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Nigeria exports N181.62bn electricity to Togo, Benin, Niger

Nigeria exported a total of N181.62 billion worth of electricity from January to September 2024. The exports were distributed across three quarters: N58.65 billion in Q1 to Togo, Benin, and Niger Republic; N63.28 billion in Q2; and N59.69 billion in Q3, according to National Bureau of Statistics data. Despite the Nigerian Electricity Regulatory Commission imposing […]

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Court orders Radix Pension to pay former MD N57m, $21m

The National Industrial Court has ruled that Radix Pension Managers Limited must pay Kunle Adeboye, the former Managing Director, a total of N57.12 million and $21 million. This payment is for unpaid salaries, allowances, and other packages owed to Adeboye. In the Certified True Copy of the judgement, the judgment was given by Justice R. […]

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FG raises N1.1tn via Sukuk to finance road projects

The Federal Government of Nigeria has raised N1.1 trillion ($657.6M) through six Sovereign Sukuk to finance 124 federal road projects across the country’s six geopolitical zones. These projects will cover a total of 5,820 kilometers, aimed at enhancing infrastructure and fostering economic growth. The Director General, Security and ExchangeCommission, Dr. Emomotimi Agama, made this disclosure […]

Dangote Refinery loses N32.5bn after petrol price cut
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Dangote refinery exports petrol to Cameroon, Angola, others

Dangote Refinery has shipped Premium Motor Spirit to Cameroon, Angola, Ghana, and South Africa in the past few weeks. This was disclosed by the Vice President of Oil and Gas, Dangote Industries Limited, Devakumar Edwin, while hosting a delegation from the Japanese Business Community in Nigeria, led by Suzuki Hideo, Japan’s Ambassador-designate to Nigeria. In […]

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FG secures $600m agric loan to boost food security

The Federal Government of Nigeria, through the Ministry of Agriculture and Food Security, has successfully secured over $600 million in foreign agricultural loans in 2024. This funding aims to enhance food security, and boost agricultural production. According to information from the ministry’s website, the government obtained a $134m loan facility from the African Development Bank […]

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Blue economy policy to strengthen maritime governance – Oyetola

The Minister of Marine and Blue Economy, Adegboyega Oyetola, has hailed the National Policy on Marine and Blue Economy as an inclusive framework to strengthen maritime governance. He stated that the policy aims to position the sector as a key contributor to national prosperity, in alignment with the sustainable development goals of Africa’s Agenda 2063. […]

ExxonMobil vacates Lagos office, opts for smaller space
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ExxonMobil, Chevron eye AI data centers as next energy frontier

ExxonMobil and Chevron are positioning themselves as key energy providers for AI data centers, tapping into the growing energy demands of the tech sector. ExxonMobil announced plans to develop a natural gas plant dedicated to powering such data centers, coupled with carbon capture and storage technology to cut emissions by up to 90%. “We’re working […]

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FG proposes Fly Nigeria act to boost aviation – Keyamo

The Fly Nigeria Act, introduced by the Federal Government, aims to boost the aviation sector by requiring government-funded travel to prioritize Nigerian flag carriers. Aviation Minister Festus Keyamo presented the Act during a stakeholders’ engagement event on Friday, highlighting its potential to revitalize the industry and strengthen local airlines. Keyamo referred to the Fly Nigeria […]

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Nigeria, UN partner to boost bioethics development

The Federal Government and the United Nations Educational, Scientific, and Cultural Organisation are preparing to strengthen their partnership on bioethics development in Nigeria through a planned Memorandum of Understanding. This was disclosed in a statement by the Minister of Innovation, Science, and Technology, Uche Nnaji, on Friday. Bioethics involves the ethical principles and guidelines that […]

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Minister targets $23bn exotic livestock breed market

The Minister of Livestock Development, Dr Idi Maiha, has urged the Raw Materials Research and Development Council to spearhead the transformation of Nigeria’s livestock sector through research and development. Maiha emphasized that this initiative would position Nigeria to tap into the $23 billion exotic livestock breed market and boost the country’s leather production capabilities. This […]

Microsoft rolls out file sharing app for iPhone users
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Microsoft rolls out file sharing app for iPhone users

Microsoft has begun testing new features for its Phone Link app, which will offer iPhone users a more seamless way to share files between their devices and Windows PCs. The update, currently available to Windows Insiders, introduces a feature that enables file sharing between iPhones and PCs, bringing the experience closer to how users share […]

Neuralink raises $600m, boosts valuation to $9bn
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US SEC reopens investigation into Musk’s Neuralink

The United States Securities and Exchange Commission has reopened its investigation into Elon Musk’s brain-chip company Neuralink, according to a letter shared by Musk on the social media platform X on Thursday. The letter, dated December 12, was written by Musk’s attorney Alex Spiro and addressed to outgoing SEC Chair Gary Gensler. It also revealed […]