The Federal Government has announced free passenger train ride for four days on the rehabilitated Port Harcourt to Aba railway. The Permanent Secretary, Ministry of Transport, Oloruntola Oluremi, said the free train ride would be from the 1-4 May. “There will be free train ride between Port-Harcourt and Aba on […]

Yesterday, the National Grid got a massive boost as 624MW was added from Zungeru HPP. This was after a successful reliability test on the units. With this addition, NESI will be better and the national grid shall grow. Let’s continue to prioritize #energyaccountability and #energymanagement as we work towards a […]

The Nigerian Naira closed the month of April in a steep decline, closing at N1,390.96/$1 in the NAFEM, where the exchange rate trades officially. This rate represents a 5.8% depreciation from the month’s opening rate of N1,309.39 and a significant drop from its mid-month high of N1,072.74. The naira rallied […]

The federal government last night approved a pay rise of between 25 and 35 per cent for civil servants across various consolidated salary structures. The announcement was made on the eve of May Day, or Labour Day, which is celebrated worldwide to recognise and honour the achievements and contributions of […]

The Speaker of the House of Representatives, Tajudeen Abbas, has described Nigeria’s Value Added Tax collection as the lowest in the African continent. This was as the Speaker attributed the development to what he referred to as significant inefficiencies in the nation’s tax system. According to the Speaker, the House […]

The Central Bank of Nigeria has barred some microfinance banks, including Moniepoint, Opay and Kuda, from opening new accounts and accepting new customers over allegations that they were being used to funnel cryptocurrency and manipulate the naira’s value, sources familiar told Peoples Gazette on Monday. Sources confided in The Gazette […]

The Minister of Power, Mr Adebayo Adelabu, says the Federal Government requires 10 billion dollars annually in the next ten years to revive the nation’s power sector and end the liquidity challenge. He added that such was not feasible in the country considering the budget size. Adelabu said this in Abuja […]

The Nigerian Electricity Regulatory Commission on Monday released an order on the Deregulation of Meter Prices for meters deployed under the Meter Asset Provider Scheme. It said the prices of meters were deregulated after Meter Asset Providers and other operators requested a further review of meter prices in consideration of […]

The Board of Directors of Seplat Energy has announced the appointment of Mrs Eleanor Adaralegbe as Executive Director effective May 1, 2024. She will also be the Chief Financial Officer effective from May 21, 2024. The board also announced the retirement of Mr. Emeka Onwuka as Executive Director of Seplat Energy effective May 1, 2024. This was […]

The naira depreciated by N79.88 against the dollar at the official foreign exchange market. FMDQ data showed that the naira closed at N1,419.11 per US dollar on Monday, compared to N1,339.23 last Friday. This represents a 5.6 per cent depreciation against the dollar compared to N1339.23 on Friday. Meanwhile, the […]