MainOne has disclosed that seismic activity on the seabed may have caused cable breaks impacting Internet access in Nigeria, Ghana, Senegal, Cote d’Ivoire, and other African countries. In a recent update, the digital infrastructure company, which has been one of the most hit, ruled out human activity as the cause of the cable cut, given…
Governor Babajide Sanwo-Olu of Lagos State has unveiled markets that will offer 25 per cent discounts to residents to cushion economic hardship and rising inflation. Lagos State Government announced this on Saturday in a statement by the Commissioner of Information and Strategy, Gbenga Omotosho. The initiative titled ‘Ounje Eko’ food markets is expected to commence…
A commercial bus driver simply identified as Lukman died when he suddenly slumped on the wheel while conveying some students of the University of Ilọrin to the school campus. The incident, an eyewitness said, happened on Friday. The eyewitness who is one of the passengers narrated in a viral WhatsApp message that when the incident…
President Bola Tinubu on Thursday inaugurated the Red Rail Line in Lagos with a declaration that Nigerians deserve access to efficient multiple modes of transportation. The 37km intra-state rail line is the second rail projects to be inaugurated by the Lagos State Government in less than one year. The first, Lagos Blue Rail Line, was…
The Federal Government has signed a Memorandum of Understanding with Messrs MPH Rail Development Limited, a United Kingdom company for the construction of the Port Harcourt–Enugu–Calabar–Abuja Standard Gauge Rail Line. The project when completed will be operated under a public-private partnership framework. These details are contained in a statement issued by the Federal Ministry of…
The Debt Management Office (DMO) has debunked claims that a company belonging to the Minister of Finance and Coordinating Minister of the Economy, Mr. Wale Edun has secured a Transaction Adviser deal for the next Eurobond. According to the statement by the agency, the report by some media platforms that Mr. Edun’s Chapelhill had been…
Minister of the Federal Capital Territory, Nyesom Wike, has told the Senator representing the FCT, Ireti Kingibe, that he cannot be coerced into becoming her friend Wike lambasted the Senator, accusing her of blackmailing him instead of communicating her problems through the right channels or better still focusing on her oversight functions. The former Rivers…
Nissan and Honda announced Friday that they will work together in developing electric vehicles and auto intelligence technology, sectors where Japanese automakers have fallen behind. The chief executives of Nissan Motor Co. and Honda Motor Co. appeared together at a news conference in Tokyo to announce that Japan’s second and third biggest automakers will look…
Oil prices decline on Friday but were on track to gain nearly 4% for the week, boosted by the International Energy Agency revising its 2024 oil demand forecasts higher and an unexpected decline in U.S. stockpiles. Brent crude oil futures fell 38 cents or 0.4% to $85.04 a barrel at 0751 GMT, after crossing $85…
The Central Bank of Nigeria (CBN) has reiterated its position on how banks utilize their FX revaluation gains referencing a previous circular dated September 11, 2023. The bank stated that FX revaluation gains should serve as a buffer to cushion significant movement in the FX rate and should not be used to pay dividends or…
