Business
  • February 14, 2024

JUST IN: Nigeria Government Backing-Out of Electricity Subsidising After Incurring Debt of N1.3 trl to Gencos & $1.3bn to Gas Coy

The Nigerian Government, which last year removed fuel subsidy, now seems weary of its subsidisation of electricity supply to the citizens. Indeed, the Minister of Power, Adebayo Adelabu, said Government of President Bola Tinubu cannot continue to subsidise electricity, adding that the nation must begin to move towards a cost-effective tariff model, as the country […]

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Business
  • February 14, 2024

Nigeria’s Oil Exports Increase by 60.8% in Q3 of 2023, Says OPEC

The Organisation Of Petroleum Exporting Countries (OPEC) has revealed that the oil exports in Nigeria grew significantly by 60.8% in the third quarter of 2023. “Throughout 3Q23, exports witnessed a remarkable 60.8% increase, and imports soared by 47.7%, culminating in a trade surplus of NGN1,888.92 billion in that period,” its Monthly Oil Report released Tuesday […]

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Business

At Last MultiChoice Agrees to  Pay Nigeria $37.3m for Tax Settlement

The MultiChoice Group has bowed to the law and reached a settlement with Nigerian tax authorities agreeing to pay a total tax of about $37.3 million. According to a report by Reuters, the broadcaster said, “The total tax amount of $35.4 billion which MultiChoice Nigeria and MultiChoice Africa Holdings will be offset against the security […]

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Economy

Senegalese President Applauds Aliko Dangote’s Impact on Senegal & Africa’s Economy

President of the Republic of Senegal, Macky Sall, has described Aliko Dangote, President of Dangote Group, as a blessing to Senegal and Africa as a whole. He lauded the entrepreneurial and philanthropic activities of the frontline businessman and said, the highest civilian award in Senegal, the National Order of the Lion Award, was bestowed on […]

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Business

Olatunji Recounts Milestones of NDPC, Says Commission Rakes in N6.2b in 2023 & Created 10,123 Jobs

The Nigeria Data Protection Commission (NDPC) headed by Dr Vincent Olatunji is excited about the achievement that it has made in the las few years of its establishment. At the 2nd Anniversary Dinner and Awards Night, held alongside the unveiling of the NDPC Annual Report for 2023, the Commission revealed how much it has impacted […]

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Business

36 Nigerian Oil Blocks are Under Concession to Foreign Oil Companies, Says NNPC

Latest data from the Nigerian National Petroleum Company (NNPC) Limited showed that no fewer than 36 oil blocks are under concession to international oil companies operating in Nigeria and their indigenous counterparts in the country. An analysis of NNPCL’s latest Consolidated and Separate Financial Statements for the Period Ended December 31, 2022, indicated that the […]

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Economy

Nigerian Economy On-Hold Again as Electricity Blackout Hits Entire Nation

The Nigerian economy is on the halt seat again as the the entire nation is on blackout due to the national grid collapsed, first time in 2024. In a statement, the Transmission Company of Nigeria (TCN) said “the grid experienced a partial disturbance at about 11:21 hours with Ibom power islanded, feeding Eket, Ekim, Itu […]

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Business

NITDA DG, Inuwa Flags-off N150m Prize Digital For All Challenge 2.0

The Director General, National Information Technology Development Agency, Mr Kashifu Inuwa has flagged-off the official launch of Digital For All Challenge 2.0, an initiative of TECH4DEV in partnership with NITDA and Foreign, Commonwealth and Development Office. This is an effort to foster digital literacy and cultivate talents and to achieve a 70% digital literacy rate […]

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Business

Industry Bigwigs Arrive kano for 2024 National Council on Communications, Innovation & Digital Economy Confab

Industry bigwigs led by the Minister of Communications, Innovation and Digital Economy, Dr Bosun Tijani have arrived the ancient Kano city for the National Council on Communications, Innovation and Digital Economy Meeting taking place in Kano State Government House’s Coronation Hall. The Governor of Kano State, Engr Abba Yusuf, Director General of National Information and […]

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Minister of transport, Sa’idu Alkali.
Economy

Nigeria to Launch Africa’s First Database for Transport Industry to Enhance Policy Formulation

The Nigerian Government is set to unveil Africa’s first data base for the transportation under its  Smart National Transport Databank initiative. The government hails it as Africa’s first online, real-time, nation-wide comprehensive transport database, with the aim of improving policy formation and ensuring the sector fulfils the demands of the population and economy. The administration […]

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