BUSINESS
Abia Residents Carpet EEDC Over Increase In Electricity Tariff
Public power consumers in Abia State, South East Nigeria, are lamenting the latest hike in electricity tariff by the Enugu Electricity Distribution Company, EEDC. The people who described the tariff increase as unbearable, accused the energy supply company of not considering the present economic challenges facing Nigerians in its business decisions. About six months ago, the Abia State House of Assembly...
Nigeria Air Set To Commence Operations By April 2022
The proposed national carrier will begin a flight in April next year, the Minister of Aviation, Hadi Sirika, has said. The development came three years after the Federal Government announced plans to establish a new national carrier, following the liquidation of Nigerian Airways in 2003. At the end of a virtual Federal Executive Council meeting presided over by the Presiden Muhammadu...
AEDC New Board, Interim Management Team Assume Office
The new board and interim management of Abuja Electricity Distribution Company has assumed office. The board is made up of Victor Osadolor as Chairman. Osadolor is currently Chairman of UBA Pensions, a non-executive director of African Finance Corporation (AFC), and former deputy managing director of the United Bank for Africa (UBA). He is a seasoned finance and business turnaround expert with over...
Nigeria Got Nothing In Second Quarter 2021 For Giving Togo, Benin Republic, Niger Power — NERC
The Nigerian Electricity Regulatory Commission (NERC) has said that three neighbouring countries did not make any payment for the second quarter of 2021. In its recently released Second Quarter Report 2021, the NERC revealed that the countries (Togo, Benin Republic, and Niger) and some other special customers were issued a total bill of N770m by the Nigerian Bulk Electricity Trading...
Arik Sacks 10 Pilots Who Protested Pay Disparity, Welfare With Foreign Colleagues
The management of Arik Air has dismissed at least 10 of its pilots for embarking on industrial action without due notice. The Guardian learnt that the aggrieved pilots began strike this week in protest against protracted wage disparity between expatriate and Nigerian pilots that has still not been resolved by Arik Air. The management, in a memo, yesterday, described the protest...
Customers’ Complaints Arose More On Electricity, Banking, Followed By Aviation And Telecommunication In 2021 — FCCPC
The Federal Competition and Consumer Protection Commission (FCCPC) says electricity has again topped its 2021 consumer-related complaints chart just like in 2020. The Chief Executive Officer of the Commission, Mr Babatunde Irukera, told newsmen in Abuja on Sunday that banking-related complaints were second on the chart. Irukera explained that aviation and telecommunication related complaints followed the chart. He said that the commission...
FG Expresses Sadness Over Next Cash N Carry Fire, Pledges Support
THE federal government, Wednesday, described last Sunday’s fire incident at Next Cash & Carry, Abuja, which described goods worth several billions of naira as a sad development to the country. The government which sympathised with the management of the business organisation pledged its readiness to offer possible assistance towards its resuscitation. Minister of Humanitarian Affairs, Disaster Management and Social Development, Sadiya...
CBN, NTA, Others Return Over N1tr To Government
Nigeria’s independent revenue crossed the N1 trillion mark in 2021, ABN TV learnt on Wednesday. Minister of Finance Budget and National Planning Mrs Zainab Ahmed stated this at the public presentation of the 2022 Appropriation Act. Independent revenues are generated by the Federal Government from agencies captured under the Fiscal Responsibility Act. They include the Central Bank of Nigeria (CBN), the Nigeria...
My Refinery To Commence Operations Before September, Says Dangote
Alhaji Aliko Dangote, President of Dangote Group, says the Dangote Refinery and Fertiliser projects will come on stream before the end of third quarter of this year. He said this when Dr. Akinwumi Adesina, President of the African Development Bank (AfDB) led a delegation of the bank to the project site in Lagos. “The refinery will commence operation by the third...
MTN Pays $253.86m Balance To NCC For 5G Licence
MTN Nigeria has paid the remaining $253.86 million to complete the $273.6 million fifth-generation (5G) licence fee to the Federal Government before the February 24 deadline, an industry source said on Thursday. MTN and Mafab Communications were allocated slots for the 3.5 gigahertz (GHz) spectrum dedicated to the deployment of the technology after emerging winners conducted by Nigerian Communications Commission...
