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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

Blog

Banking

Digital banks not tackling financial crime –UK regulator

Britain’s online-only challenger banks need to do more to prevent the abuse of their platforms by criminals, regulators have warned. According to CNBC, the Financial Conduct Authority published the findings of a review into financial crime controls at several United Kingdom challenger banks — younger banks set up with the aim of taking on incumbent […]

Oil production: Angola, Libya overtake Nigeria, says OPEC
Oil and Gas

Nigeria’s crude oil production rigs drop by 37.5%, says OPEC

The number of functional crude oil production rigs in Nigeria decreased by 37.5 per cent to just 10 operational rigs in March 2022, the Organisation of Petroleum Exporting Countries has said. An oil rig, offshore platform, or oil and/or gas production platform is a large structure with facilities to extract, and process petroleum and natural […]

Interview

Fuel subsidy more beneficial to rich Nigerians – Financial expert

In this interview, the Executive Director, Cordros Capital, Femi Ademola, speaks on investment decisions, fuel subsidy and foreign direct investments into Nigeria Many low-income earners usually look for investment areas where they can get huge returns in a short time. Is this realistic? What I have noticed with low-income earners is they are looking to […]

FG budgets N8.68tn for agric, food imports - Report
Agribusiness

Beans, tomatoes, yam record 40% price hike –NBS

The average prices of food items in Nigeria recorded significant increases within a one-year period spanning between February 2021 and February 2022, data from the National Bureau of Statistics show. According to NBS, the average cost of beans (white, black eye, sold loose) rose by 50.1 per cent from N331.48 to N 497.54 during the […]

Transcorp Power NGX listing expands investors’ portfolio
Energy

Transcorp Power posts N74.3bn revenue as sector’s finances improve

Transcorp Power Limited, owner of the 972 megawatts capacity power plant in Ugheli, Delta State, has announced revenue growth of N74.3bn in 2021 following the recent improvements in the financial performance of Nigeria’s power sector. In the 2021 annual report and financial statement of Transcorp Group, the Group Chairman, Tony Elumelu, said the power firm’s […]

Ports and Airports

Funding hinders anti-corruption fight at ports, says ICPC

The Independent Corrupt Practices and Other Related Offences Commission has blamed limited funding for agency’s inability to effectively fight corruption at the nation’s ports. The anti-graft agency in a statement on its official Facebook page also reiterated its commitment to tackling corruption at the Nigerian ports. The ICPC Chairman, Professor Bolaji Owasanoye, a Senior Advocate […]

100% cashless economy possible in Nigeria - Emefiele
Banking

Why CBN can’t float exchange rate –Emefiele

The Governor of the Central Bank of Nigeria, Godwin Emefiele, has said that despite calls and recommendations by the International Monetary Fund, the World Bank and other global financial institutions, Nigeria cannot afford to operate a floated exchange rate system. Emefiele made this known at the IMF/World Bank Spring Meetings in Washington DC, United States. […]

100% cashless economy possible in Nigeria - Emefiele
Oil and Gas

Dangote Refinery’ll reduce import bill by 40% – Emefiele

The Governor of the Central Bank of Nigeria, Godwin Emefiele, says Dangote Refinery will reduce Nigeria’s import bill on petroleum products and other commodities by 40 per cent. He said this during an interview at the International Monetary Fund meeting in Washington Dc, United States on Thursday. Emefiele said, “With Dangote Refinery coming up with […]

How Nigeria’s refineries lost 218 workers, N69bn
Oil and Gas

Reps allege cover-up on refineries, summon Sylva, Kyari

The House of Representatives’ Ad Hoc Committee on the State of Refineries in Nigeria has summoned the Minister of State for Petroleum Resources, Timipre Sylva, and the Group Managing Director of the Nigerian National Petroleum Company Limited, Mele Kyari. The officials of the management of the nation’s refineries were also summoned to appear before the […]

Why oil theft estimates are unrealistic- Navy
Oil and Gas

Oil price rises as OPEC projects steady demand growth

Brent, the global benchmark for crude oil, rose marginally in price on Thursday, as the Organisation of Petroleum Exporting Countries projected that the demand growth for oil would continue this year. Industry figures showed that Brent moved up by $0.77 or 0.72 per cent to $107.57/barrel at about 7.13pm Nigerian time. It had traded around […]

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