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Fuel price hike linked to naira devaluation, says Rainoil CEO
News

Fuel price hike linked to naira devaluation, says Rainoil CEO

CEO of Rainoil Ltd, Dr. Gabriel Ogbeche, has asserted that the soaring fuel prices in Nigeria are largely influenced by the exchange rate rather than fluctuations in crude oil prices on the global market. He made this statement during an interview on Channels Television’s Business Morning program. Ogbeche noted that the federal government fully deregulated […]

Global giants Rockefeller, Bezos plan 10,000MW mini-grids in Nigeria
News

Global giants Rockefeller, Bezos plan 10,000MW mini-grids in Nigeria

A global climate organization supported by the Rockefeller Foundation and the Bezos Earth Fund is piloting a solar mini-grid program in Nigeria to address the erratic power supplies hindering productivity in Africa’s most populous nation. The Global Energy Alliance for People and Planet plans to establish pilot mini-grids in each region covered by Nigeria’s 11 […]

News

Minister, NUPRC disagree on oil production goals

The Minister of State for Petroleum Resources, (oil) Heineken Lokpobiri, and the Nigerian Upstream Petroleum Regulatory Commission have differing perspectives on the commission’s goal of boosting oil production by an additional one million barrels per day within 12 to 24 months. The initiative which aims to boost Nigeria’s energy output and support economic growth by […]

Dangote Refinery loses N32.5bn after petrol price cut
News

Dangote denies new suit against NNPCL, others over import licenses

The Dangote Group has characterized the lawsuit against the Nigerian National Petroleum Corporation Limited and other oil companies as an “old issue.” The group communications officer of Dangote Group, Anthony Chiejina, stated that the proceedings are currently on hold, with intentions to withdraw completely by January 2025. He clarified that the case originated in June […]

News

FIRS urges judiciary support to strengthen tax system

The Federal Inland Revenue Service has emphasized the crucial role of the judiciary in sustaining a robust tax system in Nigeria. The agency stated that the integrity and cooperation of the judiciary are essential for ensuring compliance and enhancing public confidence in the tax framework. This was disclosed by the Executive Chairman of the FIRS, […]

News

Nigeria, USA annual trade reaches $10bn

The Consul-General of the United States Consulate in Lagos, Will Stevens, stated that Nigeria and the US maintain a $10 billion annual trade relationship. Stevens made this statement during the opening ceremony of the African Growth and Opportunity Act workshop with Proper Africa in Lagos, according to The Punch. The workshop aims to equip export-ready […]

Air Peace denies alleged safety protocol violations in UK
featured

Air Peace raises Lagos-Abuja ticket price to N200,000

Starting November 1, 2024, a one-way flight ticket from Lagos to Abuja on Air Peace will rise to N200,000. The challenging economic conditions have pressured airlines to raise their fares, prompting some Nigerians to shift from air travel to road transport. Recent checks revealed that Air Peace’s new fare is the highest among domestic airlines, […]

News

Legal challenges could delay N102bn Lekki airport project

The Lagos State Government’s plan to build a new airport to complement Murtala Muhammed Airport may face legal challenges due to an existing agreement prohibiting such construction. This agreement is between Bi-Courtney Aviation Services Limited and the Federal Government, according to The Punch. Governor Babajide Sanwo-Olu recently met with officials from the Nigeria Civil Aviation […]

Tech

Qualcomm enhances mobile phone chips for AI

Qualcomm announced on Monday its plans to enhance its mobile phone chips by incorporating technology originally developed for its laptop processors, aimed at boosting performance for generative AI applications. As the world’s largest supplier of mobile phone chips, Qualcomm is leveraging expertise gained from a team of former Apple engineers hired in 2021 to design […]

Dangote Refinery loses N32.5bn after petrol price cut
featured

Refinery: Dangote seeks cancellation of NMDPRA import licences

Dangote Petroleum Refinery and Petrochemicals FZE has filed a lawsuit with the Federal High Court in Abuja, requesting the annulment of import licences granted to the Nigeria National Petroleum Corporation Limited, Matrix Petroleum Services Limited, A. A. Rano Limited, and four other companies. The refinery argues that these licenses permit the importation of refined petroleum […]

Microsoft to boost startup speed of office apps
News

Microsoft to launch autonomous AI agents in November

Microsoft has announced plans to enable customers to build autonomous AI agents starting in November, aiming to leverage the expanding AI market. These agents differ from traditional chatbots by requiring minimal human oversight, making them effective for automating tasks like handling client inquiries, identifying sales leads, and managing inventory. Major tech players, including Salesforce, have […]

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