Judge Adjourns for Ruling in Mareva Suit between First Bank Nigeria and General Hydrocarbons Limited and Several Others
A Mareva injunction suit involving First Bank Nigeria, General Hydrocarbons Limited, and several others took a new turn on Friday, January 17, 2025, as Dr. Abiodun Layonu SAN moved to set aside the injunction and other punitive ex parte orders…
Global Oil Price Surges as US Imposes Latest Sanctions on Russia
The global oil market witnessed a significant surge on Monday, with Brent crude rising above $81 per barrel, as the latest US sanctions on Russia’s oil industry took effect. This development comes after oil marketers in India and China scrambled…
General Hydrocarbons Limited Denies Owing First Bank of Nigeria $225 Million
In a recent statement, General Hydrocarbons Limited (GHL) has vehemently denied allegations of owing First Bank of Nigeria (FBN) $225 million. The statement, signed by Abdelmuizz Bello, Director of Strategy & Operations at GHL, provides a detailed breakdown of the…
Lagos-Calabar Coastal Highway Project to Cost over Planned Enhanced Security and Aesthetic Features – Minister
There indications that the Lagos-Calabar Coastal Highway project, spanning 750 kilometers, may cost more as the project is set to receive significant upgrades aimed at improving both security and aesthetics. The project was initially to cost N4 billion per kilometre…
Tinubu Invites French Investors to Explore Nigeria’s Growing Economy
President Bola Ahmed Tinubu has extended an invitation to French investors, assuring them that Nigeria is open for business. During a joint briefing with French President Emmanuel Macron at the Elysee Palace, Tinubu emphasized his administration’s commitment to creating a…
TCN Hosts Lagos Delegation, Pledges Support For Electricity Regulatory Responsibility
The Transmission Company of Nigeria (TCN) hosted a delegation from the Lagos State government at its corporate headquarters in Abuja on Tuesday, November 19, 2024. Welcoming the delegation, led by Biodun Ogunleye, Commissioner for Energy and Mineral Resources, TCN’s Managing…
Nigerians Abroad Send $20 Billion Home Annually, NIDOE Invests N25 Million in Humanitarian Projects
Nigerians in Diaspora Organisation Europe (NIDOE) has revealed that Nigerians abroad send over $20 billion to their homeland annually. At a virtual news conference, Chairman Bashir Obasekola announced that NIDOE spent N25 million on humanitarian projects across Nigeria in 2024….
TCN Investigates 330kV Transmission Line Tripping Causing Power Outage in Northern Nigeria
The Transmission Company of Nigeria (TCN) has confirmed that a fault on its 330kV Ugwaji-Apir Double Circuit transmission lines caused a power outage affecting the North East, North West, and parts of North Central. The tripping occurred at approximately 4:53…
Challenges, Opportunities for MSMEs As CBN Raises Interest Rate to 27.25%
In a bold move to curb inflation, the Central Bank of Nigeria (CBN) has again increased its Monetary Policy Rate (MPR) by 50 basis points to 27.25%. The CBN Governor Olayemi Cardoso announced the decision after the 297th Monetary Policy…
Dangote Refinery: How FX Intervention Can Slash Petrol Prices Below N600 Per Liter — Refinery Operators
The Crude Oil Refiners Association of Nigeria (CORAN) has called on the Nigerian government to peg foreign exchange at N1000 per dollar to reduce Dangote Refinery’s petrol price to below N600 per liter. This suggestion comes amid the current petrol…
