The Nigerian Communications Commission (NCC) has reported that Nigeria’s active subscriptions for telecommunications services across the four major mobile networks increases to 218.6 million in November 2022. The latest industry data released by the industry regulator indicated that the increase was largely driven by MTN, which recorded the highest gain of 3.1 million subscriptions in […]
The Federal Government has expressed optimism that the nation’s broadband service and internet access will receive a major boost as Elon Musk’s satellite company, Space X, will roll out Starlink internet service nationwide before the end of this year. To realize this goal, the Federal Government has entered into a partnership with Space X on […]
Anambra State Governor, Prof. Chukwuma Soludo, on Tuesday signed the state’s 2023 Appropriation Bill of N259 billion titled ‘Budget of Acceleration’ into law. In his remarks after the signing the Appropriation Bill Budget of Acceleration at the Governor’s Lodge in Awka, Soludo explained that the 2023 budget was premised on five pillars, namely Security, Law […]
The Minister of Power, Engr. Abubakar Aliyu, has disclosed that the completion of the 1,650mw Makurdi Hydro Power Plant (MHPP) will not only address the energy shortfall in the country, but also mitigate flooding. The minister made this remark at the inauguration of the Project Steering Committee (PSC) for the concession of the Power Plant on Monday, […]
The Lagos State House of Assembly on Monday passed a N1,768,014,155,285 as the proposed budget for 2023 A breakdown of the passed Appropriation Bill indicated that the sum of N748,096,508,571 was proposed as recurrent expenditure and N1,019,917,646,713 as capital expenditure for the 2023 fiscal year. A further analysis of the figures as they relate to […]
The Federal Government on Wednesday disclosed that over N120 billion had been realized as proceeds from criminal financial operations since the Proceeds of Crime Recovery Management Act was enacted and that the recovered funds had been committed to critical infrastructure projects. The Minister of Information and Culture, Mr. Lai Mohammed, who made this disclosure during […]
Airtel Africa Plc and the International Finance Corporation (IFC) have signed a $194 million credit facility as part of their collaborative initiative aimed at deepening Internet access in African countries. The deal indicated that the new financing facility aligns with its strategy to meet its commitments and improve its balance sheet through localizing debt within […]
The Debt Management Office (DMO) on Monday reported that the 2022 N100 billion Nigerian Sovereign Sukuk subscription offer issued last month recorded 165 percent oversubscription, thereby raising the amount raked to N130 billion. The debt management agency had on November 21, 2022 issued the N100 billion Ijarah Sukuk bond for subscription by the investing public to […]
The Nigerian Communications Commission (NCC) has said that the ongoing process to auction two additional lots in the 3.5GHz spectrum for Fifth Generation (5G) is part of efforts that will further liberalize access to high-speed mobile broadband for all Nigerians. The Executive Vice Chairman/Chief Executive Officer (EVC/CEO) of NCC, Prof. Umar Danbatta, made this remark […]
The National Bureau of Statistics (NBS) on Thursday reported that Nigeria’s Gross Domestic Product (GDP) grew by 2.25% (year-on-year) in real terms in the third quarter of 2022, representing 1.78% points decrease from the 4.03% growth rate recorded in Q3 2021 The Q3 GDP growth rate reflected a 1.29% points decline relative to 3.54% growth […]