Monday, May 4, 2026
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NERC Anticipates 52% Drop in FG’s Monthly Electricity Subsidy Spending due to New Tariff Hike
The Nigerian Electricity Regulatory Commission (NERC) has projected that the recently approved electricity tariff will significantly reduce the subsidy expenditure for the fiscal year 2024 by approximately N1.14 trillion. Mr....
Read moreDetailsTranscorp pretax profit jumps by 93%
Transnational Corporation Plc grew its profit before tax by 93.5 per cent to N58.8bn in 2023 from N30.4bn in the same period in the previous year. The firm’s financial results...
Read moreDetailsCustoms Q1 revenue surpasses N1tn, rice tops N10bn seizures
The Nigeria Customs Service, on Wednesday, announced a 122.35 per cent increase in its first quarter 2024 revenue when compared to the same period in 2023, stating that it raked...
Read moreDetailsSteady dollar supply pushes naira to 1,262/$
The naira, on Wednesday continued its gain against the United States dollars, appreciating both at the official foreign exchange and parallel markets, to the delight of many Nigerians. At the...
Read moreDetailsNaira appreciates to N1260/$ in parallel market
The official foreign exchange (FX) rate has surpassed the parallel market as the Naira experiences a boost, reaching N1,595/$. In the parallel market, the Naira demonstrated improvement, climbing from N1,270/$...
Read moreDetailsAliko Dangote and Abdulsamad Rabiu Companies Report N9.6 Trillion Capital Gain in Q1 2024
Nigeria's prominent billionaire investors and business tycoons, Aliko Dangote and Abdulsamad Rabiu, saw significant growth in their respective companies. They collectively achieved nearly N10 trillion in capital gains by the...
Read moreDetailsCustoms Exchange Rate for Import Duties Surpasses Official Market Rate, Reaching N1,330/$
The exchange rate utilized for customs import duties and cargo clearance payments currently exceeds Nigeria's foreign exchange market's official Naira to USD rate. According to data from the customs exchange...
Read moreDetailsNERC Approves Increase in Electricity Tariffs for Band A Customers to N225/KWh
The Nigerian Electricity Regulatory Commission (NERC), acting on behalf of the federal government, has given the green light to a hike in electricity rates for consumers falling under Band A...
Read moreDetailsNigerians import fewer goods in Q1 2024 over import duty fluctuations
In the first quarter of 2024, the Nigeria Customs Service (NCS) witnessed a decline in the volume of Single Goods Declarations (SGDs) for imports, marking a notable shift from previous...
Read moreDetailsImplement policies to tackle inflation, stakeholders tell FG
Stakeholders have urged the Federal Government to implement policies that will tame the accelerating inflation in the country. In separate interviews with The PUNCH, the stakeholders said that concerted efforts from...
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