Author: Julius Alagbe

Oil theft: 7.68m Barrel Stolen/Lost, FG Tasks CSOs on Significant Answers The Federal Government says that 7.68 million crude oil barrels were either stolen or lost in 2023, urging Civil Society Organisations (CSOs) to focus on significant findings for environmental protections. Dr Orji Ogbonnaya Orji, Executive Secretary, Nigeria Extractive Industries Transparency Initiative (NEITI), said this at a CSOs Roundtable, in Abuja on Thursday. The programme was organised by the NEITI in partnership with Rule of Law and Anti-Corruption (RoLAC). Orji said that there was a 79 per cent drop in the crude oil theft in 2023 compared to 2022. According…

FG Apologises Over National Grid Collapse The Federal Government has apologised over the recent collapse of the national grid which caused power outages for several days in 17 states in the region. The Minister of Power, Chief Adebayo Adelabu, gave the apology on Thursday during a courtesy visit to Gov. Abba Yusuf of Kano State, describing the situation as “very unfortunate.” Adelabu said the Federal Government was overhauling the national grid to reduce the frequent disturbances in the system and improve power supply across the country. He said that the national grid was over 50 years old, with components that…

FG Pledges Affordable Housing for Low-Income Earners Architect Ahmed Dangiwa, Minister of Housing and Urban Development, has reaffirmed the Federal Government’s commitment to provide affordable housing for low-income earners across Nigeria. Dangiwa, speaking at an event commemorating the 2024 Urban October and World Habitat Day in Abuja on Thursday, emphasised the government’s focus on policies supporting lower-income individuals. The World Habitat Day is a day set aside by the United Nations to promote a better urban future. The year 2024 day is themed, “Engaging Youth to create a better urban future and Youth leading climate and local action for cities.”…

Nigeria, Germany, EU unveil Programme to Boost Sustainable Energy Sector The European Union (EU), Germany and Nigeria on Thursday unveiled the third phase of the Nigerian Energy Support Programme (NESP), aimed at bolstering Nigeria’s sustainable energy sector. The programme seeks to support the federal government’s effort by fostering investments in renewable energy, energy efficiency and rural electrification. Speaking at the event, which was also the first NESP III Steering Committee meeting, the Permanent Secretary, Ministry of Power, Mahmuda Mamman, appreciated the EU and Germany for their support. According to him, attracting more investments in renewable energy and energy efficiency, was…

Buni Presents N320.8bn Appropriation Bill for 2025 Before House of Assembly Gov. Mai Mala Buni of Yobe, on Thursday, presented a N320.8 billion Appropriation Bill for the 2025 fiscal year before the state House of Assembly. Speaking at the occasion in Damaturu, Buni said that the estimates tagged “Budget of Economic Consolidation and Poverty Reduction” was aimed at completing ongoing projects in the state. He said N176.8 billion was earmarked for capital expenditure while recurrent expenditure was N144 billion. According to him, the capital and recurrent expenditures represent 51.1 per cent and 44.9 per cent respectively of the total budget.…

Diri Presents N689.4bn 2025 Budget to Bayelsa Assembly Gov. Douye Diri of Bayelsa on Thursday presented a total budget of N689.4 billion christened, Budget of Assured Prosperity, for the 2025 fiscal year. Diri, who made the presentation at the plenary of the assembly, said that implementation of the 2025 budget would require some level of efficiency and synergy in government activities across ministries, departments and agencies. Giving the expenditure breakdown in some of the sectors, Diri said the sum of N178.7 billion was budgeted for Works and Infrastructure; Education, N47.1 billion and Sports N37.8 billion. Others are Urban and Housing…

EKEDC Announces the Commencement of the STS 2.0 Free Meter Upgrade on October 31 …..Encourages Customers to Load Previous Tokens Before Upgrading Eko Electricity Distribution Company (EKEDC) has set Thursday, October 31, 2024, as the starting date for the Standard Transfer Specification (STS) 2.0-meter upgrade for its metered customers. This upgrade, prompted by the scheduled expiration of the current vending platform, will transition customers to a more advanced and efficient system. The upgrade process is simple and can be completed by following these easy steps: Visit (http://kctcheck.ekedp.com), enter your meter number, and click “search.” Retrieve two sets of 20-digit Key…

Zenith Bank Profit Grows by 90.5% to N827 Billion Zenith Bank Plc profit has increased by 90.5% year on year to N827.2 billion in 12 months, according to details from its financials submitted on the Nigerian Exchange. In its unaudited 9M-2024 financial statement, Zenith Bank Plc pretax profit reached an all-time high level of N1 trillion, which was +98.5% above N505.1 billion recorded in the equivalent period in 2023. The significant improvement in earnings performance in the period stem from its core operations, despite cost pressures from interest paid to fund providers, impairment charges, and operating expenses. Details from its…

Prices of crude oil climbed on Thursday as economic activity in China began to pick up.  The international oil benchmark….

Aradel Holdings Plc grew profit after tax by more than 169% to $88.825 million, according to details from the company’s unaudited financial statement