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A Federal High Court in Lagos has nullified a directive from the House of Representatives Committee that ordered Seplat Energy to pay N72.624 billion in compensation to communities over alleged oil spills, ruling that the committee usurped judicial powers.
The Nigerian government is floating a N729 billion power bond on August 3, following strong investor interest that saw subscriptions hit ₦1.74 trillion in July. This indicates significant demand for government bonds.
Stakeholders in Nigeria are warning that a N720bn funding gap jeopardizes the country’s maternal and newborn health goals, urging increased investment to reduce high mortality rates.
Aradel Holdings Plc announced a record-breaking N728 billion Q1 revenue for 2026, marking a 264.5% surge.
Australia has raised the minimum salary requirement for foreign workers seeking employer-sponsored visas to AUD 76,515, impacting skilled migration categories.
The Nigerian Federal Government has announced payments of approximately N333 billion to eight electricity generation companies (GenCos) as part of its power sector debt settlement program, and has launched a second N729 billion bond issuance to investors.
Nigeria is facing various economic and political challenges, including debates over state finances, a dollar sale row affecting fuel loading, and the government raising bonds to clear debts. Political parties are also preparing for the 2027 elections, while concerns about malnutrition and poverty among children persist.
A six-vehicle accident occurred on national road 72 between Ploiești and Târgoviște in Prahova county, injuring two people and restricting traffic.
Former Nigerian oil minister Diezani Alison-Madueke has categorically denied all corruption charges in her UK trial, stating in court that she never asked for, took, or received any bribes and did not abuse her office.
The Nigerian Exchange saw a major NGX market decline, shedding N725bn as investors engaged in profit-taking. Learn about the impact on blue-chip stocks. Read More: https://punchng.com/profit-taking-drags-ngx-lower-market-cap-sheds-n725bn/
The Nigerian Federal Government has settled N333 billion in debts owed to Generation Companies (GenCos) and issued N729 billion in bonds to investors. This move aims to address outstanding financial obligations in the power sector.
The Nigerian stock market experienced a significant rebound on Tuesday, with investors gaining N720 billion due to renewed buying interest.
The incident happened on the N72 at around 2.20am.
The National Drug Law Enforcement Agency (NDLEA) announced a significant cannabis seizure in Edo State, intercepting 483 bags valued at N724.5 million and arresting five suspects in the major drug bust.