By Seun Ibiyemi Energy expert, Nick Agule has blamed Nigeria’s persistent electricity challenges on what he described as “incompetent operators” in the power sector, following the cancellation of a $717.7 million World Bank financing package meant to support reforms in the industry. Speaking on a Arise television programme, Agule said the withdrawal of the undisbursed…
By Seun Ibiyemi The Nigeria Customs Service (NCS), Apapa Area Command, has intercepted 1.81 tonnes of Cannabis Sativa, popularly known as Canadian Loud, and expired pharmaceutical products with a combined duty-paid value of ₦12.7 billion at Apapa Port in Lagos. The seizure was disclosed on Tuesday in a statement issued by the command’s spokesman, Isah…
By Olakunle Oke Dangote Petroleum Refinery has reduced the ex-depot price of Premium Motor Spirit (PMS), commonly known as petrol, by N75 per litre following a sharp decline in global crude oil prices amid easing geopolitical tensions in the Middle East. In a circular issued to marketers, the refinery announced that the ex-gantry price of…
By Sodiq Adelakun The Federal University Oye-Ekiti (FUOYE) has suspended a director, a deputy dean and the Students’ Union Government (SUG) president over allegations of unauthorised collection of money from students. The university disclosed the development in a statement signed by its Registrar, Mufutau A. Ibrahim.According to the statement, those affected are Olanrewaju Patrick Ogunjobi,…
By Seun Ibiyemi The Central Bank of Nigeria (CBN) has announced a Nigerian Treasury Bills (NTBs) auction valued at N450 billion, significantly below the N1 trillion offer size indicated in the revised second-quarter borrowing programme of the Debt Management Office (DMO). According to an official notice issued to Primary Money Market Dealers (PMMDs), the auction…
…As NCC boss set to lead broadband policy forum By Shola Adeoye The Association of Telecommunications Companies of Nigeria has expressed concern over persistent challenges slowing the rollout of fibre broadband infrastructure across Nigeria, warning that the obstacles could undermine the country’s digital transformation ambitions. The association said the issues surrounding fibre-to-the-home (FTTH) deployment have…
By Seun Ibiyemi The naira maintained relative stability against the United States dollar on Tuesday, trading at about N1,363.83/$ at the Nigerian Foreign Exchange Market (NFEM), as ongoing foreign exchange reforms and improved market liquidity continued to support the local currency. Market data showed that the naira remained within the N1,360 range at the official…
By Seun Ibiyemi Investors on the Nigerian Exchange Ltd. (NGX) suffered losses amounting to N782 billion on Tuesday as the stock market extended its bearish run for a third consecutive trading session amid widespread profit-taking across major sectors. The downturn was driven by sell-offs in insurance, banking, consumer goods, industrial and technology stocks, resulting in…
By Seun Ibiyemi The Nigerian Railway Corporation (NRC) has said that all passengers who sustained injuries in the June 8 train accident along the Warri-Itakpe rail corridor have been treated and discharged from hospital, while all equipment involved in the incident has been fully recovered. The Managing Director and Chief Executive Officer of the NRC,…
An indigene of Umuhu Okabia community in Orsu Local Government Area of Imo State, Mrs. Favour Nkechi Okorie, has appealed to the Federal Government to intervene over what she described as repeated harassment and intimidation by military personnel in her community. Speaking about her experience, Okorie alleged that on March 30, 2021, soldiers invaded her…
