The Minister of Power, Adebayo Adelabu, has assured electricity consumers in the country that any customer not currently enjoying 20 hours of electricity will not be compelled to pay the new tariff. The minister gave the assurance on Monday while appearing before the Senate Committee on Power for its one-day investigative hearing on the need […]
Africa Data Centres, a division of the Cassava Technologies group, is excited to announce the launch of its exclusive channel partner programme, ADC Channel. A news report from African Press Organisation (APO) Group on the feat indicated the primary goal of the Channel was to foster collaboration among partners within the ISP, Carrier, Telecommunications, Systems […]
…As Rice Sells At 152.93% Higher Y-o-Y The average price of 1kg Rice local sold loose stood at N1,340.74 in March this year, representing 152.93% rise in price compared to the N530.08 it sold at March 2023 and 9.63% rise from N1,222.97 in February 2024, the National Bureau of Statistics (NBS) has reported. The Bureau […]
Investment researchers at Bancorp Securities Limited, a leading investment research and consulting services firm, have predicted that the downward trend that characterized banking stocks share prices in the past few weeks will potentially abate amid current indices in the economy. Last week, the equities market sustained its bearish streak for the sixth consecutive week, with […]
Danish shipping and logistics company, A.P Moller-Maersk, has unveiled plans to expand existing port infrastructure in Nigeria with the investment of $600 million to accommodate more container shipping services in the nation’s ports. The investment plan was sequel to the discussions by President Bola Tinubu with the Chairman of the company, Mr. Robert Maersk Uggla, […]
The Federal Government commenced the search for fund managers for a planned $10 billion diaspora fund that is aimed at attracting dollar inflows and foreign investment into the economy. Reuters reports that a tender document by Nigeria’s Ministry of Industry, Trade and Investment through a public notice indicated that the Federal Government was seeking “fund […]
The Accountant General of the Federation (AGF), Mrs. Oluwatoyin Madein, has disclosed that capital budget releases for Ministries, Departments and Agencies (MDAs) for 2024 fiscal year will commence next month. She made this disclosure on Thursday at a one-day Stakeholders interaction/sensitization session on the revised policy on cash management and bottom-up cash planning held in Abuja. […]
The Federal Government has revoked 924 dormant mining licences and asked potential investors to freely apply for the affected licences, which will be offered on a “first come, first served” basis. The Minister of Mines, Dele Alake, who made this disclosure in a statement issued on Wednesday, listed the revoked mining licences as including 528 […]
The Nigerian National Petroleum Company Ltd (NNPCL) has announced the signing of an agreement with African Refinery for a share subscription agreement with Port-Harcourt Refinery, which will enable the parties to run a 100,000bpd refinery within the Port-Harcourt Refinery complex. This disclosure was contained in a press statement on the company’s official X handle, which […]
The World Bank has alerted world leaders on the likely negative implications of rising commodity prices for the general price levels and economic projection in their countries. In a report it released on Thursday, the multilateral financial institution, stated that energy and other commodity prices were projected to become significant deflationary factors in the forthcoming […]