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…
Nigeria’s Economic Woes: Bukar Reveals How Inefficient Ports Drive Trade to Neighboring Benin Republic
Nigeria’s struggling economy has been dealt another blow as its inefficient ports continue to drive trade volumes to neighboring Benin Republic. According to Kyari Bukar, former Chairman of the Nigerian Economic Summit Group (NESG), the country’s clumsy bureaucracies and bottlenecks…
Nigerians’ Perception of NNPCL’s Stand on Dangote Refinery Fuel Wrong — Says Chairman, Skymark Energy and Power LTD
… Maintains that Prices Are Determined by International Market Forces The Chairman and Chief Executive Officer (CEO) of Skymark Energy and Power Limited, Muhammad Saleh Hassan, has taken a swipe at critics that are passing flaks on the NNPCL and…
Gridlock: TCN Suspends Abuja Electricity Distribution Company Over Alleged Non-compliance, Sets Disconnection Deadline
In a shocking move, the Transmission Company of Nigeria (TCN) has issued a suspension notice to Abuja Electricity Distribution Company (AEDC) over alleged non-compliance with market rules and failure to provide adequate bank guarantees. The notice, signed by Ali Bukar…
Abuja’s Business Climate Suffers Amidst Rising Security Concerns
Recent findings by an Africa-focused market/security intel gathering and strategic consulting firm, SBM Intelligence, have cast a spotlight on the escalating security issues in Nigeria’s capital, Abuja, and their adverse impact on the city’s commercial activities. The report indicates a…
$184 Million Repatriation Showcases Multichoice’s Strategic Financial Mastery Amidst Economic Headwinds
In an impressive display of financial acumen, Multichoice Group has orchestrated a significant capital movement by repatriating $184 million out of Nigeria within the last financial year, ending March 2024. This strategic transfer is a testament to the company’s robust…
Navigating Troubled Waters: Nigeria’s Economic Hardship Intensifies Under President Tinubu’s Watch
As Nigeria grapples with escalating economic challenges, President Bola Tinubu’s administration finds itself under intense scrutiny. The bold reforms introduced—while aimed at stabilizing and strengthening the economy—have inadvertently led to a period of significant hardship for the Nigerian populace. The…
