram $640K for delayed response on online safety
News Tech

Telegram updates call feature

Telegram has updated its call feature promising better calls with a redesigned feature that consumes less battery life. Along with these improvements, the update adds new animations and upgrades to the app’s bot platform. According to the platform, calls have been updated with dynamic backdrops that alter according to whether the call is ringing, active, […]

Meta lowers prices for Quest 3 headsets
News Tech

Meta lowers prices for Quest 3 headsets

Meta is permanently lowering the price of its Quest 2 headset by $50, just months after launching its Quest 3 headset. There is a $249 price reduction for the 128GB version and a $299 price reduction for the 256GB version. Notably, since Black Friday, the headset has been available for increased rates. Meta, however, has […]

Investors pump N198tn into fixed-income market
Business

Investors pump N198tn into fixed-income market

Investment in the Fixed Income and Currency market resisted the country’s prevalent economic climate in 2023, with investors splashing N196.79tn on short to medium-term securities on the FMDQ platform in 10 months. The PUNCH examined data received from the FMDQ platform and discovered that investment increased by 8.9 percent, or N16.07 trillion, compared to N180.72 […]

Over 160,000 benefited from Tinubu's transport subsidy - Alake
Transportation

Over 160,000 benefited from Tinubu’s transport subsidy – Alake

The Chairman of the Presidential Committee on the Implementation of President Bola Ahmed Tinubu’s End of Year Transportation Subsidy Program, Mr. Dele Alake, has revealed that over 160,000 people had benefited from the program, which expires on January 4, 2024. The Minister of Solid Mineral Development, Mr. Dele Alake, revealed this today in a post on his official […]

Vitafoam shareholders okay N1.95m dividend
Business

Vitafoam breaks five-year record with 2023 N52bn revenue

Vitafoam Nigeria Plc has recorded the most money from its operations this year, than in the last five years. The PUNCH reported that according to the Consolidated and Separate Financial Statements for the year ended 30 September 2023, which were released on the Nigerian Exchange Limited, the foam producer earned N52.986 billion in revenue, a […]