Business

Nigeria’s economic growth drops to 2.11% in Q4

Nigeria’s Gross Domestic Product, GDP, dropped by 3.83 percent in the fourth quarter of 2015 compared to the growth recorded in the preceding quarter and lower by 0.73 percent recorded in the corresponding quarter of 2014.

The figures released by the National Bureau of Statistics, NBS, sh [...]

Sun, 13 March 2016


FG cautions telcoms over unauthorized charges

The federal government has promised to evoke relevant laws against telecommunication operators who are in the habit of defrauding innocent consumers through unauthorized charges, and other fraudulent means.

Minister of communications, Mr. Adebayo Shittu, who handed down the warning at a meeting [...]

Sun, 13 March 2016


NEMSA ban use of untreated wooden poles for power installations

As parts of efforts to sanitize, and maintain safety standard in the power sector, the Nigerian Electricity Management Services Agency, NEMSA, has announced the ban on the use of untreated wooden poles, substandard materials and poor installations by electrical contractors and distribution companies.< [...]

Sun, 13 March 2016


Fraud: CBN wields big hammer, suspends officials

Some staffers of the Central Bank of Nigeria, CBN, are currently on suspension to allow for proper investigation over the recent attempt to defraud the apex bank.

Though the bank has been silent on the affected staff, sources say top officials of the bank have been suspended over the racket, wh [...]

Sun, 13 March 2016


An oversight visit of the committee to SEC headquarters in Abuja.

L-R, Deputy chairman, House Committee on Capital Market, Nwulu Chinedu, DG, Securities and Exchange Commission, Mounir Gwarzo, chairman of the committee, Tajudeeen Yusuf and a member of the committee, Damburam Abubakar, during an oversight visit of the committee to SEC headquarters in Abuja.

Mon, 07 March 2016


“Addressing Future Challenges of the Energy Sector: The Renewable Energy Path.’’ in Abuja.

L-R: Director of Energy, Cranfield University, UK, Prof. Feargal Brennan, Director of Gas, Ministry of Petroleum Resources, Mr. Armaya’u Kurfi and Acting Executive Secretary, Petroleum Technology Development Fund, Mr. Ahmed Aminu during a seminar; “Addressing Future Challenges of the Energ [...]

Mon, 07 March 2016


FG would not probe Adesina, says Ogbeh

Contrary to claims in some section of the media that the current Minister of Agriculture and Rural Development, Chief Audu Ogbeh, would be probing former minister, Dr. Akinwunmi Adesina, Ogbeh said he has only commendation for his predecessor.

The minister, who spoke at an interactive session w [...]

Mon, 07 March 2016


Power generation hits 4,200MW

Power supply across the country is gradually picking up, as the Transmission Company of Nigeria, TCN, reveals that power generation has moved up to 4,200 megawatt, MW, after the sharp reduction from the 5,074MW generation peak recorded on February 2, 2016.

Nigeria’s average electricity gr [...]

Mon, 07 March 2016


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