ASCSN urges Govt to reverse electricity tarrif Comrade Tommy Okon, the National President of ASCSN, has urged the federal government to reverse the electricity tarrif back to N66 per kWh from N225. On April 3, the Nigerian Electricity Regulatory Commission (NERC) approved an increase in electricity tariff[Read More…]
Ikeja Electric adds 19 new Band A feeders to communities Hours after slashing the tariff for Band A customers who get between 20-24 hours of electricity supply daily, Ikeja Electric has added more communities to the Band A network. The regions Incorporated into Band A of the Disco network[Read More…]
NERC Unbundles TCN, sets up new system operator The Nigerian Electricity Regulatory Commission (NERC) has unbundled the Transmission Company of Nigeria (TCN) with the establishment of the Nigerian Independent System Operator of Nigeria Limited (NISO). NERC made this known in an Order dated April 30, 2023 and[Read More…]
Transcorp Group delivers impressive Q1 2024 performance, sustains revenue growth of 173% and PBT of N45bn Transnational Corporation Plc (“Transcorp” or the “Group”), Nigeria’s leading, listed conglomerate with investment in the Power, Hospitality, and Energy sectors, has announced impressive Q1 financial results for the period ended March 31, 2024. In[Read More…]
FG to harness Nuclear energy for electricity generation The Nigeria Atomic Energy Commission (NAEC) in partnership with the Centre for Energy Research and Training (CERT), Ahmadu Bello University, Zaria, are in plans to deploy nuclear technology to strengthen electricity generation in Nigeria. Yusuf-Aminu Ahmed, chairman of NAEC,[Read More…]
Fidelity Bank records a 120.1% growth in PBT to N39.5bn in Q1 2024 In line with its upward growth trajectory, leading financial institution, Fidelity Bank Plc, has posted an impressive 120.1% growth in Profit Before Tax from N17.9bn at the end of Q1 2023 to N39.5bn for Q1[Read More…]
NDIC Raises Depositors Coverage for Banks from N500,000 to N5m The Nigeria Deposit Insurance Corporation has announced the increase of the Maximum Deposit Insurance Coverage for banks operating within the country. At a media briefing held in Abuja, NDIC’s Managing Director, Bello Hassan, revealed the new coverage benchmarks. The[Read More…]
Leadership Means Always Believing in Better – CEO, Sterling Bank Abubakar Suleiman, the Chief Executive Officer of Sterling Bank Limited, delivered an enlightening discourse on leadership during the prestigious Lagos Leadership Summit 2024, powered by the Lateef Jakande Leadership Academy, shedding light on the profound essence of effective leadership[Read More…]
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…]
