By Seun Ibiyemi The Nigerian Electricity Regulatory Commission (NERC) has announced plans to partner with eTranzact International Plc to deploy financial technology solutions aimed at improving liquidity in Nigeria’s electricity market. The Chairman of NERC, Musiliu Oseni, disclosed this in a statement published on the commission’s website on Monday in Abuja. Read also: NERC orders…
By Seun Ibiyemi FCMB Group Plc has announced the successful completion of a major capital raise programme undertaken for its banking subsidiary, First City Monument Bank Ltd, as part of efforts to meet new regulatory capital requirements. The group disclosed this in a corporate filing signed by its Group Chief Executive Officer, Ladi Balogun, and…
By Seun Ibiyemi Airlines in the United Arab Emirates have begun partially resuming limited flight operations as regional airspace restrictions continue to affect aviation activities across the Middle East. According to airline updates and local media reports, passengers have been advised to travel to airports only if they possess confirmed bookings or have been directly…
By Seun Ibiyemi The Nigerian Railway Corporation (NRC) has ordered an immediate investigation into the alleged assault of a lecturer from the University of Ibadan, Dr. Mikail Abdussalam, at the Obafemi Awolowo Train Station in Moniya, Ibadan. In a statement issued by the Managing Director and Chief Executive Officer of the corporation, Kayode Opeifa, the…
By Adeyemi David Bauchi State Governor, Bala Mohammed, and Oyo State Governor, Seyi Makinde, are set to leave the Peoples Democratic Party (PDP) before April, as the opposition party grapples with a wave of defections and an ongoing leadership crisis. A source familiar with developments told reporters that Bala Mohammed is expected to join the…
The escalating military confrontation involving Iran, the United States and Israel is sending shockwaves through global energy markets, with crude oil prices rising sharply and creating new economic pressures for countries like Nigeria. Over the past two weeks, international crude benchmarks have surged dramatically. Brent Crude, the global benchmark used to price much of the…
By Seun Ibiyemi The Nigeria Labour Congress (NLC) has raised concerns over an alleged plan by officials within the Transmission Company of Nigeria (TCN) to spend nearly ₦20 billion on electricity grid expansion projects under what it described as questionable emergency procurement arrangements. In a letter addressed to the Minister of Power, Adebayo Adelabu, the…
…Surges above $100 as Middle East conflict escalates … Fuel price changes driven by market forces – NMDPRA By Seun Ibiyemi Fresh concerns over a possible increase in petrol prices have emerged in Nigeria’s downstream petroleum sector following the suspension of loading operations at the Dangote Petroleum Refinery. The refinery has halted the loading of…
By Seun Ibiyemi The Attorney-General of the Federation and Minister of Justice, Lateef Fagbemi, has said the resolution of the long-running dispute over OPL 245 will strengthen Nigeria’s economy and enhance the federal government’s fiscal capacity. Fagbemi made the remarks in Abuja following the signing of a legal agreement that formally brought the prolonged dispute…
By Seun Ibiyemi The Nigerian National Petroleum Company Limited (NNPCL) and several independent marketers have increased the pump price of Premium Motor Spirit (PMS), commonly known as petrol, for the second time in less than 24 hours following a fresh price adjustment by the Dangote Refinery. The state-owned oil company on Sunday raised its petrol…
