Author: Ogochukwu Ndubuisi

DisCos Remit N385,44bn to Electricity Market in Q2,2026 – NERC The Nigerian Electricity Regulatory Commission (NERC) on Thursday said electricity distribution companies (DisCos) remitted N385.44 billion in the second quarter of 2026. The ​‌‍⁠‌‍⁠⁠‍‌​‍⁠‌⁠⁠‌‌​figure is contained in the commission’s second quarter 2026 operational and commercial performance report posted on its X handle in Abuja on Thursday. The report gave an overview of key operational, commercial, metering and regulatory developments across the Nigerian Electricity Supply Industry. The report shows that the DisCos achieved an overall market remittance rate of 94 per cent. It said that the payment settled invoices issued by the…

Tinubu Urges IOCs to Give Indigenous Firms More Energy Contracts President Bola Tinubu has urged international oil companies (IOCs) operating in Nigeria to give competent indigenous firms greater opportunities in major energy projects. Tinubu made the call while receiving the Founder and Chairman of Lee Engineering Group, Chief Dr Leemon Ikpea, at the State House, Abuja. The President reaffirmed his commitment to unlocking Nigeria’s gas resources to power industries, improve electricity supply, create jobs and boost export earnings. This is contained in a statement issued by the Presidential Spokesperson, Mr Bayo Onanuga, on Thursday in Abuja. Tinubu said his administration’s…

BOI Targets N1.85trn Annual Lending, 3m Jobs by 2027 ​‌‍⁠‌‍⁠⁠‍‌​‍‌⁠⁠‍‌‌​ The Bank of Industry (BOI) says it is targeting N1.85 trillion in annual lending and financing for 24,000 Micro, Small and Medium Enterprises (MSMEs) under its corporate strategy. The Managing Director of BOI, Mr Olasupo Olusi, disclosed this on Thursday during an engagement with media executives in Lagos. He added that the bank also targeted three million jobs between 2025 and 2027 Olusi said the strategy prioritised manufacturing, agriculture, local healthcare, climate-friendly businesses and technology-driven enterprises to strengthen domestic production, expand access to long-term capital and create sustainable employment.…

FG Targets 24-Hour Power Supply to Boost Industry, Economy – Minister The Federal Government says it is targeting 24-hour electricity supply in three energy zones across the country to boost industrial activities and economic growth. The Minister of Power, Mr Joseph Olasunkanmi-Tegbe, spoke on Thursday at the inauguration of the Walambe 2x40MVA, 132/33kV Transmission Substation in Kano. This is one of the four electricity projects inaugurated in the state. The minister said the three energy zones cover the Abuja-Kaduna-Kano, Lagos-Ogun-Benin and Enugu-Port Harcourt axes. “The government is conducting technical audits across the zones to identify infrastructure gaps and determine interventions…

Meta Fined $25bn for Misleading the Public on Facebook Data A New Mexico judge has ordered Meta, the parent company of social media giants Facebook, Instagram and WhatsApp, to pay a 25 billion dollar fine. According to a BBC report, the judge handed out the fine after a two-week trial found that Meta had spent years lying about how it handled Facebook user data. The media report says the fine is the largest ever handed to Meta and follows several other lawsuits settled by the company in 2026, including an 18-billion-dollar deal with California over child safety. “The lies extend beyond…

Dangote Accepts Isbae U’s Invitation to Podcast Show  ​‌‍⁠‌‍⁠⁠‍‌​‍‌​‌‍Nigerian business mogul Aliko Dangote has accepted an invitation from content creator Adebayo Ridwan, popularly known as Isbae U, to feature on his podcast, “Curiosity Made Me Ask”. In a viral online video, Dangote was seen accepting the invitation during a recent interaction with Nigerian creatives at the Dangote Refinery in Lagos. Isbae U had appealed to the businessman to engage younger audiences through digital platforms. He said many of Dangote’s previous interviews were conducted on platforms that younger Nigerians rarely watched, despite their interest in his businesses and investment opportunities. “Most of…

France Reports World’s First Case of Human Infection With Shamonda Virus French health authorities on Thursday announced the world’s first documented case of human infection with the Shamonda virus. The patient died in early October. No health risk to the general population has been identified to date. The Shamonda virus is transmitted to animals by biting midges of the genus Culicoides. First detected in Nigeria in the mid-1960s, the virus has been sporadically reported in cattle in West, East and Southern Africa, as well as in Japan. Despite circulating in Africa and Asia for several decades, no human infection had…

The Nigerian foreign exchange market (NFEM) closed with a US dollar shortage as the naira exchange rate

Nigerian stocks selloffs extended with investors losing about N104 billion…

US, and European markets were buoy by tech and AI led rally despite elevated global oil prices and inflation concerns. The trend appears to be shifting in Asian markets on Thursday.