Minister of Power, Adebayo Adelabu has said that the N225 kilowatt-hour tariff for Band A electricity consumers could decrease if the exchange rate falls below N1,000 to a dollar. Adelabu said this in an interview on Channels Television’s Politics Today, This comes after the Federal Government, through the Nigerian Electricity […]

The Federal Government has clarified that the recent electricity tariff hike only affects a small, wealthy segment of the population. In a statement, Information Minister Mohammed Idris assured that 85% of Nigerians will continue to benefit from electricity subsidies. This clarification comes after the Nigerian Electricity Regulatory Commission (NERC) announced […]

In the realm of economics, the quest for prosperity and the fight against poverty dance together, their steps intricate and intertwined. Yet, in developing economies, this dance often stumbles, with economic growth failing to lead the charge against poverty as expected. Read also: Poverty: 10 African countries with most population living […]

The Ikeja Electricity Distribution Company has announced an addition of 34 new Band A feeders to its network with a view to increasing power supply to customers. This development took place after a monitoring and evaluation of power supply capacity by the Nigerian Electricity Regulatory Commission (NERC). The Disco, in […]

Nigeria’s broadband penetration fell to 42.53 percent as of January, and subscriptions stood at 92.19 million, spotlighting the huge deficit in a country with a population of over 200 million. According to the Nigerian National Broadband Plan 2020-2025, the country hopes to increase broadband penetration to 70 percent by 2025. To achieve 96 percent […]

Big banks have jumped right out of the blocks while the small lenders evaluate their options in a race to meet new capital rules set by the Central Bank of Nigeria (CBN). Zenith, GTCO, FBNH, Access opt for rights issue Zenith Bank Plc last Friday joined Access Bank, FBN Holdings […]

The Federal Government has secured a $750 million loan from the World Bank to provide subsidy to developers and operators of solar mini-grids in the country. The Minister of Finance, Wale Edun, and World Bank’s Country Director for Nigeria, Shubham Chaudhuri, signed the loan agreement on March 31 and February […]

Air Peace is a Nigerian project, and every Nigerian should be proud of their prowess. Our government must do everything to ensure that this national project succeeds. It must not fail, like Arik. And, it must not sail like the Titanic. Air Peace must succeed and go ballistic for the […]

India, which overtook China as the world’s most populous country last year, added 31 new billionaires within a year. This situation offers lessons for Nigeria, Africa’s most populated nation, which saw the number of billionaires in the country increase by one to four on the latest Forbes 2024 World’s Billionaire […]

The foreign exchange (FX) opened on Friday morning after the holidays with the Naira, Nigeria’s currency exchanging with the US dollar at N1,130 at the parallel market. This represents 0.88 percent depreciating over N1,120 per dollar exchanged during the holidays. Traders attribute the fluctuation in exchange rates to the irregularity of trading […]