By Aymide Otitoju A widespread power outage has affected several embassies and residential estates in Abuja, following a technical fault on a feeder supplying the area, the Abuja Electricity Distribution Company (AEDC) confirmed. Among the diplomatic missions impacted are the embassies of the United States, Turkey, Cuba, Ethiopia, Iran, Liberia, Egypt, and Japan, along with…
By Ayomide Otitoju The naira appreciated by 0.16 per cent to ₦1,530.52/$ on Wednesday, up from ₦1,532.93/$ recorded in the previous trading session on the Nigerian Foreign Exchange Market. According to data from the Central Bank of Nigeria (CBN), the local currency traded as high as ₦1,545/$ and as low as ₦1,500/$, marking a decline…
By Ayomide Otitoju Nigerians may face higher fuel prices as the Dangote Petroleum Refinery has temporarily suspended the sale of petroleum products in naira, citing the need to align its revenue with crude oil purchase obligations, which are denominated in U.S. dollars. “This decision is necessary to avoid a mismatch between our sales proceeds and…
By Ayomide Otitoju Nigerian airline Air Peace has announced a ₦600,000 discount on airfares for travelers connecting from various cities across Nigeria to London, alongside an additional piece of luggage at no extra cost. In a statement signed by its Head of Corporate Communications, Dr. Ejike Ndiulo, on Wednesday, the airline said the promotional offer…
By Ayomide Otitoju The Nigerian National Petroleum Company Limited (NNPCL) has debunked reports of an explosion at the Port Harcourt Refining Company (PHRC), clarifying that a minor fire incident occurred but was swiftly contained. In a statement on Wednesday, NNPCL spokesperson Olufemi Soneye reassured Nigerians that the plant remains operational and continues to produce refined…
Global financial markets tumbled on Tuesday as escalating Israeli airstrikes on Gaza heightened geopolitical tensions, triggering a broad selloff on Wall Street and pushing gold prices to record highs. The downturn coincided with a crucial U.S. Federal Reserve meeting, where policymakers convened amid growing economic uncertainty. According to Reuters, the latest Israeli missile strikes have…
By Ayomide Otitoju A growing number of 9mobile subscribers have been unable to switch to other networks in the past month, with industry insiders alleging that the telecom operator is deliberately blocking porting requests at the backend. The issue has raised concerns among industry stakeholders, prompting the National Association of Telecoms Subscribers (NATCOMS) to urge…
By Ayomide Otitoju In a bid to strengthen bonds and celebrate the essence of Ramadan, MAGGI, a brand under Nestlé Nigeria, has launched Tales of Ramadan—a six-week storytelling series that highlights the power of food in fostering friendship, love, and transformation. According to a company statement, the series follows the journey of five women as…
By Ayomide Otitoju Nigerian Breweries Plc (NB) has completed the acquisition of the remaining 20% shareholding in Distell Wines and Spirits Nigeria Limited (DWSN), making it the sole owner of the company. In a disclosure published on the Nigerian Exchange and signed by Company Secretary Uaboi G. Agbebaku, Nigerian Breweries stated that the acquisition followed…
