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Renaissance Capital Africa report suggests that 2024 has a positive outlook for Nigeria with a strengthening currency and a rise in oil prices. Its latest report on economy review says that at the March 28 level of N1,303/$, the Nigerian naira is still largely undervalued to its long-term average, to the tune of 30 per cent. The research firm also stated that the capital market is setting for a good […]
Forbes has listed Nigerian businessmen, Aliko Dangote, Mike Adenuga, Abdulsamad Rabiu and Femi Otedola, as the top richest Nigerians in 2024. This comes as the combined wealth of Nigeria’s top three richest businessmen dropped slightly by 11.23 per cent to $25.3bn, according to the Forbes Real-Time Billionaires released on Tuesday. The three Nigerians are the President/Chief Executive of the Dangote Group, Aliko Dangote; BUA Group Chairman, Abdul Samad Rabiu, and […]
Despite the persistent epileptic power supply nationwide, revenue generation by electricity distribution companies in Nigeria surged to N1.1trn within the 12 months of 2023, a new report has revealed. The figure represents an increase of N234.4bn or 28.2 per cent from the N831bn generated by the power firms over a similar period in 2022. This latest data was disclosed in the electricity report released by the National Bureau of Statistics […]
Troops of the Nigerian Army in separate operations conducted in Zamafara and Katsina states killed no fewer than 11 terrorists. The terrorists were killed following a raid on terrorist kingpin enclaves in the states. In Zamafara, the hideout of a terrorist leader, Hassan Yantagwaye, in the Tsafe Local Government Area was raided which resulted in a gun battle with two of his men killed in the operation. This was contained […]
The Federal Government, on Monday, announced that the new price of natural gas for power generation companies is now $2.42 per metric million British thermal unit, higher than the previous rate of $2.18mmbtu. Nigeria generates over 70 per cent of its electricity from thermal power plants that are fired by gas. Therefore, the rise in the cost of the commodity may lead to a hike in the tariff payable by […]
Members of the Traditional Council of Chiefs, Ewu-Urhobo in Delta State, have called for the immediate release of the detained monarch of Ewu Kingdom, Clement Ikolo. They said the monarch was not connected to the communal crisis that led to the recent killing of 17 military personnel in the Okuama community in the Ughelli Local Government Area of the state. “His Majesty is in no way associated with the ongoing […]
Kogo State Governor, Ahmed Ododo, has commiserated with the families of the Obajana accident victims. The accident, which occurred on Sunday night, claimed the lives of 13 bus passengers and left two others injured. The Federal Road Safety Corps, on Monday, said 13 persons died while 21 were injured in separate auto crashes in Kogi and Benue states. The Kogi FRSC Sector Commander, Samuel Oyedeji, informed journalists in Lokoja, the […]
The Kano State Police Command has arrested a 25-year-old suspect identified as Abba Ibrahim for allegedly stabbing 22-year-old Zaharadeen Iliyasi in the neck with a knife, causing his death. This was according to a statement on Monday by the spokesperson for the command, SP Abdullahi Kiyawa. According to the statement, on receiving information about the incident, the state Commissioner of Police, Mohammed Gumel, ordered all entry and exit points in […]
Former Nigeria youth international, Nnamdi Ofoborh, is thrilled to have returned to football action after spending three years on the sidelines due to a heart problem. The former Glasgow Rangers midfielder made his first appearance for English fourth division side Swindon Town last Friday when he replaced Ricky Aguair with five minutes left to play in their 2-1 win over Nott County. He also made his first start on Monday playing […]
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