12 states plan power projects, anger spreads over tariff hike

12 states plan power projects, anger spreads over tariff hike

Lagos, Kano, and 10 other states have concluded plans to start generating power in their respective states in conformity with the Electricity Act 2023. it was gathered on Thursday that some of these states had established their electricity market laws and were waiting for the approval of the Nigerian Electricity Regulatory Commission to have independent regulatory bodies different from the NERC owned by the Federal Government. As the states stepped […]

April 5, 2024 29

BUSINESS

Naira crash pushes raw material imports to N3tn – NBS report

Imports of raw materials into the country rose by 25 per cent to N3tn in 2023. This is according to the Foreign Trade Statistics data published by the National Bureau of Statistics. The major raw materials imported during the period included cane sugar, other lubricating oils meant to be mixed further, preparations of milk containing vegetable fats and oils, mixtures of odoriferous substances, sheets for veneering, among others. Conversely, Nigeria […]

April 5, 2024 7

NEWS

Impeachment: Shaibu gets final chance to open defence

The Deputy Governor of Edo State, Philip Shaibu, on Thursday, failed to show up to open his defence before the seven-man panel probing allegations of perjury and leaking the government’s secrets against him. The retired Justice S. A. Omonuwa-led panel, which had its inaugural sitting on Wednesday in Benin, had adjourned till Thursday for Shaibu to open his defence. The Edo State House of Assembly, which is the petitioner in […]

April 5, 2024 11

NEWS

141 terror cases, 214 kidnappings recorded in eight weeks – IG

The Inspector-General of Police, Olukayode Egbetokun, on Thursday, said 141 terror cases, 214 kidnappings and 537 homicide cases were reported to the police in the last eight weeks. Egbetokun added that 3,685 suspects were apprehended for their participation in various crimes, while 401 kidnap victims were rescued. Egbetokun said this while fielding questions from journalists at the Nigeria Police Force Headquarters, Louis Edet House, Abuja. He said, “I am pleased […]

April 5, 2024 11

NEWS

BREAKING: Gunmen invade Kogi community, many feared dead

Some hoodlums on Friday invaded Agojeju-Odo, a community in Omala Local Government Area of Kogi State. The gun-wielding men were said to have shot community members and burnt houses, Daily Post reports. However, in a telephone interview with the state Police Public Relations Officer, SP William Aya, he confirmed the attack to our correspondent, adding that the state Commissioner of Police, Bethrand Onuoha, has deployed tactical teams to the area. […]

April 5, 2024 14

2

BUSINESS

Naira sells below 1,280/$ at official, parallel markets

The naira began the new month on a bullish note, appreciating to N1,278.58 against the United States dollar from N1,309.39 per dollar recorded last week Thursday. This indicates an increase of N30.81 at the close of trading activity. According to data from FMDQ Securities, the indicative exchange rate for the Nigerian Autonomous Foreign Exchange Market closing below the N1,300 ceiling marks the first instance since January 26 of this year. […]

April 3, 2024 9 2

BUSINESS

Diesel price drops as Dangote sells N1,225/litre, supplies petrol May

• Dealers get one million litres each at N1,225/litre, price drops in Oyo, Lagos, Ogun The pump price of Automotive Gas Oil, popularly called diesel, has dropped from about N1,700/litre which it sold for a few weeks ago, to around N1,350/litre in some locations across the country following the sale of the commodity by the Dangote Petroleum Refinery. It was gathered on Tuesday that the $20bn worth refinery started pumping […]

April 3, 2024 13

BUSINESS

Top 10 richest women in the world 2024

For the fourth consecutive year, Françoise Bettencourt Meyers, heiress to the L’Oréal fortune, holds the title of the world’s richest woman in 2024. Meyers experienced a significant increase in her fortune over the past 12 months, with her net worth climbing to $99.5 billion, marking the largest gain among women on the 2024 list. However, she falls short of joining the esteemed $100 billion club. This year’s Forbes’ World Billionaires […]

April 3, 2024 62

NEWS

Borno police arrest eight over UNIMAID lecturer’s murder

The Borno State Police Command has confirmed the arrest of eight suspects in connection to the alleged murder of a Lecturer at the Department of Physical Health Education at the University of Maiduguri, Dr Kamar Abdulkadir. Abdulkadir was murdered in his office on campus on Sunday. The victim was found on Monday with several injuries inflicted on his body by his killer. The command’s Police Public Relations Officer, Nahun Daso, […]

April 3, 2024 13

Call us +234 (0) 9073530044

news