Six banks in the country have posted N3.41 trillion as Profit After Tax (PAT) for the year 2024 ended as against the N2.1 trillion recorded in 2023 financial year. This is in spite of diverse transaction and service complaints, dissatisfaction among customers and the challenging economic situation of the country. The figure represents a 62.38…
Energy expert, Dr Ayodele Oni, says the removal of fuel subsidies in Nigeria has had a significant impact on the country’s economy. Oni, a partner at Bloomfield Law Firm, made the assertion in an interview with the News Agency of Nigeria (NAN) on Tuesday in Lagos. According to him, experts have noted both positive and…
Fidelity Bank Plc has reported a pre-tax profit of N385.2 billion for 2024, representing a 210 per cent growth compared to the N124.3 billion recorded in 2023. The bank, in a statement released on Monday, declared a total dividend of N2.10 per share following its strong financial performance in 2024. Gross earnings increased by 87.7…
The Job Creation and Micro, Small and Medium Enterprises (MSMEs) Secretariat (Office of the Vice-President) says over 60, 000 small business enterprenuers across the country so far, applied for the 2025 MSMEs award. Mr Temitola Adekunle-Johnson, Special Adviser to the President on Job Creation and MSMEs, said this in a statement on Monday in Abuja….
The Nigerian Electricity Regulatory Commission (NERC) on Tuesday announced that Electricity Distribution Companies (DisCos) collected N509.84 billion in the fourth quarter of 2024 out of the N658.40 billion billed to customers. This was disclosed in NERC’s 2024 Fourth Quarter Report, published on its website in Abuja. According to the report, this translates to a collection…
The Nigerian Electricity Regulatory Commission (NERC) on Tuesday said it installed a total of 185,439 meters in Q4 2024. NERC announced this on its 2024 Fourth Quarter Report, published on its website in Abuja. According to the report, this represents a marginal increase of 0.19 per cent compared to Q3 2024, when 185,087 meters were…
Some Ibadan residents have expressed anxiety over an anticipated increase in prices of items following Dangote Refinery’s move to stop the transaction of petroleum products in Naira come March 31. The respondents shared their minds in separate interviews with the News Agency of Nigeria (NAN) in Ibadan on Tuesday. A graphic designer, Mr Oluyemi Ojeyemi,…
First Bank of Nigeria Ltd. on Monday innaugurated its fifth Digital Xperience Centre in Lekki, Lagos, to address the growing demand for convenient and accessible banking services. The Managing Director of First Bank, Mr Olusegun Alebiosu, at the event, said the branch would provide convenient access to banking services and facilities 24 hours daily. Alebiosu…
The stock market opened the week on a positive note, with investors gaining N369 billion and performance indices rising by 0.56 per cent on Monday. Specifically, the Nigerian Exchange Ltd. (NGX) market capitalisation increased by 0.56 per cent to N66.188 trillion from an opening of N65.819 trillion recorded on Friday. The All-Share Index also rose…
The Depot and Petroleum Products Marketers Association of Nigeria (DAPPMAN) has raised alarms about potential risks linked to the Naira-for-crude oil policy. The association warned that the policy could jeopardise Nigeria’s foreign exchange stability and discourage Foreign Direct Investment (FDI) inflows. Olufemi Adewole, Executive Secretary of DAPPMAN, expressed these concerns in a statement issued on…
