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Tuesday, August 4, 2020
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World Bank approves $750m for Nigeria’s power sector recovery

This is ultimately what is needed to lift 100 million Nigerians out of poverty. The World Bank has...

New electricity tariff starts in July, FG tells Senate

The Federal Government told the Senate on Tuesday that the new increment on electricity tariff would take off next month, July.

FG removes petrol price cap, gives marketers freedom to fix price

The Petroleum Products Pricing Regulatory Agency, PPPRA, has removed the cap on the price of Premium Motor Spirit (PMS), also known as...

FG reduces petrol pump price to N121.50

The Petroleum Products Pricing Regulatory Agency (PPPRA) has announced a new pump price band of N121.50 to N123.50 per litre for Premium...

Expect 11,000 MW of electricity by 2023 – Lai Mohammed

Electricity supply is expected to rise to 11,000 megawatts by 2023 under an agreement with the German firm Siemens, Information and Culture...

DisCos ask court to stop FG’s forensic audit

Electricity distribution companies (DisCos) have dragged the federal government to court over alleged undue interference in their business operations.

Malabu Oil Deal: Nigerian govt’s $1bn lawsuit against Shell, Eni struck out by UK court

The Nigerian government's $1 billion lawsuit against oil giants; Royal Dutch Shell and Eni, has been dismissed by a UK court on...

FG fires MD of power transmission company, appoints replacement

Usman Gur Mohammed (pictured) has been relieved of his appointment as the managing director of the Transmission Company of Nigeria (TCN).

NNPC reduces ex-depot price of petrol to N108 per litre

The Nigerian National Petroleum Corporation (NNPC) has announced a downward review of the ex-depot price of petrol from N113.28 per litre to...

National grid collapses, plunges generation to 2,983mw

The national electricity grid system suffered collapse early Wednesday, but was restored shortly by the Transmission Company of Nigeria, TCN, leaving power...

Oil rebounds above $14 after massive sell-off

US oil prices rebounded above $14 a barrel Wednesday, a day after a sell-off sparked by a major fund selling its short-term...

U.S. crude prices down to $0 per barrel

United States oil prices crashed Monday to a record low amid a collapse in demand caused by the coronavirus pandemic.
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Meet Nigerian who will buy Shoprite’s stake

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Sadiya Farouq: School feeding during lockdown cost N523.3m

The Nigerian Government spent about N523.3 million on school feeding programme during the lockdown against the coronavirus pandemic. Minister...

Elumelu threatens legal action over ‘false allegation’ of N41 billion fraud

The former Managing Director of the United Bank for Africa (UBA), Mr Tony Emumelu, has given the chairman of the Senate Committee...

‘We’re Not Leaving’ – Shoprite Reacts To Exit Rumour, Makes U-Turn

ShopRite Nigeria has reacted to the story making the rounds that it intends to close shop in Nigeria. Recall...