By Seun Ibiyemi The Federal Government has paid N1.23 trillion in legacy debts owed to power generation companies (Gencos) and plans to clear the outstanding balance in 2027, as it intensifies efforts to improve electricity supply and attract investment into the power sector. The Minister of Power, Joseph Tegbe, disclosed this at the Harvard Business…
By Seun Ibiyemi The Federal Government has expressed readiness to partner with Norway on satellite-based surveillance of Nigerian waters to tackle illegal fishing, protect marine resources and safeguard the livelihoods of local fishermen.** The Minister of Marine and Blue Economy, Dr Adegboyega Oyetola, disclosed this on Monday when he received Norway’s Ambassador to Nigeria, Svein…
By Seun Ibiyemi Chairman of SIFAX Group, Dr. Taiwo Afolabi has identified exceptional customer experience as a critical driver of business growth, saying companies must build trust, demonstrate responsiveness and sustain strong relationships with customers to secure their loyalty and long-term patronage. Afolabi stated this during the 2026 Customer Service Week celebration at the company’s…
By David Oluwatosin The Lagos State Government has announced plans to increase electricity supply to above 3,000 megawatts (MW) by March 2027, from the current level of below 1,000MW, as it intensifies efforts to tackle power shortages and build a 24-hour economy. Governor Babajide Sanwo-Olu disclosed the target at the fourth Lagos Business School Africa…
By Seun Ibiyemi The Presidency has rejected former Vice President Atiku Abubakar’s proposed production subsidy on petrol, describing it as economically unrealistic and arguing that Nigeria lacks sufficient unencumbered crude oil volumes to sustain the policy without reviving the financial and administrative problems associated with the former fuel subsidy regime. The Presidency said the proposal…
By Seun Ibiyemi President Bola Ahmed Tinubu has welcomed the World Bank’s October 2026 Nigeria Development Update, saying its findings indicate that the Federal Government’s economic reforms are strengthening public finances, supporting economic growth and creating room for increased investment in infrastructure and social services. The report, titled Beyond the Federal Purse: How Higher Revenues…
By David Oluwatosin The National Drug Law Enforcement Agency (NDLEA) has rearrested an 83-year-old woman, Mrs Uloma Uchechi Sunday, for alleged drug trafficking barely a year after she was convicted for a similar offence, as the agency intensified its nationwide crackdown on illicit drugs. The octogenarian was arrested on Wednesday, October 7, 2026, at her…
By Seun Ibiyemi The Socio-Economic Rights and Accountability Project (SERAP) has sued the Central Bank of Nigeria (CBN) over alleged failures to account for $6.23m in election-related funds and more than N1.63tn in other public funds flagged in the Auditor-General of the Federation’s 2023 annual report. The organisation is asking the Federal High Court in…
By Seun Ibiyemi The Manufacturers Association of Nigeria (MAN) has elected the Chief Executive Officer of Juhel Nigeria Limited, Dr. Ifeanyi Eric Okoye, OFR, mni, as its 12th president, ushering in a new leadership era for the country’s manufacturing sector amid persistent challenges confronting local industries. Okoye was elected at the association’s 54th Annual General…
By Seun Ibiyemi The Federal Government has dismissed claims that the petrol price discount introduced by NNPC Retail Limited amounts to a return of fuel subsidy, insisting that the initiative is funded entirely from the company’s retail margin without recourse to public funds. The Minister of Finance and Coordinating Minister of the Economy, Taiwo Oyedele,…
