BUSINESS
MTN, Havenhill Synergy, Others Get Permits To Generate Electricity
The Nigerian Electricity Regulatory Commission has issued permits to Golden Penny Power Limited, MTN Communications Nigeria Limited, Havenhill Synergy, and others for mini-grid electricity generation. The NERC said it issued nine new off-grid generation licences in the first quarter of 2024 with a gross capacity of 109.69 megawatts and three new trading licences. According to a report by the commission, Golden...
Togo, Benin Yet To Remit $14m Electricity Bill Owed To Nigeria — FG
None of the four international bilateral customers being supplied by the power generation companies in the Nigerian electricity supply industry made payment against the cumulative invoice of $14.19m issued by the market operator for services rendered in the first quarter of 2024. The Nigerian Electricity Regulatory Commission revealed this in a report sighted by our correspondent. The foreign companies are Para-SBEE...
Vice President Shettima Commends MSMEs For Providing Jobs For 80% of Nigeria’s Workforce
Vice-President Kashim Shettima, on Tuesday, asserted that 80 percent of Nigeria’s workforce would have been without job except for the existence of Micro, Small Medium Enterprises (MSME). Shettima asserted Makurdi, Benue State capital, during the commissioning of Benue State Fashion Hub and Benue Printing and Publishing Corporation. He said, “MSME is the backbone of of Nigeria economy, it accounts for 96...
FG Appoints Managers To Lead $10bn Global Investment Fund
Twenty-three fund managers have been appointed by the Federal Government of Nigeria to lead the $10 billion Nigeria Global Investment Fund. A transformative initiative aimed at channeling both international and local investments into the nation’s key economic sectors, including agriculture, manufacturing, energy, infrastructure, and fintech. According to a presentation document obtained by Nairametrics, the NGIF is a cornerstone of Nigeria’s broader...
Reduce Prices Of Items Within One Month, FG Tells Traders
The Federal Competition and Consumer Protection Commission (FCCPC) has given one month moratorium to traders and other market stakeholders involved in exploitative pricing to crash the prices of goods. The newly appointed Executive Vice Chairman of the FCCPC, Mr Tunji Bello, said this at a one-day stakeholders’ engagement on exploitative pricing on Thursday in Abuja. According to Bello, the Commission will...
Dangote Refinery Presents First Petrol Sample
The President of Dangote Group, Aliko Dangote, has presented the first sample of Premium Motor Spirit, otherwise known as petrol. Dangote made this presentation on Tuesday in a broadcast at his refinery situated in the Ibeju-Lekki Area of Lagos State. The 650,000-capacity refinery engaged in a test run of the product. “I would like to salute the people of Nigeria and the...
NNPC Stations ‘Jerks Up’ Petrol Pump Price To N855/Litre
Some retail stations of the Nigerian National Petroleum Company (NNPC) are selling petrol at N855 per litre in some parts of Lagos, according to a viral video on social media. The video, shared by a disgruntled buyer, revealed that the pump price displayed on a machine at a petrol station in Ikoyi, Lagos was N855 per litre. The development came amid growing concerns...
No Plan To Regulate Market Prices — FG
The Federal Competition and Consumer Protection Commission (FCCPC) on Tuesday said it has no plans to regulate prices in the Nigerian market. FCCPC in a statement by its spokesman, Ondaje Ijagwu, clarified that its recent directives are solely aimed at curbing exploitative practices and maintaining a competitive marketplace. The statement came in response to feedback from the Organised Private Sector and...
VP Shettima Summons Lokpobiri, Mele Kyari, Ribadu Over Petrol Price Hike
Vice President Kashim Shettima has summoned the Minister of State for Petroleum Resources (Oil), Senator Heineken Lokpobiri, and Group Managing Director of Nigerian National Petroleum Company Limited (NNPCL), Mele Kyari. Also summoned on Thursday at the Presidential Villa is the National Security Adviser, Nuhu Ribadu over the recent hike in the price of Premium Motor Spirit (PMS), popularly known as...
Petrol Queues Disappearing This Weekend, Says Minister
The Minister of State (Oil) Petroleum Resources, Heineken Lokpobiri, says there is availability of petrol despite the scarcity and hike in the price of the product. He stated this on Thursday while briefing journalists at the Presidential Villa, Abuja after meeting with Vice President Kashim Shettima. “What is important is that products are available in the country,” he said. The minister also...
