Electricity Tariff: Govt can’t afford to pay subsidies – Adelabu Adebayo Adelabu, minister of power, has said the federal government could not afford to pay subsidies on power anymore due to the high indebtedness owed by the generating company. The Minister appearing before the senate committee on[Read More…]
FG announces $10bn Diaspora Investment Fund The federal government has announced plans to set up a $10 billion diaspora fund to attract investment from citizens living abroad. In a post on X on Thursday, Doris Uzoka-Anite, minister of industry, trade and investment, said the federal government is seeking bids from[Read More…]
Nigeria Launches New Fiscal Incentives to Revitalise Oil & Gas Sector, Aiming to Attract $10 Billion Investment … as FG endorses consolidated guidelines Wale Edun, OFR, Minister of Finance and Coordinating Minister of the Economy, presided over a signing ceremony at the Federal Ministry of Finance headquarters[Read More…]
Fidelity Bank: Improved Share Price as Growth Indicator When the management of the Nigerian Exchange Limited (NGX) in July 2023 announced that it was reclassifying Fidelity Bank Plc from small-price stock to medium-price stock, financial analysts concluded that the road to attaining Tier1 status by the bank is closer[Read More…]
FCCPC intervenes in DSTV, GOTV price increase controversy The Federal Competition and Consumer Protection Commission (FCCPC) has intervened in the recent price hike of DSTV and GOTV subscriptions, saying it will be reviewed. Recall that DSTV and GOTV hiked their subscription prices by 25 percent with effect[Read More…]
NNPC assures Nigerians: no increase in petrol prices The Nigerian National Petroleum Company (NNPC) Limited has assured citizen that the prices of petroleum products are not changing. The NNPC in a statement on Thursday by its Chief Corporate Communication Officer, Femi Soneye, urged Nigerians not calm down ànd avoid panic[Read More…]
SR Africa kicks off construction of N250m Abdul Samad Rabiu Sport complex for UniJos The Abdul Samad Rabiu Africa Initiative (ASR Africa), the philanthropic initiative of the Chairman of BUA Group, Abdul Samad Rabiu (CFR, CON), has kicked off the construction of the N250 million sport complex for the[Read More…]
FG to sell 5 electricity distribution companies managed by Banks to Technical Power Operators The federal government says it would sell off five electricity distribution companies (DisCos) under the management of banks and Asset Management Corporation of Nigeria (AMCON) in the next three months to technical power operators.[Read More…]
Yahaya Bello’s female ADC arrested over allegation of aiding his escape The female Aide De Camp (ADC) of former Governor Yahaya Bello of Kogi State has been reportedly arrested by the police. The unnamed ADC, according to a report by the Daily Post, was picked up alongside other police officers[Read More…]
Nigeria’s low tax revenue to GDP is problematic, says IMF The International Monetary Fund (IMF) says Nigeria’s low tax revenue-to-gross domestic product (GDP) ratio is “problematic”. Abebe Aemro Selassie, IMF’s director of the African department, spoke at a news conference on Friday, focusing on the firm’s regional economic[Read More…]
