Business

Greenville LNG Wins Nigeria Domestic Gas Distributing Company Award

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Nigeria’s pioneer and leading organised private sector Gas Infrastructure development, production and distribution company, Greenville LNG has been announced the winner of Nigeria’s “Most Reliable Domestic Gas Distributing Company of the Year” Award. Greenville LNG won the highly coveted award at the keenly vetted, robustly competitive and worthily anticipated annual transportation awards ceremony of the … Read more

FG secures investment commitments of over $30bn across different sectors – Minister

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The Federal Government has secured investment commitments of more than 30 billion dollars across different sectors of the economy. Dr Doris Anite, the Minister, Industry, Trade, and Investment (FMITI), said this during her presentation at the Ministerial Sectoral News Conference to mark President Bola Tinubu’s first year in office on Tuesday in Abuja. The News … Read more

NNPC Ltd. Schlumberger sign agreement to boost upstream operations

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The Nigerian National Petroleum Company (NNPC), Energy Services Limited (EnServ) and Schlumberger (SLB), a renowned global technology company, have signed a technical partnership agreement toward bolstering upstream operations. The agreement was signed at the NNPC Ltd’s Corporate Headquarters in Abuja on Thursday, with senior management teams from both companies in attendance. Speaking shortly after the … Read more

Alleged tax evasion: Arraignment of Binance, Gambaryan suffers setback

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The arraignment of Binance Holdings Limited and its executive, Tigran Gambaryan, by Federal Inland Revenue Service (FIRS), on Wednesday, suffered a setback at a Federal High Court, Abuja. The matter, which was scheduled for arraignment before Justice Emeka Nwite, could not proceed due to the absence of Gambaryan in court. The News Agency of Nigeria … Read more

Oyo Assembly grants Makinde’s request to secure N10bn loan

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Oyo State House of Assembly has approved the request of Gov.Seyi Makinde to access a N10 billion loan to provide counterpart funding for World Bank Assisted Projects/UBEC-SUBEB matching grant. The News Agency of Nigeria (NAN) reports that the approval was sequel to a letter of request sent to the Assembly by Makinde. The letter, read … Read more

OPay, Moniepoint, others to resume onboarding new customers ‘in months’ – CBN

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The Central Bank of Nigeria (CBN) says mobile money operators including fintech firms like OPay, Palmpay, Kuda Bank, and Moniepoint will resume the enrolment of new customers “in another couple of months”. CBN Governor, Olayemi Cardoso, stated this on Tuesday at the 295th Monetary Policy Committee (MPC) of the apex bank in Abuja when the … Read more

Transcorp Power Plc reports strong results post listing: N142 bn revenue, N52.8bn PBT, declares N23.46bn dividend

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Transcorp Power Plc, a subsidiary of Transnational Corporation Plc (Transcorp Group), has announced impressive financial performance at its recently concluded 11th Annual General Meeting (AGM), the first since the Company went public, via a listing by introduction of its shares, on March 04, 2024. According to a statement made available to FRONTVIEWAFRICA on Monday, the … Read more

UBA 75th Anniversary: GMD praises Elumelu’s visionary leadership

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United Bank of Africa (UBA) Group Managing Director, Mr Oliver Alawuba, on Monday commended the role played by the bank’s Group Chairman, Mr Tony Elumelu, in shaping UBA’s trajectory. Alawuba gave the commendation at a world press conference in commemoration of the bank’s 75th Anniversary on on Monday in Lagos. The event also showcased the … Read more

North-East Governors slam TCN over persistent blackout in region

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The North-East Governors’ Forum (NEGF) has berated the Transmission Company of Nigeria (TCN) over its nonchalance in tackling head-on, the recent persistent blackout being experienced in the subregion. The governors said they’re keenly watching to see how committed the TCN is in restoring power supply to the region within the next 10 days. This was … Read more

Nigeria is ready for business – Shettima

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Vice-President Kashim Shettima, on Friday in Abuja declared that Nigeria was ready for the future and business. Shettima made the declaration at the high-level dialogue on advancing the Renewed Hope Agenda, held at the Transcorp Hilton, in Abuja. The News Agency of Nigeria (NAN) reports that the theme of the dialogue is: “Leavraging International Cooperation … Read more

Tinubu assures Chinese executives safety of investments

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President Bola Tinubu has said Nigeria is a safe hub for investments and that his administration would provide the needed support to ensure that businesses thrive in the country. Tinubu gave the assurance when he received a delegation led by the Chairman of the China Railway Construction Corporation (CRCC), Mr Dai Hegen, at the State … Read more

SERAP, BudgIT, 136 Nigerians sue CBN over cybersecurity levy

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SERAP, BudgIT, 136 Nigerians sue CBN over cybersecurity levy The Socio-Economic Rights and Accountability Project (SERAP), BudgIT and 136 concerned Nigerians have filed a lawsuit against the Central Bank of Nigeria (CBN) “over its failure to withdraw the patently unlawful ‘Circular’ directing all banks and other financial institutions to deduct from customers’ account a ‘cybersecurity … Read more

TCN: Our contractors working tirelessly to restore power to North-East

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The Transmission Company of Nigeria (TCN), has said its contractors are working tirelessly to erect four new transmission towers along the Jos-Gombe axis. The company said this is to enable it restore power supply to states in the North Eastern part of the country, TCN’S General Manager, Public Affairs, Mrs Ndidi Mbah, stated this in … Read more

Solar panels, EV battery to be manufactured in Nigeria

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President Bola Tinubu has said his administration is set to make Nigeria the solar panel and Electric Vehicles battery manufacturing hub in Africa. Tinubu also commended the inauguration of Nigeria’s largest Lithium processing plant in Lafia, Nasarawa State, adding that its an indication of the foreign investment friendly environment. He stated this on Friday in … Read more

NNPC/First E&P JV empowers NGOs with N53.4m

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The Nigerian National Petroleum Company Limited (NNPC Ltd) and First Exploration & Production Limited (First E&P) joint venture (JV) has donated the sum of N53million to non-governmental organizations (NGOs) in Nigeria.A statement from the NNPC at the weekend, explained that the donation of the N53m was part of its Corporate Social Responsibility (CSR) initiatives.Under the … Read more

Still on the beer matter , By ANDREW AGBESE

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In my earlier piece on the plan by the Benue State Government to set up a brewery, I concentrated mainly on the factors that threaten the successful running of government owned enterprises to make the point that it is ill-advised.This gave the impression that it is a well thought out idea which can be tackled … Read more

New Benue brewed beer to flood market December – BIPC, MD

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The Managing Director, Benue Investment and Property Company, (BIPC) Dr. Raymond Asemakaha has said that a new brand of beer that would be brewed by the company would hit the market first week of December this year. Dr. Asemakaha, who disclosed this on Tuesday while speaking with journalists in Makurdi, after inspecting work at the … Read more

Binance accuses Nigerian officials of demanding $150m bribe

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Global cryptocurrency platform, Binance has accused top Nigerian government officials of demanding a $150 million bribe in crypto to settle criminal charges filed against the company. The allegation was made public by Binance Chief Executive Officer, Richard Teng, in a blog post published by the New York Times on Tuesday. According to the report, Tigran … Read more

2024 oil bid round not meant for politicians – Minister

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The Minister of State for Petroleum Resources (Oil), Mr Heineken Lokpobiri, has said the 17 oil blocs put forward for sale under the 2024 bidding round are not for politicians, but investors with financial capacity and technical competence. Lokpobiri disclosed this during a conference organised by the Petroleum Technology Association of Nigeria (PETAN), at the … Read more

Apapa Customs Command generates N672.1bn in 4 months

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The Apapa Command of the Nigeria Customs Service (NCS) generated N672.1 billion between January and April this year. The outgoing Area Controller, Babajide Jaiyeoba, said this during his handing over and retirement from service in Lagos on Monday. He said that the command generated a record-breaking revenue of N182 billion in April alone, the highest … Read more

IBEDC reviews tariff from N225/Kwh to N206.80/Kwh for band A customers

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The Ibadan Electricity Distribution Company (IBEDC) has begun the implementation of a downward review of tariff from N225/Kwh to N206.80/Kwh for band A customers in its coverage territory. This review followed the directive by the Nigerian Electricity Regulatory Commission (NERC) to discos to review downwardly tariffs for band A customers only. The News Agency of … Read more

Nigeria plastic solutions initiative will create 10,000 jobs — USAID

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Melissa Jones, Mission Director, U.S. Agency for International Development (USAID), Nigeria has said the newly launched Nigeria Plastic Solutions Initiative will create 10,000 jobs and generate $4.8 million in income. Jones made this known in her remarks at the launch of the Nigeria Plastic Solutions Activity, an initiative equally funded by USAID and the Coca-Cola … Read more

NERC slashes Band ‘A’ electricity tariff to N206.80 /Kwh

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The Nigerian Electricity Regulatory Commission (NERC) has approved a downward review of electricity tariff for Band ‘A’ customers from N225/kWh to N206.80/kwh. Under the approved review, Band ‘A’ customers who were previously charged N225/Kwh are now to pay N206.80/kwh. The band’s customers are those who enjoy a daily supply of a minimum of 20 hours. … Read more

Tinubu assures of more policies for nation’s industrialisation

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President Bola Tinubu has given the assurance that his administration would continue to put in place policies for the industrialisation of the country. A statement by the presidential spokesman Ajuri Ngelale, said Tinubu disclosed this when he received a delegation of the African Association of Automotive Manufacturers and the Nigerian Automotive Manufacturers Association. The President, … Read more

MultiChoice Defies Court Order, Increases DStv, GOtv Subscriptions

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Despite an interim order from the Competition and Consumer Protection Tribunal (CCPT) in Abuja, MultiChoice Nigeria Limited has implemented an increase in the subscription rates for its DStv and GOtv bouquets. Recall that on Monday, the tribunal issued a clear injunction restraining MultiChoice Nigeria from increasing its subscription prices, which were set to take effect … Read more

CBN Bans Moniepoint, Opay, Kuda, Others From Taking New Customers

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Some online microfinance banks in the country have been reportedly barred by the Central Bank of Nigeria (CBN) from opening new accounts and accepting new customers. The microfinance banks include Moniepoint, PalmPay, Opay, PiggyVest, and Kuda, among others. Sources told Peoples Gazette on Monday that the move was over allegations that the banks were being … Read more

Fuel Scarcity: Marketers Threaten to Withdraw Services Over N200bn Debt

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The Independent Petroleum Marketers Association of Nigeria, IPMAN, has issued a threat to the government. IPMAN threatened to cripple the supply of Premium Motor Spirit, PMS, also known as petrol, over non-payment of N200 billion bridging claims. Channels TV reports that the association’s Unit Chairman and spokesperson, Aba Depot, Mazi Oliver Okolo, said the threat … Read more

FG requires $10bn to revive power sector

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The Minister of Power, Mr Adebayo Adelabu, has said the Federal Government requires 10 billion dollars investment yearly, to revive the power sector for the next 10 years. Adelabu said this in Abuja on Monday, at a one day investigative hearing on halting the electricity tariff increase by the Nigerian Electricity Regulatory Commission (NERC) organised … Read more