Business

N39BN ICC COST CAN BUILD 312 HEALTH CENTRES, 1,200 CLASSROOMS Fourteen months after the International Conference Centre (ICC) in Abuja was shut down for renovation, President Bola Ahmed Tinubu, alongside the FCT Minister, Nyesom Wike, inaugurated the rehabilitated facility on Tuesday, with pomp and circumstance as the minister renamed the national asset after the president. Tinubu hailed the rehabilitation of …

WHY TINUBU CAN’T ACHIEVE ANY MEANINGFUL ECONOMIC REFORM – AGBAKOBA Former President of the Nigerian Bar Association, Dr Olisa Agbakoba, has said that President Bola Tinubu cannot achieve any meaningful economic reform with the current political governance structure in the country. Agbakoba stated this on Friday while fielding questions on Channels Television’s Politics Today programme. The senior lawyer suggested that …

FG TO TRAIN 100,000 YOUTHS ANNUALLY IN FOREX TRADING The Federal Government has signed a Memorandum of Understanding with Investonaire Academy to train 100,000 young Nigerians every year in foreign exchange trading, as part of efforts to tackle unemployment and drive financial inclusion. This was contained in a statement on Tuesday, signed by the Federal Ministry of Youth Development’s Director …

ONLY TWO BANKS MEET CBN N500BN CAPITALLISATION THRESHOLD Only two Tier 1 banks, Zenith Bank and Access Holdings Plc, have surpassed the N500 billion share capital and share premium threshold set by the Central Bank of Nigeria for banks with international licences, Proshare report has revealed. The report, titled ‘Tier 1 Banks Report: Getting Bigger, Braver, and Dominant – The …

NNPCL DECLARES ₦‎5.89TRN REVENUE, ₦‎748BN PROFIT FOR APRIL 2025 Nigerian national oil company, NNPC Limited on Thursday reported that it raked in N5.89 trillion in revenues in the month of April, 2025 The company in a document titled: ‘NNPC Limited Monthly Report Summary — April 2025,’ posted on its website also declared a profit after tax (PAT) of N748 billion …

ALIKO DANGOTE RETIRES AS DANGOTE SUGAR REFINERY CHAIRMAN Dangote Sugar Refinery Plc has announced the retirement of Aliko Dangote as chairman of its board of directors, effective June 16. In a statement on Wednesday, Temitope Hassan, the company secretary, said Dangote, one of the founding directors, had served with “exceptional leadership, integrity, and vision” since 2005. “Under his leadership, Dangote …

TINUBU VISITS DANGOTE REFINERY, LAUDS ECONOMIC CONTRIBUTION President Bola Ahmed Tinubu has described the Dangote Petroleum Refinery and Petrochemicals complex as a defining industrial project of Nigeria’s modern era, citing it as a symbol of private-sector-led transformation and a cornerstone of national economic renewal. The President made the remarks during a tour of the facility at the weekend, which also …

HOW ABA IS REGAINING ITS CHARM AS COMMERCIAL HUB OF ABIA STATE How Aba is regaining its charm as commercial hub of Abia State For years, Aba, the popular Enyimba city and commercial hub of Abia State, lost its glory. Businesses fled as flood took over everywhere. Transport system collapsed, as there were no motorable roads. Wholesale buyers of Aba-made …

DISCOs RAISE BILLS 107% DESPITE POOR POWER Electricity distribution companies recorded a shortfall of over N202bn in their revenue collections for the first quarter of 2025, despite a rise in electricity billing across the country, an analysis of official industry data by The PUNCH has shown. This was as data revealed that electricity billing by distribution companies increased by 106.68 …

FG HIKES DRIVER’S LICENSE, PLATE NUMBER PRICES The Joint Tax Board (JTB) has approved a new price structure for driver’s licenses and number plates in Nigeria, set to take effect tomorrow, June 8, 2025. The announcement, made earlier today, introduces significant increases in the cost of obtaining these essential documents, impacting millions of motorists and tricycle operators across the country. …