Author: Ogochukwu Ndubuisi

Global index provider FTSE Russell has reclassified Nigeria’s capital market from “Unclassified”

91.4% of Personal Pension Accounts Remain Unfunded – PenCom ​‌‍⁠‌‍⁠⁠‌‍​​‍‍​⁠⁠‌​ The Personal Pension Plan (PPP) recorded 219,316 registrations from inception to the first quarter of 2026, with only 18,811 accounts funded. This is according to the first quarter pension industry data released by the National Pension Commission (PenCom). The data showed that funded Retirement Savings Accounts (RSAs) accounted for 8.6 per cent of total PPP registrations, while 200,505 accounts, representing 91.4 per cent, remained unfunded. The figures highlighted the significant challenge facing the PPP, particularly the need to convert registrations into active accounts with sustained pension contributions. The data…

TCN has Capacity to Wheel 8,700MW Bulk Electricity – Official The Transmission Company of Nigeria (TCN) says it has expanded the country’s grid wheeling capacity to over 8,700 MegaWatts (MW) in the last year. Mr Oluwagbenga Ajiboye, TCN’S Executive Director, Transmission Service Provider (TSP), disclosed this on Thursday at a three -day capacity workshop for Power Correspondents in Keffi, Nasarawa State. The workshop has the theme, ”Assessing the Impact and Challenges of Transmission Network in Nigeria”. According to Ajiboye, if the Electricity Distribution Companies (DisCos) are ready to pick up load, TCN can conveniently wheel 8,700 MW of bulk electricity.…

Elektron Energy, an embedded power developer, unveiled its Victoria Island Power…

The Minister of Finance and Coordinating Minister of the Economy, Mr Taiwo Oyedele, says Nigeria’s economy has stabilised.

President Bola Ahmed Tinubu has urged the management of Nigeria Liquefied Natural Gas

Guinea-Bissau to Vote on Constitution Expanding Presidential Powers Guinea-Bissau will hold a constitutional referendum on Aug. 30 on proposed reforms that would expand presidential powers and reshape the rules for elections scheduled for December. The West African country is currently led by military officers who staged a coup in 2026. Under the current constitution, the legislature appoints the prime minister, who forms the cabinet. However, the proposed constitution would empower the president to appoint and dismiss the prime minister and cabinet. The president would also be able to create or abolish government ministries, chair the Council of Ministers and dissolve…

Slovakia Moves to Ban Social Media for Children Under 16 The Slovak government has approved a bill proposing a ban on social media use for children under the age of 16, citing risks of addiction, social pressure and radicalisation. The bill, approved on Wednesday, will prohibit the creation of social network accounts for under-16s and introduce mandatory age verification, according to documents published on the government’s website. The proposal will now go to parliament for approval. According to an accompanying report, the measure responds to the growing role of online platforms and social networks in spreading violent, extremist and harmful…

Electricity Distributors Lament Unpaid Bills by MDAs The Association of Nigerian Electricity Distributors (ANED) has raised concerns over outstanding electricity debts owed by government Ministries, Departments and Agencies (MDAs). Mr Sunday Oduntan, the Managing Director and Chief Executive Officer of ANED, said this in an interview with the News Agency of Nigeria on Wednesday in Abuja. Oduntan said delayed or non-payment by government institutions continued to worsen the financial strain on DisCos. He urged the Federal Government to treat electricity obligations owed by MDAs as a direct first-line charge on approved budgets to ensure timely payment. “DisCos need to be…

Germany Returns to Growth After 3 Years of Recession – Merz German Chancellor Friedrich Merz on Wednesday said  that the country was returning to economic growth after three years of recession, pledging a renewed focus on expanding the economy. Merz made the remarks after a two-day Cabinet retreat at Neuhardenberg Castle in Brandenburg, expressing confidence in Germany’s economic prospects. “We have three years of recession behind us, and now we are growing again,” Merz said, stressing the need for a stronger focus on economic growth. He said Germany was entering the remaining months of 2026 with “energy” and confidence, expressing…