Electricity users in Warri and environs have decried the escalating bills the Benin Electricity Distribution Company (BEDC) give them amidst poor power supply. “I occupy a two-bedroom apartment. Sometime last year, I was paying N5,000, some months later it was increased to N8,000 and I complained to the bill distributor. I was surprised to receive…
The Nigerian Electricity Regulatory Commission (NERC) says electricity consumers are not required to pay directly for the meters issued to them. This is contained in a statement issued by NERC on Monday. “We wish to reiterate that the National Mass Metering Programme (NMMP), designed to provide all consumers of electricity with meters, is a policy…
A report by the International Monetary Fund (IMF) expert suggests that demand for deposits in Nigerian commercial banks may reduce due to the introduction of eNaira. In the publication released on Tuesday, Jack Ree, an economist with IMF, highlighted the need to manage potential risks that could spring in the cause of making transactions with…
The Canadian International Conference on Trade, Investment and Development (CICTID), a private sector initiative, has unveiled plans for the CICTID 2022 investment summit in Canada. Mr Wale Adesanya, CICTID Chairman, said in a statement on Monday in Lagos that the programme would take place from June 16 to June 19, 2022 in Toronto, Ontario, Canada….
With a population above 200 million people and access to market across the continent, Nigeria is the most attractive destination for investment in Africa, say the First Bank of Nigeria and the Bank of Industry. The CEOs of First Bank of Nigeria, Adesola Adeduntan and Bank of Industry, Olukayode Pitan, stated this respectively at a…
Crude oil theft is a huge threat to actualising the objectives of the Petroleum Industry Act (PIA), experts in the oil and gas sector have said. The experts urged the federal government and security agencies to find a lasting solution to the issue in the interest of national development. The PIA, according to them, is…
Nigeria’s statistics office, said that composite food index rose by 18.34 per cent in October 2021 compared with 17.38 per cent in October 2020. The nation’s headline inflation was also put at 15.99 per cent, marking a second-month consecutive decline, the office said. The data was relayed by Simon Harry, the Statistician-General of the Federation…
Keystone Bank has denied reports that the Minister of Justice and Attorney-General of the Federation, Abubakar Malami (SAN), forced it to convert the $1 at N305. The reports came after the bank met with the House of Representatives’ Ad Hoc Committee onAssessment and Status of all recovered loots on the Federal Government’s $40 million funds,…
Nigeria has lost its Africa’s top oil producer status to Libya as its crude oil production fell further last month amid lingering supply disruptions, according to a new report by the Organization of the Petroleum Exporting Countries. Nigeria told OPEC that its oil output fell to about 1.23 million barrels per day in October from…
