Power sector: Gencos accuse senate of failing in oversight role
Power generation companies have criticized the Nigerian Senate, claiming that 99% of the failures in the country's power sector since the 2013 privatization are due to the lawmakers' neglect of…
NESG slams senate’s decision to suspend tax reform bills
The Nigerian Economic Summit Group has criticized the Senate's decision to suspend action on the tax reform bills, which have sparked widespread controversy across the country. The Chief Executive Officer…
Local rice prices surge by 137.32% – NBS
Local rice prices in Nigeria skyrocketed by 137.32% in October 2024 compared to the same period last year, according to the National Bureau of Statistics' Selected Food Prices report. This…
Nigerian fintech Moove partners Alphabet’s Waymo, enters US
Nigerian-born fintech startup, Moove has announced a strategic partnership with Waymo, Alphabet's self-driving vehicle division, to manage fleets of autonomous vehicles in Phoenix, Arizona, and Miami, Florida. The collaboration highlights…
Chevron cuts low-carbon investments by 25%
Chevron plans to invest $1.5 billion in emission-reduction and alternative energy projects in 2025, a decrease from $2 billion this year. The company aims to focus on investments that align…
Grid collapses: Senate blames failed power sector privatization
The Senate declared on Thursday that the 11-year-old privatisation of the power sector has failed, citing the continued lack of stable electricity supply nationwide. It warned that legislative measures to…
ICYMI: Ignore naysayers, P’Harcourt refinery facility working, Presidency tells Nigerians
The Special Adviser on Information and Strategy to President Bola Tinubu, Mr. Bayo Onanuga, has confirmed that work is ongoing at the 150,000 barrels-per-day plant of the Port Harcourt Refining…
Cocoa price surges to N15m per tonne
The Cocoa Research Institute of Nigeria, located in Ibadan, Oyo State, announced on Thursday that cocoa prices have surged to an all-time high of N15 million per tonne, up from…
TotalEnergies reaches 94% local content milestone – Director
Oil giant TotalEnergies EP has announced it has achieved over 94% local content. The firm’s Executive Director on JV Assets, Mr. Obi Imemba, shared this insight on Wednesday during a…
AFC to invest $3b in Africa’s mining, trade sectors
Africa Finance Corp. is set to invest over $3 billion across Africa next year, focusing on enhancing the region’s mining and trade sectors. AFC said it plans to prioritize advancing…
BoI, AGF partner to unlock $50m in MSMEs financing
The Bank of Industry on Thursday, entered into a $50 million portfolio guarantee agreement with the Guarantee Fund to unlock substantial financing for women entrepreneurs, Micro, Small, and Medium Enterprises,…
OPEC+ delays plans to ease crude production cuts
OPEC+ has postponed plans to ease its formal and voluntary crude production cuts until 2026, citing a subdued outlook for global oil demand. Internal documents and sources familiar with the…
