Total customers of electricity in Nigeria rose to 11.71 million in Q3 2023 from 11.47 million in Q2 2023, showing an increase of 2.08% quarter-on-quarter, the National Bureau of Statistics (NBS) has reported. The statistics agency gave these figures in its ‘Nigeria Electricity Report (Q3 2023)’ published on Wednesday, January 31, on its website. The […]
Lagos State Government has said that it plans to allocate N550.689 billion, or 24.28% of its 2024 budget, to infrastructure development and maintenance. The Commissioner of Economic Planning and Budget, Mr Ope George, who made this disclosure during the state’s ‘2024 Budget Analysis’ held at Alausa Ikeja, listed some of the key projects as including […]
The Federal Government of Nigeria and the Kingdom of Morocco have reopened their discussions to fast-track the process of achieving the Final Investment Decision (FID) on the Nigeria-Morocco gas pipeline project. The parley took place on the sidelines of a meeting between the Minister of State for Petroleum Resources (Gas), Mr. Ekperikpe Ekpo, and the […]
Ogun State Governor, Prince Dapo Abiodun, has called for the support of Lafarge and other multinational companies operating along the Abeokuta-Ota-Lagos Expressway as his administration continues to make efforts to reconstruct the highway. The governor said that reconstructing the road would have multiplier effects on the socio-economic development of the state, while companies who have their […]
CAPE Economic Research and Consulting, one of the global leading economic research firms, has stated that the current level of growth in Nigeria’s economic output measured as Gross Domestic Product (GDP) cannot guarantee the socioeconomic wellbeing of Nigerians on a sustainable basis. The research firm, in its just published ‘Economic Newsletter, Issue 3, Vol 1, […]
The Chief Economic Adviser and Commissioner for Finance, Mr. Dapo Okubadejo, has projected that Ogun State intends to rake in N240 billion as Internally Generated Revenue in the 2024 financial year. The commissioner, who made the projection during a budget breakdown and media parley held in Abeokuta on Monday, said that for the year, the […]
The Nigerian Ports Authority (NPA) on Sunday successfully berthed the largest container carrier ever at the Lekki Deep Seaport, thereby taking Nigeria’s trade facilitation a notch higher. The vessel, MAERSK EDIRNE, measuring 367m in overall length, has a breadth of 48.2m and carried a Gross Registered Tonnage GRT of 142,131metric tonnes and a Dead Weight […]
Nigeria’s Vice President, Kashim Shettima, projected on Thursday that the African Continental Free Trade Area (AfCTA) agreement had the potential to raise Africa’s gross domestic product (GDP) by $450 billion in 2035. Shettima, who made this forecast at a breakfast event with African Heads of State to launch the Action Plan for AfCTA on the […]
The Nigerian Electricity Regulatory Commission (NERC) has approved electricity tariffs hike, effective January 1 2024, following a review of the Multi Year Tariff Order (MYTO), in order to enable the 11 electricity distribution companies (DisCos) to sustain their operations nationwide. The Chairman of NERC, Sanusi Garba, who made this disclosure on Wednesday during a media […]
Governor Babajide Sanwo-Olu on Monday signed the N2.267 trillion 2024 Appropriation Bill of Lagos State into law at a ceremony in the State House, Alausa Ikeja. Tagged the “Budget of Renewal”, the state government listed the key thrusts of the capital expenditures as infrastructure, environment, education and technology, just as it significantly raised allocation to […]