UBA redeems five-year $500m Eurobond
The United Bank for Africa has redeemed its debut $500 million five-year Eurobond notes which matured on Wednesday. The Nation reported that the Eurobond notes issued in 2017 were offered…
Forex trader bags two years jail for N20m theft
A forex trader identified as Shola Henry was sentenced to two years imprisonment on Tuesday by the Domestic Violence and Sexual Offences Court, Ikeja, Lagos State, for N20m theft. The…
Nigeria’s debt hit $3.67bn, China imports rise by 183.91%
Nigeria's imports from China rose by 183.91 percent from N530.98bn in the first quarter of 2018 to N1.51tn in Q1 2022. According to the National Bureau of Statistics data on…
Energy transition: Natural gas remains Nigeria’s best option – FG
The Minister of State for Petroleum Resources, Chief Timiprye Sylva said natural gas remains the only viable option currently on the table as the race to the adoption of energy…
E-payment: Nigerians’ spending on utility bills rises by 387%
The amount Nigerians spent on electronic bills such as power and other utilities grew by 387.19 per cent from N189.50bn in the first four months of 2019 to N923.24bn in…
Nigeria Air receives operating license from NCAA
Nigeria's proposed national carrier, Nigeria Air, has received an Air Transport License from the Nigerian Civil Aviation Authority. The interim management of the country's national carrier, led by Captain Dapo…
FG to confirm increment of petrol freight rate
The Federal Government is expected to issue a circular confirming the increased the increase of freight rates of Premium Motor Spirit, otherwise known as petrol, by N10 per litre. The…
Firm prepares fresh investment in oil, gas sector
Solewant Group says it is now entering the next phase of its extensive development through investments and expansions in the oil and gas sector. Report according to The Punch confirmed…
Blackout to worsen as 20 power plants underperform
No fewer than 20 gas power plants are currently under-performing, forcing power generation to drop below 2000MW. Nigeria has 23 power generating plants with 11 165MW capacity connected to the…
92 million Nigerians lack access to electricity – Report
Nigeria has the lowest access to electricity globally, with about 92 million persons out of the country’s 200 million population lacking access to power, the Energy Progress Report 2022 released…
Ondo communities groan as robberies halt banking operations, frustrate economic activities
A resident of Idoani in the Ose Local Government of Ondo State, Mr Segun Kolawole, is unhappy that he had not been able to enter a banking hall since 2019…
Russia-Ukraine crisis fuels surge in food prices – Buhari
The President, Major General Muhammadu Buhari (retd.), on Saturday in Accra said ongoing invasion of Ukraine by Russia had led to a surge in the prices of many commodities, including…
