OPS fears SMEs’ collapse as cash scarcity lingers

OPS fears SMEs’ collapse as cash scarcity lingers

The Organised Private Sector has joined the call on the Central Bank of Nigeria to address the cash scarcity witnessed nationwide, stressing that the country is not developed enough for cashless transactions. Members of the OPS pointed out that the scarcity of cash has adversely affected businesses, especially those in the Micro, Small, and Medium Enterprises category, as they expressed fears of an imminent collapse of MSMEs. “While the intent […]

December 16, 2024 8

NEWS

How I survived death at Ebonyi building collapse – Labourer

A labourer, Nkwegu Shadrach, has narrated why he was not affected by the building collapse that occurred on Tuesday evening in the Abakaliki metropolis of Ebonyi State. The three-storey building located within the premises of the Alex Ekwueme Federal University Teaching Hospital Abakaliki I, Ebonyi State, collapsed when some construction workers were working inside it. The building, which collapsed to the foundation level, is owned by the member representing Afikpo […]

June 20, 2024 24

BUSINESS

Grid collapse: FG deploys technology to detect sudden power drop

In a bid to address the recurrent collapse of Nigeria’s power grid, the Federal Government has deployed a new technology to detect and respond to sudden drops or dips in power generation across the country. It announced this through the Transmission Company of Nigeria on Wednesday, stating that the new Generation Dip/Loss Detection System would advance TCN’s grid management capabilities.

April 18, 2024 34

NEWS

Power generation crashes to 59MW after fresh grid collapse

Power generation on the national grid crashed to 59.9 megawatts around 12 pm on Sunday as the country’s grid witnessed a nationwide collapse. Data obtained from the Federal Ministry of Power showed that electricity generation on the grid plunged from 2,658.75MW at 11 am to 59.9MW by 12 noon on Sunday, as power distributors lost supply from the grid. This led to widespread blackouts across the country, as power distribution […]

February 5, 2024 19

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