Electricity transformers and substations meant for the $2.3bn Siemens power project have arrived in the country as the project gains traction, Minister of Power, Adebayo Adelabu, said on Sunday. The development came a few months after the Federal Government renewed…
FULL LIST: NERC unveils Lagos areas enjoying 20-24 hours power supply.
The Nigerian Electricity Regulatory Commission, on Wednesday, approved an increase in electricity tariff for customers under the Band A classification. The Vice Chairman, NERC, Musliu Oseni, said the increase will see the customers paying N225 kilowatt per hour (KW/h) from the…
Dangote, Adenuga, Rabiu, Otedola on Forbes’ 2024 billionaires list
Aliko Dangote, Mike Adenuga, Abdulsamad Rabiu, and Femi Otedola are the only Nigerians who made it into the Forbes 2024 billionaires list. On Tuesday, Forbes said there will be more billionaires in 2024 despite inflation and political unrest. Forbes said…
Dollar falls to N1,280 on black market on CBN policies
The naira has continued to appreciate as the US dollar is currently selling at N1,280 on the parallel market, following the recent foreign exchange (FX) policy measures of the Central Bank of Nigeria (CBN). With the current rate, the Naira has gained…
Goldman Sachs: Naira will appreciate to N1,200/$ in 12 months
The financial institution made this known in a recent research note by its analysts, Andrew Matheny and Bojosi Morule. Goldman Sachs said tackling Nigeria’s currency and external liquidity crisis requires positive real interest rates and capital inflows. The monetary policy committee (MPC)…
Nigerian lawmakers raise concern on crackdown on cryptocurrency platforms, launch probe
The lawmakers noted that the actions of the government recently put the country “in bad light with regards to observance of global statutes on fundamental human rights and rule of law and portrays the country as being dishonest and incompetent.”…
Managing the fallout of economic reform: the need to come together
The Nigerian Labour Congress organised a protest on February 28, 2024. The protest targeted the hardships caused by the economic reform implemented by the Bola Ahmed Tinubu administration. It was planned for two days but was called off after the…
Nigerians will overcome challenges soon — Tinubu
President Bola Tinubu on Wednesday acknowledged the pains all Nigerians were going through, but Nigerians that very soon the country would overcome all the socio-economic challenges. President Tinubu, who said this in Akure, the Ondo State Capital at the residence of…
Bank customers in last-minute rush as NIN-BVN linkage deadline expires March 1
NEWS Bank customers in last-minute rush as NIN-BVN linkage deadline expires March 1 Banks are currently experiencing a surge of customers as the March 1 deadline for the linkage of Nigeria National Identification Numbers (NIN) to Bank Verification Numbers (BVN)…
Alleged Misappropriation: External auditor will examine LP’s accounts – Peter Obi
The presidential candidate of the Labour Party, LP, in the 2023 general elections, Peter Obi, has said an external auditor has been contracted to examine the party’s accounts. Oluchi Opara, the national treasurer of the Labour Party, on Monday, accused…