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Economics at punchng.com

Thursday, Jul 18

18

JUST IN: Why we accepted N70,000 minimum wage- NLC

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The President of the Nigeria Labour Congress, Joe Ajaero on Thursday gave reasons why the Organized Labour accepted the proposal of N70,000 minimum wage from the President, Bola Tinubu. Ajaero, who spoke to State House reporters after the…

17

Minimum wage: Labour leaders arrive Villa

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Leaders of the organised Labour consisting of the Nigeria Labour Congress and the Trade Union Congress of Nigeria have arrived at the Aso Rock Presidential Villa for the second leg of talks on the national minimum wage. A white State House…

16

Biden cancels $1.2bn more in student debt as vote nears

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US President Joe Biden said Thursday he was extending his student loan forgiveness program by cancelling the loans of an additional 35,000 Americans as he seeks reelection. The latest move — amounting to $1.2 billion in student debt —…

JAMB excludes inmates, albinos, PWDs from Post-UTME

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The Joint Admissions and Matriculation Board on Thursday announced categories of candidates to be excluded from the post Unified Tertiary Matriculation Examination popularly known as Post-UTME. The Registrar, JAMB, Prof. Ishaq Oloyede,…

15

Oyo to provide health insurance for 10,000 pupils

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The Oyo State Health Insurance Agency has reeled out plans to provide health insurance coverage for 10,000 pupils in the state. This, according to the Executive Secretary of the Agency, Dr Sola Akande, is in furtherance of Governor Seyi…

BREAKING: Tinubu approves N70,000 minimum wage

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President Bola Tinubu has approved N70,000 as the new minimum wage for Nigerian workers with a promise to review the national minimum wage law every three years. This is coming after the leadership of the Nigeria Labour Congress and the…

11

FG bans admissions for under 18 into tertiary institutions

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The Minister of Education, Prof. Tahir Mamman, on Thursday announced a ban on admissions for candidates under the age of 18 into tertiary institutions in the country. Mamman announced during the 2024 policy meeting of the Joint Admissions…

10

Italy probes Google over unfair user data practices

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Italy’s competition watchdog said Thursday that it had opened an investigation into Google and its parent company Alphabet over suspected “unfair commercial practices” linked to user data consent requests sent to consumers. “The request…

09

PiggyVest Named Among World’s Top 250 Fintech Companies By CNBC

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PiggyVest, Africa’s leading online savings and investing platform, has been recognised as one of the top 250 fintech companies globally for 2024. The World’s Top 250 Fintech Companies 2024 report by CNBC, in collaboration with market…

Taxation lifeblood of any government, says Ondo gov

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The Ondo State Government, in collaboration Joint Tax Board, on Wednesday, began training for some staff of revenue service departments of the six states of the South West on tax audit, investigation, compliance and enforcement. The…

07

It’s fake news, Ooni’s palace denies marriage trending story

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The Palace of the Ooni of Ife, Osun State has denied allegations of a marriage scam involving the monarch, Oba Adeyeye Ogunwusi, describing the story as fake news. In a statement sent to PUNCH Online on Thursday the Director of Media and…

Trump’s running mate pledges ‘new path’ at Republican convention

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Donald Trump’s vice presidential pick J.D. Vance lit up the Republican National Convention Wednesday with a speech leaning heavily on his personal story as he sought to connect his turbulent upbringing with the hardships faced by millions…

04

N’Assembly mulls stricter laws to tackle crude oil theft

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The National Assembly has thrown its weight behind the Nigerian National Petroleum Corporation Limited’s ongoing efforts to boost crude oil production and grow its reserves, saying it will consider stiffer consequences for crude oil…

Paris Games: Reps back Team Nigeria with N100m

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The House of Representatives on Wednesday announced the donation of N100 million to Nigeria’s 2024 Olympics and Paralympics contingent to the forthcoming Games billed for Paris, France. The Deputy Speaker, House of Representatives,…

03

PalmPay sustains zero-fee transfer to drive financial inclusion

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Financial technology firm PalmPay said it would continue to give its users unlimited free transfers to all banks to drive financial inclusion. According to the fintech, this feature introduced earlier in the year has allowed users to make…

Sterling Bank, Lagos partner on ‘Ilera Eko’ health initiative

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Sterling Bank Limited has partnered with the Lagos State Government through the Lagos State Health Management Agency to launch the Ilera Eko healthcare booths. A statement from the bank on Wednesday said the initiative was launched by the…

Tinubu names Walson-Jack new Head of Service

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President Bola Tinubu on Wednesday approved the appointment of Mrs. Didi Walson-Jack as Head of the Civil Service of the Federation, with effect from August 14, 2024. Walson-Jack’s appointment was announced in a statement by Tinubu’s…

Petrol landing cost now N1,117/litre – Marketers

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The landing cost of Premium Motor Spirit, also known as petrol, was N1,117/litre as of Tuesday, July 16, 2024, the Major Energies Marketers Association of Nigeria announced on Wednesday. MEMAN disclosed this during a webinar with…

Why wage increase is good for economy

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Wage increase for workers has the propensity to spur domestic demand, boost supply and expand local productivity. It can also enhance domestic liquidity and create a robust and efficient market capable of attracting foreign and local…

Reduced cost of governance will boost infrastructure provision

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A system that has plunged us into this mess cannot bring us back from the brink. It cannot be business as usual if we want to get out of the woods. So far, no political party has given a policy thrust that will bring us back from the…

02

SEC’s ERM directive aligns with banking standards – CRMI

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The Chartered Risk Management Institute of Nigeria has expressed support for the Securities and Exchange Commission’s directive for capital market operators to implement an Enterprise Risk Management framework. In June, the SEC directed…

Schneider Electric recommits to tackling electrical fire risk

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Schneider Electric, a global leader in energy management and automation, has reaffirmed its commitment to advancing the United Nations’ 2030 Sustainable Development Goal 11, focusing on making cities and human settlements inclusive, safe,…

Netherlands boosts Nigeria’s energy transition with solar platform

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The Netherlands government has launched an online solar marketplace to help Nigeria’s transition from fossil fuels to clean energy, connecting business opportunities and facilitating tailored networking between public and private…

Blackout: Kano DisCo eyes 60MW from 41 solar plants

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In a bid to reduce power outages in its franchise areas, the Kano Electricity Distribution Company has partnered with different renewable companies to build solar mini-grids of 60 megawatts in 41 locations across Kano, Katsina and Jigawa…

Blue economy key to youth empowerment, says Oyetola

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The Minister of Marine and Blue Economy, Adegboyega Oyetola, has said that the blue economy is key to youth employment in the country. The minister tasked the youths to take advantage of the potential in the maritime sector to contribute…

Firm launches learning, marketplace platform in Africa

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A one-stop learning and marketplace platform, CertMart, has been launched on Wednesday. Aiming to become the biggest learning platform in Africa, CertMart links learners with expert trainers at certified hubs and workspaces,…

Winnipeg Naija Trade Fair showcases 100 Nigerian businesses in Canada

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More than 100 businesses showcased their offerings at the maiden edition of the Winnipeg Naija Trade Fair in Canada. The Tradefair, which was held recently was organised by the Canada Naija-Business Hub and Nigerians in Winnipeg to…

IOCs still causing crude supply crisis, Dangote refinery cries out

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The Management of Dangote Industries Limited has insisted that the international oil companies are still frustrating crude supply to its 650,000-capacity refinery. The management said this even as it commended the Nigerian Upstream…

N80bn fraud: Judge rejects Yahaya Bello’s request to stop arraignment

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The Federal High Court in Abuja, on Wednesday, rejected the application for a stay of proceedings brought before it in the N80.2bn fraud case instituted by the Economic and Financial Crimes Commission against the immediate-past governor of…

NNPC doesn’t need FG’s approval to borrow $2bn – Analysts

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Energy analysts have stated that the Nigerian National Petroleum Company Limited can obtain loans without the Federal Government’s approval. Responding to criticism over NNPC’s plan to secure a $20bn oil-backed loan from undisclosed…