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Tinubu blames privatization for current power sector crisis

Electricity featured

Nigeria isn’t poor, huge money moves below radar –

Finance

Access Holdings disowns unauthorised 2025 financial highlight release

Banking

South Africa’s inflation rises to 3.1% as cost pressures

Economy

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Flights to South-South most expensive - NBS
Aviation

Why aviation industry remains in recession – Union

The National Union of Air Transport Employees on Sunday said the recent hike in airfares coupled with the impact of the Russia/Ukraine war and the COVID-19 outbreak had delayed the exit of Nigeria’s aviation sector from recession. NUATE President, Ben Nnabue, who disclosed this in his 2022 May Day speech to workers in the sector, […]

Agribusiness

FG to establish 119 ranches in Benue, Taraba others

A total of 119 ranches are to be created under the National Livestock Transformation Plan in various states across the country between 2019 and 2028, the Federal Government has said. In the NLTP 2019-2028 document approved by the National Economic Council and obtained in Abuja on Friday, the Federal Government stated that about 300,000 jobs […]

FBN Insurance targets 1m customers in one year
Banking

Poverty can’t be eradicated without financial inclusion – First Bank

Without adequate financial inclusion, poverty cannot be effectively eradicated in Nigeria and other nations of Africa, First Bank Nigeria Plc stated on Friday. Financial inclusion refers to efforts aimed at making financial products and services accessible and affordable to all individuals and businesses, regardless of their personal net worth or company size. Delivering the keynote […]

Uncategorized

Political interference, inconsistent policies frustrating refineries repairs – NNPC ex-manager

A retired Group General Manager, Research and Development, Nigerian National Petroleum Corporation, Dr Bola Afolabi, speaks about his family, education, career and related issues What was your childhood ambition? As a child, I wanted to be a medical doctor because of the care they administer and the selfless nature of their calling. Their white garment […]

Energy

Nigeria needs 100,000MW to end power crisis – Ex-minister

A former Minister of Power, Prof. Barth Nnaji, says Nigeria needs over 100,000 megawatts of power to address the persistent electricity problem across the country. Nnaji said this while addressing newsmen on Friday in Enugu on the state of the power sector in Nigeria. He attributed the problem in the sector to the supply value […]

FG spends N40.1bn daily as fuel subsidy hits N600 per litre – Operators
Oil and Gas

Fuel subsidy records 307% increase amid transport fare hike

The amount spent on fuel subsidy monthly rose from N60.39bn in March 2021 to N245.77bn in March 2022, indicating an increase of 306.97 per cent. Within this one-year period, fuel subsidy gulped N2.08tn, according to data obtained from the Nigerian National Petroleum Company Limited. NNPC described its subsidy spending as an under-recovery of PMS/value shortfall. […]

MTN launches 5G network
Telecommunications

MTN earns N421bn from calls, data in three months

MTN Nigeria Communications PLC made N421.49bn from calls and data in the first quarter of 2022. This is a 20.32 per cent increase from N350.31bn that the telecoms company made from voice and data in the corresponding period of 2021. In its Q1, 2021 announcement, MTN revealed that it made N470.98bn in total revenue in […]

Pension remittances: 20 firms default, pay N211.5m penalty
News

Recapitalisation: PenCom probes PFAs’ funds as deadline ends

THE National Pension Commission is investigating the nation’s Pension Fund Administrators evidence of meeting its new capital requirements ahead of the April 30, 2022 recapitalisation deadline, findings have revealed. Sources among the operators said many of the PFAs submitted their evidence of recapitalisation this week, as they stepped up efforts to scale the regulatory hurdle. […]

Zenith Bank's Q3 earnings hit N620.6bn
Banking

Zenith Bank grows quarterly earnings by 22%

Zenith Bank Plc’s gross earnings rose by 22 per cent in the first quarter of 2022. The lender’s earnings rose from N157.3bn in the first quarter of 2021 to N191.5bn in Q1, 2022. The bank disclosed this in a statement on its unaudited results for the first quarter ended 31st March 2022. From the unaudited […]

Oil production: Angola, Libya overtake Nigeria, says OPEC
Energy

Protesting oil workers ground activities at Warri refinery

Operational activities were, on Thursday, grounded at the Warri Refining and Petrochemical Company, Delta State, as hundreds of casual workers staged a peaceful protest inside the company against the management of the Nigerian National Petroleum Company Limited. Their demands included, among others, conversion from casual to permanent staff, salary increase, payment of all outstanding allowances,  […]

Gas consumption to decline over Russia, Ukraine war - Report
Oil and Gas

Nigeria’s proven gas reserves worth over $803.4tn – FG

THE Federal Government on Thursday said the value of Nigeria’s proven gas reserves of about 206.53 trillion cubic feet was over $803.4tn, adding that the country had the most extensive gas resource in Africa. It also stated that the European Union had proposed categorising natural gas as a green energy source, as this would impact […]

Agribusiness

COVID-19 stalled deployment of 60,000 tractors, agric equipment – FG

The Federal Government on Thursday said the deployment of 10,000 tractors and 50,000 units of assorted agricultural equipment across the country did not materialise because of the outbreak of the COVID-19 pandemic. It disclosed this in Abuja at the unveiling of the Pay-As-You-Go Tractor Financing for Agriprenuers in Nigeria by Heifer International, where the firm […]

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