Economy
MTN Nigeria’s Revenue Surges By 35.6% In March After Tariff Adjustments

MTN Nigeria’s Revenue Surges By 35.6% In March After Tariff Adjustments
MTN Nigeria’s revenue surges by 35.6% in March after tariff adjustments. MTN Nigeria’s service revenue surged by 35.6% in March following tariff adjustments implemented in February.
A report by its group office in South Africa on Monday, also said expectations for further growth in 2025 are expected from the country following the tariff adjustments.
This is as the MTN Group reported a 69% slump in full-year earnings, due to devaluation of the Nigerian naira and operational challenges in Sudan.
It reported headline earnings per share (HEPS) – one of the main profit measures in the country – fell to 98 cents in the year to December 31, down from 315 cents in 2023.
“Despite challenges including currency depreciation in Nigeria, elevated inflation, and ongoing conflict in Sudan,” MTN Group’s President & Chief Executive Officer, Ralph Mupita expressed optimism about the future.
He noted signs of easing inflation, reduced forex volatility—particularly for the naira—and the positive impact of tariff adjustments in Nigeria. “In Nigeria, we renegotiated tower lease contracts, which allow MTN Nigeria to better manage adverse macroeconomic impacts on the business.

MTN Nigeria
“MTN Group is well positioned to capture the exciting opportunities in our markets and deliver on our medium-term objectives to sustain growth, create shared value in nation-states and communities, and unlock value for our stakeholders,” Mupita stated.
Nigeria has suffered chronic dollar shortages that have forced authorities to devalue the naira as part of the government’s measures to stabilise the currency and attract investment.
Coupled with high inflation and interest rates, this has driven up costs and widened MTN Nigeria’s pretax loss by more than 200% to 550.3 billion naira ($355.76 million).
Economy
Strike: NASU Gives WAEC 7-Day Ultimatum

Strike: NASU Gives WAEC 7-Day Ultimatum
Strike: NASU gives WAEC 7-day ultimatum. The Non-Academic Staff Union of Educational and Associated Institutions (NASU) has issued a seven-day ultimatum to the West African Examinations Council (WAEC) management to address a four-point demand related to workers’ welfare and alleged victimization of labor leaders.

NASU Gives WAEC 7-Day
Speaking at a press conference in Lagos on Monday, NASU General Secretary, Prince Peters Adeyemi, warned that all WAEC offices across the country would be shut down from Monday, March 24, if the demands are not met.
Economy
Akwa Ibom LG Chairman Sets To Report Construction Company For Poor Performance

Akwa Ibom LG Chairman Sets To Report Construction Company For Poor Performance
Akwa Ibom LG Chairman sets to report construction company for poor performance. Ikot Ekpene Chairman, Hon. Aniefiok Nkom, has threatened to send digital copies of the Ikot Ekpene – Aba road one-lane construction to Senate President, Senator Godswill Akpabio, despite allegedly underperforming as a council chairman in recent months.
Nkom, whose achievements have been limited to painting the old Ikot Ekpene council secretariat, grading truck parks, and providing limited educational support JAMB forms, made this announcement during a peaceful demonstration by students of Akwa Ibom State Polytechnic, Ikot Osurua.
The students were protesting persistent brutality and harassment by officers from the Nigerian Police Force, Ikot Ekpene Division, and QIU, Ikot Ekpene Division.
The council chairman accused the construction company, Messrs CGGC Global Projects Nigeria Limited, of building a one-lane carriage instead of the approved dualized road, referencing Contract No.6569 and Project Code ERGP12141436 under the Federal Ministry of Works and Housing, awarded in 2019.
Nkom stated, “For those of us from Ikot Ekpene, you have seen this road. For those coming from Aba, you can see where they stopped the dual carriage.
Now, they are constructing a single lane to Ikot Ekpene. This is what we are talking about when we mention injustice.”

Akwa Ibom
He further mentioned his intention to document the road’s condition with NTA and send the footage to the Senate President, calling the situation a serious embarrassment to Akwa Ibom State.
Addressing the issue of police brutality against Akwa Ibom State Polytechnic students, Nkom asserted that any policeman or army officer who harasses a student without any offense will face consequences, urging students to always carry their identity cards.
Economy
PenOp Vows To Comply With PenCom’s 3-Day Pension Payment Directive

PenOp Vows To Comply With PenCom’s 3-Day Pension Payment Directive
PenOp vows to comply with PenCom’s 3-day pension payment directive. The Pension Fund Operators Association of Nigeria (PenOp) has assured the National Pension Commission (PenCom) that its members will comply with the recent directive to settle all pension benefits within three working days.
The National Pension Commission has mandated Pension Fund Administrators (PFAs) and fund custodians to approve and pay pension benefits to eligible applicants within three working days of receiving complete applications.
Oguche Agudah, chief executive officer of PenOp, speaking in Lagos, said that the directive was positive and could foster accountability.
Mr Agudah said PenOp members were fully aligned with PenCom’s efforts to enhance the efficiency and effectiveness of the pension system in Nigeria.
He said, “This is a good development for pensioners, Pension Fund Administrators (PFAs), and the entire system.

PenOp Vows To Comply
“PFAs are going to comply with this new directive, which is set to begin in June. We will ensure service levels are maintained, and we will also ensure people get their money as and when due.
“We recognise the importance of timely payment of pension benefits to retirees, and we are committed to working with PenCom to achieve this goal.”
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