Nigeria News

Cow dealers, OPC bloody clash regrettable – Kwara Gov
Kwara State Governor, AbdulRahman AbdulRazaq has reacted to last Friday’s bloody clash between cow dealers and Odua Peoples Congress, OPC, at Kara Market in Ajasse-Ipo town, cautioning people against violent reaction to issues for whatever reasons. some persons were killed in the bloody clash, while several others were injured, according to police reports. The incident […]

Strike: ASUU meets FG, resumes negotiation
The Academic Staff Union of Universities (ASUU) is scheduled to meet with Federal Government representatives on Tuesday over its prolonged strike. President of ASUU, Professor Emmanuel Osodeke, who disclosed this on Monday while speaking on Channels Television’s Politics Today, said the meeting was to discuss one of seven issues ASUU is protesting over. “That’s the […]
Politics

INEC displays voters’ register in Lagos
The Independent National Electoral Commission (INEC) in Lagos State has displayed the register of newly registered voters. The electoral umpire called on residents to check the register for respective claims and objections. Resident Electoral Commissioner, Olusegun Agbaje issued a statement on Monday through the Public Relations Officer, Adenike Oriowo. INEC explained that the publication was […]
Business

Nigerians’ seven-month expenditure on utility bills hits N1.69tn
Nigerians spent N1.69tn electronically on utility bills such as power, Pay TV subscriptions, and other everyday utilities in the first seven months of 2022, according to data from the Nigeria Inter-Bank Settlement System. This is a 32.06 per cent increase from the N1.28tn that was electronically spent on utilities in the corresponding period of 2021. […]

Power intervention fund jumps to N2.9trn
The Federal Government’s intervention fund to the electricity distribution companies has risen to N2.9trn, from N2trn recorded as of May this year. This indicates a 45 per cent increase over the period. By estimation, the N2.9trn is the total funding extended to the sector since privatisation in 2013. The Director-General, Bureau of Public Enterprise, Alex […]

BoI disburses N1.2tn to enterprises in six years
The Bank of Industry said it disbursed over N1.2tn to 4,205,920 enterprises and created over 9,048,444m estimated direct and indirect jobs between 2015 and 2021. The bank said in a statement on Monday that the successful completion of €1bn Guaranteed Senior Loan Facility to further enhance its capacity to deliver on its mandate, in line […]

Fuel subsidy hits N1.593tn, refinery rehabilitation gulps N54.66bn
Latest data on the amount spent in subsidising Premium Motor Spirit, popularly called petrol, seen in Abuja on Monday showed that the government subsidised the commodity with N1.593tn between January and June 2022. It was also gathered that the Nigerian National Petroleum Company Limited pumped N54.66bn into refinery rehabilitation during the six months period. Figures […]

Seven-month cashless transactions rise 41%, hit N210tn
Cashless transactions in Nigeria rose by 40.66 per cent year-on-year to N210.08 trillion in the first seven months of 2022, according to data from the Nigeria Inter-Bank Settlement System, NIBSS. From January to July 2022, N210.08tn was processed on the Nigeria Instant Payment System (NIP) and Point of Sales terminals (PoS), which explain how cashless […]

18 terminal operators owe FG $753m, N1.61bn – AGF
The Office of the Auditor General for the Federation has queried the Nigerian Ports Authority over the failure of 18 port terminal operators to remit total sums of $753m and N1.61bn to the Federal Government. These operators are the Lagos Port Complex, Tin Can Island Port, Delta Port, Rivers Port Complex, Onne Port Complex and […]

Stock investors lose N571bn in one week
Investors lost N571bn at the end of trading on the floor of the Nigerian Exchange Limited last week. The NGX All-Share Index and market capitalisation of equities listed on the NGX depreciated by 2.09 per cent to close at 49,664.07 and N26.787tn last week. All other indices finished lower with the exception of The NGX […]

Nigeria’s N9tn oil revenue threatened, FG blames theft
Nigeria’s oil production slumped by 28 million barrels between January and July 2022, threatening the Federal Government’s N9.37tn oil and gas revenue target by the end of the year. The Federal Government, in the 2023-2035 Medium Term Expenditure Framework & Fiscal Strategy Paper recently presented by the Minister of Finance, Budget and National Planning, Dr […]

LCCI cautions FG on rising debt
The Lagos Chamber of Commerce and Industry has expressed worries over debt servicing cost of the Federal Government and advised it to consider deficit financing from equity instead of expensive debts spent on recurrent expenditures. The chamber made the call in a statement signed by its president, Michael Olawale-Cole, titled ‘LCCI statement on Nigeria’s debt […]

NNPC, IOCs sign agreements to generate $500bn revenue
The Nigerian National Petroleum Company Limited and international oil companies operating in Nigeria, on Friday, signed various agreements that would ensure the production of about 10 billion barrels of crude oil and generate over $500bn revenue to all parties involved. NNPC officials and their counterparts from the IOCs including Shell, Chevron, Texaco, Sinopec, Sapetro, Esso […]
Energy/Oil&Gas

24 hours power supply: Ikeja Electric sign tripartite agreement with Enaro Energy and Ayobo community
Ikeja Electric Plc, Nigeria’s leading electricity distribution company, has signed a Tripartite Interconnected Mini-Grid Agreement with Enaro Energy Limited and Ayobo community, to provide reliable and uninterrupted electricity supply to Ishokan Phase1 Estate, Mercy Land Estate and Mercy Land Phase1 residents in Ayobo, Lagos State. The initiative is in line with the Nigerian Electricity Regulation […]
Opinion

Sam Omatseye: After Obi, let’s talk Tinubu
By Sunny Igboanugo The more I tried to ignore Sam Omatsaye’s diatribe, where he practically threw faeces on Peter Obi, the more something continues to urge me to respond. Because I don’t really know what it is all about – I must confess, I can’t really make head or tail of it all – I […]