Nine plants generate 71% electricity in Nigeria – Report
It has been discovered that only nine of the 26 power plants connected to the national grid produce 71% of the country's electrical needs. According to The PUNCH, the plants…
eNaira hits $9m transactions, 840k downloads
The eNaira has recorded ₦4 billion ($9.3 million ) transactions and 840,000 app downloads, Gadgets Africa reports. This comes a few days after the Governor of the Central Bank of…
Power generation dropped 43mw after worker’s strike – FG
Data received from the Federal Ministry of Power on Sunday revealed that the recent one-day strike by employees of the Transmission Company of Nigeria caused Nigeria's power generation to plummet…
FG completes acquisition of four DisCos
The Federal Government has completed the acquisition of four energy distribution firms and established the board of the Nigeria Electricity Liability Management Company. Vice President Yemi Osinbajo, on Friday, said…
SEC announces N177bn unclaimed capital market dividends
The Nigeria's Securities and Exchange Commission on Friday reported a rise from N168 billion in unclaimed dividends in 2020 to N177 billion in 2021. According to The PUNCH, this…
Trapped forex: More airlines to halt Nigerian operations
More foreign airlines are preparing to suspend their operations in Nigeria as a result of their inability to repatriate their trapped ticket sales fund in the country. This comes after…
FG to end fuel subsidy in 2023 – Minister
The Minister of Finance, Budget and National Planning, Zainab Ahmed, has disclosed that the Federal Government will stop paying subsidies on Premium Motor Spirit (petrol) by June 2023. According to…
Residents, traders lament as Sango-Ota road collapses
The dismal state of the Sango-Ota end of the Lagos-Abeokuta Expressway in Ogun State has continued to exacerbate the plight of local residents and business owners. According to The PUNCH,…
N2.6bn debt: NBC closes AIT, Silverbird, others
The broadcast licences of AIT, Silverbird, Raypower FM, Rythm FM, and others have been revoked by the National Broadcasting Commission over a debt of around N2.6bn. NBC’s Director-General, Mallam Balarabe…
FG spends N18.4bn on fuel subsidy daily – Minister
The Minister of Finance and National Planning, Zainab Ahmed, on Thursday, revealed that Federal Government spends N18.397 billion daily on payments of subsidy on Premium Motor Spirit (petrol). Ahmed disclosed…
CBN opens eNaira to USSD transaction
Beginning next week, Nigerians will be able to access eNaira through the Unstructured Supplementary Service Data code on their mobile phones, the Central Bank of Nigeria has said. This was…
Emirates suspends Nigerian flights over trapped revenue
Emirates Airlines has suspended all flights in and out of Nigeria effective from September 1, 2022. The United Arab Emirates airline disclosed this in a statement issued on Thursday morning,…
