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BUSINESS

International consumers owe Nigeria $51m for electricity — FG

International consumers failed to remit about $51.26m to Nigeria for electricity exported from Nigeria to the power users in 2023, the Federal Government revealed in the latest industry data showing the non-remittances by the consumers. Also, another group of customers categorised as bilateral power consumers did not remit about N7.61bn to the Nigerian power sector in 2023. The Nigerian Electricity Regulatory Commission condemned the development, describing it as a payment […]

todayMay 27, 2024 20

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BUSINESS

Ex-senator calls for establishment of food intelligence agency

A former Senator, who represented Ebonyi Central Senatorial Zone, Emmanuel Onwe has called for the establishment of the proposed Food Intelligence Agency to support the recent Federal Government declaration of emergency in food production and security. Onwe made the call on Sunday in Enugu while briefing journalists on his Open Letter to President Bola Tinubu, titled, “Declaration of a State of Emergency on Food Security and ‘Commodification of the Naira […]

todayMay 20, 2024 11

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BUSINESS

Nigeria eyes 10,000MW hydropower for sustainable electricity

While acknowledging the immense potential for hydropower development in Africa, he said it is important to also consider responsible development. He said, “We must address environmental concerns around dam construction and ecosystem disruption, alongside social impacts on local communities. This requires a commitment to sustainability, stakeholder engagement, and innovative solutions to financing these large-scale projects.” The minister previously stated that for several decades, hydropower has played a significant role in […]

todayMay 16, 2024 8

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NEWS

FG plans performance-based salary scheme for workers

A new wage system based on employee’s productivity in the civil service is underway, the Federal Government said on Monday. The government said with the system, workers on the same level could earn different salaries. The government said the formulation of an innovative wage system was being considered because it realised that productivity was a key factor in the growth of the country’s economy. The Director-General of the National Productivity […]

todayMay 14, 2024 20

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BUSINESS

FG woos global investors for 17 oil blocks

The Federal Government, on Tuesday, offered 12 oil blocks and five deep offshore assets for sale as it marketed the assets to global oil sector investors at the ongoing 2024 Offshore Technology Conference in Houston, United States. Speaking at the African Oil Industry Opportunities Session, a side event at the 2024 Offshore Technology Conference, the Chief Executive, Nigerian Upstream Regulatory Commission, Gbenga Komolafe, told investors at the gathering that Nigeria […]

todayMay 8, 2024 24 2

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NEWS

Man in custody for allegedly stealing phones in Ekiti churches

Luck has run out of a man, Babatunde Olaoluwa, who allegedly had been pretending as a worshipper only to dispossess people in churches of their phones in the Oye Ekiti and Ayegbaju areas of the state. The Commissioner of Police, Ekiti State Command, Mr Adeniran Akinwale, said the suspect was arrested on Saturday evening after allegedly making away with seven phones belonging to different worshippers at Christ Apostolic Church, Ayegbaju […]

todayMay 6, 2024 8

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ENTERTAINMNET

Actress, Eniola Ajao reveals reason for shielding 21-year-old son from social media

Nollywood actress, Eniola Ajao, has revealed why she kept her 21-year-old son, Ayomide Daniel, away from social media. Ajao said the decision was taken even before she ventured into the movie industry, adding that it was supposed to stem off stigma attached to being a single mother. “It was something I decided a long time ago before I even considered pursuing a career in the entertainment industry. “When I had […]

todayMay 3, 2024 42

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NEWS

Forex: MTN, Glo, others seek NCC nod for tariff hike

Telecommunications operators in the country including MTN Nigeria and Globacom have asked for Federal Government approval through the Nigerian Communications Commission to raise their tariff. The development came after foreign exchange losses and rising energy costs forced some of the operators to post losses last year. The telcos’ proposal to raise their tariff came barely 24 hours after MultiChoice, a South African pay television company raised its tariff. Several companies […]

todayApril 26, 2024 27

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