Oil marketers have declared that filling stations should not be blamed for the hike in the pump prices of Premium Motor Spirit, popularly called petrol, as queues for the commodity surfaced in various locations on Saturday. Many filling stations in Lagos, Ogun, Abuja, and Port Harcourt, among others, were closed on Saturday, as dealers explained …
95% bank debtors borrowed from MFBs in 2024 – CBN
The Central Bank of Nigeria has revealed that 95.66 per cent of bank debtors borrowed from microfinance banks as of September 2024. This dominance highlights the critical role of MFBs in the country’s lending ecosystem, particularly for individuals and small businesses. Out of the 6,537 total debtors recorded across all creditor types, 6,253 were linked …
Canadian businessman, Kevin O’Leary offers $20B cash to buy TikTok
Canadian businessman and, Investor Kevin O’Leary, has offered TikTok’s owners $20 billion in cash to buy the platform. Recall a bipartisan bill, which President Biden signed, called TikTok a threat to national security and forced ByteDance, the platform’s Chinese parent company, to divest from the platform or sell it in order for TikTok to remain …
Trump’s meme coin surges to $4bn market cap nine hours after launch
Donald Trump, the United States president-elect, has officially launched a new meme coin named $Trump. The announcement was made on X (formerly Twitter) on Saturday, where Trump encouraged his supporters to join the initiative. Just nine hours after its launch, $Trump reached a market capitalization of $4 billion, according to cryptocurrency aggregator Coingecko. Initially priced …
Maritime workers raise alarm over poor safety at ports
The Maritime Workers Union of Nigeria has said that the safety of port workers under dilapidated quay aprons is not guaranteed. The President General of MWUN, Adewale Adeyanju, stated this in a chat with The PUNCH in Lagos on Monday. According to him, the workers’ lives are no longer safe because of the quay aprons, which are …
Transport minister seeks more funds for infrastructure development
The Minister of Transportation, Senator Said Alkali, has called for increased funding to sustain and expand the nation’s transportation infrastructure as outlined in the 2025 budget proposal. He disclosed this in a statement signed by Chief Information Officer, Federal Ministry of Transportation, Gift Seddon, on Friday. Addressing the Joint Committees at the National Assembly in …
Why Lagos-Calabar road project not in 2025 budget – Umahi
The Minister of Works, David Umahi, has explained that the non-inclusion of the Lagos-Calabar Coastal Highway in the 2025 budget was an error, amid concerns by operators over the exclusion of the multi-billion naira project in the appropriation bill. In a video clip on X (formerly Twitter), the minister said, “What you have in the budget was Lagos-Port …
Biden Won’t Enforce TikTok Ban, Leaving App’s Future to Trump, Official Says
US President Joe Biden has decided not to enforce a ban on TikTok that was set to take effect a day before he leaves office, according to a US official who spoke to the Associated Press. Instead, the responsibility for the app’s future will fall to President-elect Donald Trump. Last year, Congress passed a law—signed …
Dangote refinery projects 650,000bpd June, plans crude import 17th January 2025
Facility now producing 500,000bpd as officials look beyond Nigeria to meet demand for product The Dangote Petroleum Refinery is planning to import more crude oil as supply from the Nigerian National Petroleum Company Limited becomes insufficient for fuel production at the $20bn Lekki-based facility. Officials at the plant said the facility has ramped up production …
Coca-Cola rewards consumers with N70m 17th January 2025
Coca-Cola has unveiled its Coke Studio ‘Beat the Drop’ campaign, rewarding consumers with prizes worth N70m, including all-expenses-paid trips to South Africa. The campaign, launched in December 2024, has awarded four winners with South Africa trips and 20 participants with N1m each, according to a statement. Senior Director of Frontline Marketing at Coca-Cola Nigeria, Yusuf …