Nigeria to Invest $800m in Power Sector The Federal Government says it plans to invest 800 million dollars in the construction of sub-stations and distribution networks as part of the Presidential Power Initiative (PPI). This is contained in a statement issued by Mr Bolaji Tunji, the...

Our Ability to Sustain Fuel Supply Under Threat – NNPCL The ongoing scarcity of petrol, seems far from over as the Nigerian National Petroleum Corporation Limited (NNPCL) has said its ability to sustain fuel supply is under threat. Chief Corporate Communications Officer of the NNPCL, Olufemi...

Why FCCPC Should Not Ask Traders to Crash Prices – CPPE The Centre for the Promotion of Private Enterprise (CPPE) has advised the Federal Competition and Consumer Protection Commission (FCCPC) to avoid controlling the prices of goods. On Thursday, FCCPC gave businesses a one-month ultimatum to...

Power Generation Drops by 1,400MW Efforts by the Federal Government to ramp up power generation seem to be suffering a setback following the refusal of the electricity distribution companies to off-take the power allocated to them. The Minister of Power, Adebayo Adelabu, decried the rejection of...

Nigeria's FX Reserves Fall to $36.32bn According to data released by the Central Bank of Nigeria (CBN), the nation's foreign exchange reserves fell to $36.32bn as of August 29, 2024, according to data released by the Central Bank of Nigeria. This marks a decline from the...

Manufacturing Grows by 1.28% – NBS The manufacturing sector grew by 1.28 per cent year-on-year in the second quarter of the year, according to the Gross Domestic Product report of the National Bureau of Statistics (NBS) released on Monday. The sector grew at a slower pace...