Author: Ogochukwu Ndubuisi

NERC Holds Public Hearing on Aba Power’s Tariff Review Application The Nigerian Electricity Regulatory Commission (NERC) has taken a significant step towards ensuring transparency and stakeholder engagement in the electricity sector. On Wednesday, the commission held a public hearing on the application submitted by Aba Power Limited Electricity (APLE) for an upward review of its electricity tariff. The hearing, which took place at NERC’s headquarters in Abuja, brought together stakeholders, business owners, and residents from Aba. This public hearing is part of NERC’s statutory obligation to ensure that any tariff review is fair and reflects the realities on the ground…

Tinubu Appoints Shamseldeen Babatunde Ogunjimi as Acting Accountant General Of The Federation President Bola Ahmed Tinubu has appointed Shamseldeen Babatunde Ogunjimi as the Acting Accountant General of the Federation, effective immediately . Ogunjimi takes over from Dr. (Mrs.) Oluwatoyin Sakirat Madein, who has proceeded on pre-retirement leave. With over 30 years of experience in financial management, Ogunjimi is well-equipped to handle the role. His extensive background in both the public and private sectors makes him an ideal candidate to ensure a seamless transition in the administration of Nigeria’s treasury ². As the most senior director in the Office of the…

Eastern Ports Set for Investment Boost as Dantsoho Tours Onne and Rivers Port Complexes In a bid to increase investment in Nigeria’s port infrastructure, the Managing Director of the Nigerian Ports Authority (NPA), Dr. Abubakar Dantsoho, recently embarked on a tour of the Onne and Rivers Port Complexes . This move is part of the current administration’s efforts to enhance Nigeria’s competitiveness in vessel and cargo traffic, catering to the needs of the country’s vast population of over 200 million. During the tour, which took place on December 4th and 5th, 2024, Dr. Dantsoho emphasized the need for increased investment…

Otti Presents N750bn Budget Estimate for 2025 to Assembly Gov. Alex Otti of Abia, on Tuesday, presented a budget estimate of N750, 282, 200, 000.00 for the 2025 fiscal year to the House of Assembly. The budget is tagged, “Budget of Sustained Momentum”. Speaking at the presentation on the floor of the house, Otti said that the 2025 proposal represented about 30 per cent increase from the 2024 figures, and a testament of his administration’s progressive aspirations. He said that the key variables had been aggregated to keep the government on the right trajectory to sustain socio-economic development in the…

NLNG Targets Fleet Overhaul, Emissions Reduction by 2040 Mr Nnamdi Anowi, the General Manager of Production, NLNG, says the company plans to replace all its vessels with modern ships within the next decade. Anowi disclosed this during the World Leaders’ Panel session on Tuesday in Berlin, Germany, as part of the 2024 World LNG Summit and Awards The 2024 summit has its theme as; “Achieving the Balance between Energy Security and Decarbonisation”. “We are making significant strides in our shipping operations. Over the next 10 years, we aim to transition from our current steam-powered vessels to modern ships. “Earlier this…

We Must Embrace Technology to Drive Growth – Tinubu President Bola Tinubu said on Tuesday the country must embrace technology, innovation, and knowledge-based opportunities to drive growth. The President said this while inaugurating the new Nigeria Immigration Service (NIS) technology complex in Abuja. NIS complex comprises seven key components, including a data centre, command and control centre, and visa approval centre, among others. Tinubu also said the centre was inaugurated to provide a sustained communication architecture linking relevant agencies with collaborative technology along a trusted information network. He commended the leadership and commitment demonstrated by those involved in the project,…

Equities investors saw more than N60 billion gain on Tuesday as oil and telecom stocks rallied. Reversing the downturn recorded at the beginning of the week,

Bitcoin Drags Cryptos Market Cap Down by 2.4% Selloffs in Bitcoin and other top 10 crypto assets dragged by about 2.4% in the last 24 trading hours. Bitcoin plunged from its all-time high as retail investors continued to book profit in the crypto markets. Data showed that the global crypto market cap slumped to $3.48 trillion, which represents a 2.35% decrease over the last day. Information obtained from CoinMarketCap.com revealed that the total crypto market volume over the last 24 hours printed at $341.77 billion, which makes a 84.28% increase. Also, the total volume in DeFi inched to $26.3 billion,…

The Bank of Industry (BOI) says it has disbursed N22.89 billion out of the N75 billion manufacturing sector intervention fund to 29 manufacturers.

The money market saw a sharp increase in interbank rates at the start of the week, reversing a previous trend, as there were no notable inflows to improve the financial system’s liquidity balance.