The naira yesterday closed at N1,240 to dollar in the parallel market. It closed at N1,245 to dollar on Wednesday, representing N5 to dollar appreciation. The local currency has of recent commenced rapid recovery, as volatility in the market dropped after the Central Bank of Nigeria (CBN) commenced dollar sales to bureau de change operators, [...
Two former federal lawmakers, Senator Andrew Uchendu and Honourable Dachung Bagos, have faulted the federal government’s reduction of electricity subsidy. They argued that the timing was wrong. The Nigerian Electricity Regulatory Commission (NERC) on Wednesday, announced an increment in electricity tariff for Band A customers. It explained tha...
Recently, the naira has continued to gain against the dollar at the parallel market, while Nigerians have high expectations that the prices of foodstuff will reduce. A recent market survey conducted by this paper has a contrary view as some prices have remained the same from last week till this week, while some prices of […]
The Nigerian Electricity Regulatory Commission (NERC) has approved the electricity tariff increase for customers under the Band A classification. Band A are those who enjoy electricity supply for 20 hours per day, reports Vanguard. The increase in electricity tariffs in Nigeria would have several direct effects on consumers: Higher util...
Major stakeholders in the hospitality business in Delta State have blamed the epileptic power supply, particularly in the Uvwie, Warri, Sapele, Ughelli, and Udu areas of the state, on power racketeering among officials of the Transmission Company of Nigeria (TCN) and BEDC Plc. They alleged that some officials of TCN and BEDC are selling and [&...
The Peoples Redemption Party, PRP has condemned in very strong terms, the increase in the electricity tariff paid by Band A customers from N68/KWh to N225/kWh by the Nigerian Electricity Regulatory Commission, NERC, describing it as a cynically cruel blow on Nigerians, reports Vanguard. In a statement today by PRP Acting National Publicity Sec...
APM Terminals, Apapa, has begun the recycling of used lubricants and discarded Personal Protective Equipment (PPE) such as boiler suits and reflective jackets. This is in partnership with Kevron Consulting, certified by the relevant authority in Lagos State. The terminal made this known recently, ahead of the International Day of Zero Waste ce...
•Peter Obi The presidential candidate of the Labour Party (LP) in the 2023 genÂeral election, Peter Obi, is worÂried that the federal government spent N10 trillion servicing unÂproductive debts. He raised concerns again at the nation’s rising debt profile, saying that N97.3 trillion is on the high side and worrisome, reports Daily Independent....
The federal government has jacked up the electricity tariff for Band A customers. Band A are those who enjoy electricity supply for 20 hours per day, reports Channels TV. At a press briefing in Abuja today, Musliu Oseni, Vice Chairman of the Nigerian Electricity Regulatory Commission (NERC), said the increase will see customers pay ₦225 [&hell...
The Economic and Financial Crimes Commission (EFCC) will, today, arraign Tigran Gambaryan and Nadeem Anjarwalla, two top officials of Binance Holdings Ltd on five counts of money laundering charge. It was reliably gathered yesterday that Binance, Gambaryan and Anjarwalla, who escaped from lawful custody on March 22 and fled Nigeria, will be ar...
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