Efforts are currently underway to restore power after the Nigerian national grid collapsed on November 5, 2024, at approximately 1:52 PM. The Transmission Company of Nigeria (TCN) has deployed engineers to address the issue, with an expected restoration time of several hours. “Our team is working tirelessly to ensure that bulk power supply is restored Read More…
Business
A scapegoat called Dangote
The rich also cry. I have seen wealthy and successful people break down in tears and despondency. You would think that some people have everything made in their favour; the sun smiles at everything that they do. The gods are queuing to crack the rich man’s kernels lest he bites his tongue while attempting the Read More…
Moniepoint achieves ‘unicorn’ status with $110 Million investment
In a significant milestone for Nigeria’s fintech sector, Moniepoint has achieved “unicorn” status after raising $110 million from investors, including Google. This development is a rare bright spot in an otherwise challenging funding environment for African technology companies. The funding round, led by London-based private equity firm Development Partners International (DPI) and supported by Google’s Read More…
President Tinubu rejects NEC’s proposal to withdraw tax reform bills
President Bola Tinubu has decisively rejected the National Economic Council’s (NEC) recommendation to withdraw the proposed tax reform bills currently before the National Assembly. This decision underscores his commitment to allowing the legislative process to proceed, ensuring that necessary inputs and changes can be made without withdrawing the bills. “The legislative process, which has already Read More…
Akwa Ibom Governor reassures public on economic benefits of multi-billion Naira Ibom Towers project in Lagos
Governor Umo Eno of Akwa Ibom State has addressed concerns surrounding the multi-billion naira 18-storey Ibom Towers project in Lagos. Amidst criticisms from individuals and Civil Society Organisations (CSOs) about potential capital flight from Akwa Ibom State, Governor Eno has reassured the public of the project’s benefits. During the project’s flag-off in Victoria Island, he Read More…
NNPC Ltd releases estimated pump prices of petrol from Dangote Refinery, based on September 2024 supply
The Nigerian National Petroleum Corporation (NNPC) Limited has announced the estimated pump prices of Premium Motor Spirit (PMS), popularly known as petrol, for retail stations across the country, following negotiations with the Dangote Refinery. In a press statement released on Monday, the NNPC revealed that the new prices reflect the cost of PMS supplied from Read More…
Dangote Group refutes NNPCL fuel price claims
In a recent press statement, the Dangote Group has firmly denied claims made by the Nigerian National Petroleum Company Limited (NNPCL) regarding the sale price of Premium Motor Spirit (PMS). The NNPCL spokesperson, Mr. Olufemi Soneye, alleged that Dangote sold PMS at an exorbitant rate of N898 per litre. This statement, according to Dangote Group, Read More…
Sanwo-Olu calls smart packaging a national priority for food security
Lagos State Governor, Babajide Sanwo-Olu, has emphasized that smart packaging is critical for ensuring food security in Nigeria, boosting non-oil exports, and enhancing foreign exchange earnings. Speaking at the 11th edition of the Propak West Africa 2024 Smart Packaging Conference, held in Victoria Island, Lagos, Sanwo-Olu called it a “national priority” that can redefine the Read More…
FCCPC issues one-month deadline to traders bring down prices
The Federal Competition and Consumer Protection Commission (FCCPC) has issued a one-month moratorium to traders and market stakeholders involved in exploitative pricing, urging them to reduce the prices of goods. This announcement was made by the newly appointed Executive Vice Chairman of the FCCPC, Mr. Tunji Bello, during a one-day stakeholders engagement on exploitative pricing Read More…
Former Airtel Africa boss appointed new chairman of Nigeria Sovereign Investment Authority
Mr. Segun Ogunsanya, the former CEO of Airtel Africa, has been appointed as the new Chairman of the Nigeria Sovereign Investment Authority (NSIA). This significant move, aimed at bolstering the nation’s economic stability, was officially announced by the Honourable Minister of Finance and Coordinating Minister of the Economy, Mr. Wale Edun, at the Ministry of Read More…