Nigeria News
Reps spokesman commends Tinubu’s minister for halting N-Power
The Deputy Spokesman of the House of Representatives, Chief Philip Agbese, has welcomed the decision of the Minister of Humanitarian Affairs and Poverty Alleviation, Betta Edu, to suspend the -Power scheme. recalls that the minister had in October, a few months after her appointment by President Bola Tinubu, suspended the scheme following controversies surrounding it. […]
FRSC to impound vehicles conveying humans, animals together
Following Sunday’s killing of 18 persons in a crash involving an articulated vehicle on the Abuja-Kaduna Highway, the Federal Road Safety Corps, FRSC, Corps Marshal, Mr Dauda Biu, has directed that vehicles conveying humans and animals together should be impounded. Apart from those that died in the Sunday crash, 27 other passengers sustained injuries in […]
Politics
2024 budget aimed at impoverishing Nigerians – PRP
The Peoples Redemption Party (PRP) has said that the 2024 budget recently submitted to the National Assembly by President Bola Tinubu was aimed at continuous impoverishment of the people. It said a government that claimed to have inherited a bankrupt and empty treasury appears not to be circumspect of the state as its actions particularly […]
Business
Banking index rises by 6% despite concerns over capital
During the past week, the banking index of the Nigeria Exchange Limited recorded the highest gain of 6.08 per cent week-on-week compared to other indexes on the local bourse as investors’ wealth grew by N66bn. Banking stocks enjoyed considerable patronage from investors during the week which pushed the industry to a 5.01 per cent gain […]
Banks, customers lament low supply, as cash scarcity worsens
THE prevailing scarcity of cash worsened, weekend, with banks lamenting low cash supply from the Central Bank of Nigeria, CBN. Also, customers were worst hit, as many of them could not withdraw cash after visits to many bank branches and ATMs. Vanguard investigation showed that bank customers encountered either empty ATMs in most bank branches or […]
$792m trapped funds: Foreign airlines at break point, may exit Nigeria’s airspace — IATA
There are indications that foreign airlines may be planning to exit Nigeria’s airspace soon at the backdrop of the worsening operating environment. This is coming amidst several exits of foreign businesses from the country this year, the latest being Procter & Gamble of United States, which announced their decision pull out last week barely months after another […]
Africa’s annual loss to carbon tax may hit $25bn – AfDB
African Development Bank Group President, Dr Akinwumi Adesina, has warned that a new EU carbon border tax could significantly constrain Africa’s trade and industrialisation progress by penalising value-added exports including steel, cement, iron, aluminium and fertilizers. While addressing delegates at the Sustainable Trade Africa Conference held at the UAE Trade Centre in Dubai, Adesina said, […]
Multichoice hikes DStv, GOTV prices after $72m forex loss
Broadcasting company Multichoice has jacked up the prices of its offerings in Nigeria days after announcing a $72m loss in its financial statement for the third quarter of the year. Checks on the company’s reviewed price list showed a 20 per cent per cent hike in the company’s packages across the board. With the latest […]
LCCI, NECA fume over exit of P&G, other multinationals
The Lagos Chamber of Commerce and Industry (LCCI) and the Nigeria Employers’ Consultative Association (NECA), have expressed disgust over the planned exit of Procter & Gamble, P&G, not long after Nampak, GlaxoSmithKline and others exited Nigeria, blaming stringent regulatory and legislative environment, poor infrastructure and policy inconsistencies for the difficulties faced by businesses. NECA, however, commended the […]
Banks to disconnect non-deposit financial institutions from funds transfers
The Nigeria Inter-Bank Settlement System (NIBSS) has directed banks, and other financial institutions to disconnect switches, payment solution service providers, and super agents from its Instant Payment Outwards System (fund transfer channels). NIBSS disclosed this in a circular dated December 5, 2023, with Ref: NIBSS/BD/NI/PO/005/051223 to Deposit Money Banks, merchant banks, switches, mobile money operators, payment […]
Dangote refinery gets first crude supply
The first crude feedstock for Dangote’s 650,000 b/d refinery has arrived the country, according to SP Global quoting market sources and tanker tracking data. The analytical firm said the development indicated that fuel production at the new $19 billion facility is finally set to start after years of delays. According to the report; the OTIS […]
Polaris Bank Signs Up To PAPPS To Ease Customers Cross Border Payment
Polaris Bank, Nigeria’s leading digital retail Bank, has enrolled in the Pan-African Payment and Settlement System (PAPSS). The cross-border financial infrastructure empowers the Bank’s existing and potential customers to execute trade and payments across Africa seamlessly. The inter-African trade payment gateway is a solution designed to empower those who trade international within African continent, with […]
Oando & Cross River Government Announce Renewable Energy Plans For The State At COP28
The Conference of the Parties (COP) to the UN Framework Convention on Climate Change (UNFCCC) is an annual international climate summit, where world leaders and stakeholders gather to forge solutions in tackling climate change. The 28th edition (COP28) is currently being held in Dubai, UAE, from 30 November until 12 December 2023. This year’s edition […]
Energy/Oil&Gas
Egbin Power demonstrates commitment to sustainability, holds medical outreach in host communities
Providing access to routine medical check-up reduces vulnerability to life-threatening diseases, thereby promoting good health among community members, Egbin Power Plc has affirmed. The GenCo demonstrated this at its 2023 medical outreach programme organized in conjunction with Cecy Health Consult Ltd to provide free medical check-up for residents in its host communities – Egbin, Ijede […]
Opinion
Rejuvenating Abia after 32 years: The Alex Otti’s giant strides in 100 days
By KAZIE UKO One of the campaign promises of the Abia State Governor, Dr. Alex Otti, OFR, was the establishment of a ministry or an agency that would serve as a special purpose vehicle (SPV) to drive the process of revamping Aba, the commercial capital of the state. Aba featured so strategically in Dr. Otti’s […]
