To avoid a shut down of the nation’s maritime industry operations, the Managing Director of the Nigerian Ports Authority (NPA), Mr Mohammed Bello-Koko, has intervened in recent faceoff between the Maritime Workers Union of Nigeria (MWUN) and marginal field operators of the oil and gas industry over non-compliance with stevedoring regulations. The NPA boss formally […]
The Nigerian Electricity Regulatory Commission (NERC) has hinted of its plans to sell the Kaduna Electricity Distribution Plc (KEDC), the sixth largest power distribution utility over a $130 million indebtedness. The Federal Government, through its Bureau of Public Enterprises (BPE), also owns 40% equity in the firm. A news report from Reuters indicated that the […]
President Bola Tinubu on Monday removed the Executive Vice Chairman/CEO of the Federal Competition and Consumer Protection Commission (FCCPC), Mr. Babatunde Irukera, and the Director-General of the Bureau of Public Enterprises (BPE) from officer with immediate effect. The Special Adviser to the President (Media & Publicity), Chief Ajuri Ngelale, stated that the removal of the […]
The Executive Vice Chairman/Chief Executive Officer of the National Agency for Science and Engineering Infrastructure (NASENI), Mr. Khalil Halilu, has stressed that investing in human capital development and staff motivation remain the best ways of repositioning the agency into a power-house of Science, Technology and Innovation (STI) in the global space. The agency’s boss made this […]
AM Best, a leading global rating agency, has projected that following the modest reinsurance capital recovery recorded in 2023, total reinsurance capital will return to $561 billion in 2024, representing about 2% lower than the prior high watermark of $570 billion set in 2021. A news report from Reinsurance News, an industry-focused online medium, indicates […]
The Nigeria Sovereign Investment Authority (NSIA) and All On, a Nigerian impact investor with focus on renewable energy, have announced a collaborative initiative to deepen electricity supply in energy-deprived communities across the country. Under the arrangement, the partners will deploy Distributed Renewable Energy (DRE), a transformative approach that utilizes small-scale solutions like solar mini-grids and […]
President Bola Tinubu on Monday ordered the immediate suspension of the Minister of Humanitarian Affairs and Poverty Alleviation, Dr. Betta Edu, from office over allegation of financial abuses. The directive, according to a statement issued by the Special Adviser to the President (Media & Publicity), Chief Ajuri Ngelale, is in line with the President’s avowed […]
Investment experts at Bancorp Securities Limited, one of the leading investment research and consulting services firms in Nigeria, have predicted positive outlook for the Nigerian Exchange trading sessions this week, maintaining its current momentum though at a slower pace. The analysts, in the firm’s ‘Weekly Stock Recommendation for Jan 08 – Jan 12, 2024’ sourced […]
In furtherance of its commitment to offset the backlog of pending matured foreign exchange (FX) in Deposit Money Banks (DMBs), the Central Bank of Nigeria (CBN) has disbursed approximately $61.64 million to foreign airlines through various banks. This initiative is part of the CBN’s efforts to decrease its remaining liability to the airlines. The latest […]
The Nigerian Communications Commission (NCC) has approved a partial disconnection of Globacom network operator by MTN over the former’s refusal to pay interconnect debt after several demands by the latter. The regulatory order implies that Globacom’s subscribers will not be able to make calls to any MTN number but can receive inbound calls from MTN […]