We must be faster – Tinubu on Siemens, Nigeria nationwide electricity project
President Bola Ahmed Tinubu has called for accelerated efforts on Nigeria’s nationwide electricity project in collaboration with Siemens, emphasizing the need for speed in delivering stable power to homes and businesses across the country. Speaking on the project, Tinubu stressed that electricity is crucial for Nigeria’s economic growth, industrialization, and overall development. He urged stakeholders […]
EEDC begins free prepaid metre rollout
The Enugu Electricity Distribution Company (EEDC) has officially started the rollout of free prepaid electricity meters to its customers. This initiative is part of the company’s ongoing efforts to improve power distribution, enhance billing transparency, and ensure accurate electricity consumption tracking. According to EEDC officials, the free prepaid meters will help reduce estimated billing disputes, […]
NUPRC announces date for fresh oil bloc licensing auction in Nigeria
The Nigerian Upstream Petroleum Regulatory Commission (NUPRC) has announced the date for a fresh licensing auction of oil blocs in Nigeria. The auction aims to attract investors and boost exploration and production activities across the country’s petroleum sector. According to NUPRC, the new auction date has been set following adjustments to ensure transparency and fairness […]
39 firms drag Nigerian stock market to 4th consecutive losses
The Nigerian stock market recorded its fourth consecutive day of decline as 39 companies experienced losses, leading to a continued drop in investors’ confidence. Market experts say the downward trend is driven by sell-offs across key sectors, especially banking, industrial goods, and consumer goods. This persistent decline has increased worries among traders and analysts, who […]
AEDC sacks over 800 Nigerian workers
The Abuja Electricity Distribution Company (AEDC) has reportedly terminated the employment of more than 800 Nigerian workers across different departments and branches. According to sources, the mass layoff was part of a restructuring process aimed at improving efficiency and reducing operational costs within the company. Many of the affected workers described the decision as sudden, […]
Nigerian govt mulls sale of NNPCL refineries
The Nigerian government is reportedly looking into the possibility of selling the refineries owned by the Nigerian National Petroleum Company Limited (NNPCL). According to top officials, this option is being reviewed as part of wider plans to reform the oil sector and improve fuel supply across the country. The move comes after years of investment […]
Nigerian filling stations reduce fuel price as landing cost drops
Fuel prices in Nigeria have started dropping as filling stations adjust pump rates following a decline in landing cost. According to reports, marketers are reducing prices in several states and major cities to reflect the lower cost of importing petrol into the country. This development comes as many Nigerians continue to struggle with high living […]
Naira records second depreciation against US dollar
The Nigerian Naira has fallen again against the US dollar, marking its second consecutive day of depreciation. This continued slide comes as pressure remains high in the foreign exchange market. Traders and forex watchers say demand for the dollar has continued to rise, while supply remains tight, pushing the currency further down. Market reports indicate […]
NNPCL reaffirms plan to hit 2 million barrels daily by 2027
The Nigerian National Petroleum Company Limited (NNPCL) has repeated its commitment to raising the country’s crude oil production to two million barrels per day by 2027. The company explained that several strategic reforms, investments in technology, and partnerships with private firms are already being put in place to achieve this goal. According to NNPCL, boosting […]
15 per cent fuel duty: Stakeholders, NLC raise concerns over tariff policy
The decision by President Bola Ahmed Tinubu to approve a 15% import duty on petrol and diesel has sparked debates across the country, with labour unions and economic stakeholders expressing deep concerns about its impact on Nigerians. The policy, expected to take effect in the coming weeks, will result in a significant rise in pump […]