Author: Ogochukwu Ndubuisi

FG Commissions Two 63MVA, 132/33KV Mobile Substations FGN Power Company (FGNPC), in collaboration with Siemens Energy, on Friday commissioned two 63MVA, 132/33KV Mobile Substations at the University of Ibadan, Ibadan, and Saapade in Ogun. The Minister of Power, Adebayo Adelabu, while commissioning the substations, said the project was a testament to the government’s commitment to delivering reliable and sustainable power to all Nigerians. Adelabu added that the project aligned with the Federal Government’s vision to modernise Nigeria’s power sector and improve the quality of life for the citizens. “These mobile substations, along with other equipment undergoing installation under the pilot…

NCC Hosts Stakeholders’ Forum on A2P Licensing Framework The Nigerian Communications Commission (NCC) recently hosted a Virtual Stakeholders’ Forum on the Draft A2P Licensing Framework. The event, held on December 20, 2024, aimed to deliberate on the critical segment of the telecommunications ecosystem affecting businesses, consumers, and service providers. The forum marked a pivotal step toward addressing challenges in the international A2P messaging space in Nigeria, including consumer protection, fraud prevention, and ensuring industry fairness The proposed regulatory framework seeks to foster innovation while ensuring all players operate in a fair, transparent, and secure environment. The NCC emphasized the importance…

Abdulrazaq Presents 2025 Budget of N540bn to Kwara Assembly Kwara State Governor Abdulrahman Abdulrazaq laid the 2025 appropriation bill before the parliament Friday, substantially focusing on completing ongoing projects, starting new ones, and doubling down on social protection for the people of the state. Valued at N540, 368, 119, 765.00, capital expenditure guzzles 62.1% of the fiscal plan while recurrent gets 37.9%. The Governor said the budget will complete the major infrastructural projects across the state, and fund new ones such as 250 units of mass housing and inner roads in the smart city — another big feather to his…

Chinese Yuan Strengthens 7.1901 Against Dollar The central parity rate of the Chinese currency renminbi, or the Yuan, strengthened 10 pips to 7.1901 against the dollar Friday. This is according to the China Foreign Exchange Trade System. In China’s spot foreign exchange market, the Yuan is allowed to rise or fall by two per cent from the central parity rate each trading day. The central parity rate of the Yuan against the dollar is based on a weighted average of prices offered by market makers before the opening of the interbank market each business day. #Chinese Yuan Strengthens 7.1901 Against…

Enugu to Spend N320.6bn on Education The Enugu State Government in 2025 is to spend N320.6 billion on the education sector out of the total budget of N971.84 billion. The state’s Commissioner for Budget and Planning, Chief Chris-Roberts Ozongwu, said this in Enugu on Thursday while giving a breakdown of the 2025 budget christened: ‘Budget of Exponential Growth and Inclusive Prosperity.” Ozongwu said that in the education sector, the government would construct 200 Integrated Model Smart Schools, Primary 1 – JSS 3, at N100 billion. “The government earmarked N146 billion for equipping Smart Schools across the 260 political wards in…

Supreme Court, NAHCON, Others Fail ICPC Integrity Scorecard The ICPC has revealed that the Supreme Court of Nigeria, the National Hajj Commission of Nigeria (NAHCON), and 13 other agencies failed to meet the requirements of its 2024 Ethics and Integrity Compliance Scorecard (EICS). This announcement highlights the failure of several key institutions to meet the required ethical standards and guidelines set by the ICPC for the year. Dr Musa Aliyu, Chairman of the ICPC, made this revelation while unveiling the agency’s EICS on Thursday in Abuja. The Chairman was represented by Demola Bakare, the ICPC Director of Public Enlightenment and…

The naira exchange rate gained across the foreign exchange markets as a surplus FX position keeps demand pressures in check. According to data from the FMDQ platform, the naira spot rate appreciated by 0.18%, closing at N1,541.38 per US dollar in the official market. 

2025 Appropriation Bill Passes 2nd Reading in Senate The Nigerian Senate, on Thursday, passed for second reading the 2025 Appropriation Bill of N49.7 trillion. The appropriation bill was presented to the joint session of the National Assembly by President Bola Tinubu on Wednesday. The passage of the bill for second reading followed the presentation of its general principles at plenary on Thursday by the Majority Leader, Sen. Opeyemi Bamidele (APC-Ekiti). Leading the debate on the general principles, Bamidele said that the bill was deemed to have been read the first time when it was laid before the joint session of…

Aradel Holdings Plc, and some banking names are driving positive momentum on the Nigerian Exchange (NGX) trading platform during early trading hours on Thursday. Investors are hunting for oil stock and Aradel Holdings has become an attractive counter amidst sustained bullish trend in the local bourse.

Chinese Yuan Weakens to 7.1911 Against Dollar The central parity rate of the Chinese currency renminbi, or the Yuan, weakened 31 pips to 7.1911 against the dollar on Thursday. This is according to the China Foreign Exchange Trade System. In China’s spot foreign exchange market, the Yuan is allowed to rise or fall by two per cent from the central parity rate each trading day. The central parity rate of the Yuan against the dollar is based on a weighted average of prices offered by market makers before the opening of the interbank market each business day. #Chinese Yuan Weakens…