The recent decision by the Federal Government to implement a staggering 240 percent hike in electricity tariffs for consumers enjoying a 20-hour power supply has sparked widespread condemnation from manufacturers and organised labour. The move, announced by the Nigerian Electricity Regulatory Commission (NERC) in Abuja, has drawn sharp criticism from industry stakeholders and labor unions…
12 states in Nigeria are forging ahead with plans to start generating power in their respective states in conformity with the Electricity Act 2023. It has been revealed that Lagos, Kano, and 10 other states have made arrangements to commence power generation within their territories in compliance with the Electricity Act of 2023. A consumers…
Transnational Corporation Plc, Nigeria’s leading listed conglomerate, has achieved substantial growth in its financial indicators, reinforcing its market leadership and strategic positioning. Transcorp announced this in its financial results for the year ended December 31, 2023. The Group in its audited results reported significant year-on-year growth, with revenue rising to N197 billion in the year…
The Economic and Financial Crimes Commission (EFCC) has arrested cross-dresser, Idris Okuneye, popularly known as Bobrisky over currency mutilation and abuse of naira notes. EFCC spokesperson, Dele Oyewale, told Channels Television in a telephone interview on Thursday that the cross-dresser was arrested in Lagos on Wednesday night. The anti-graft agency said, “He (Bobrisky) was arrested…
President Bola Tinubu, on Wednesday, signed the Student Loans (Access to Higher Education) Act (Repeal and Re-Enactment) Bill, 2024, into law. The development follows reviews of the report of the Committee on Tertiary Institutions and TETFund by both the Senate and the House of Representatives. The signing of the bill by the president came after…
The Nigeria Customs Service (NCS) said it collected a total revenue of N1,347,675,608,972.75 in the first quarter of 2024. The collection for the first quarter represents a substantial increase of 122.35 per cent compared to the same period last year, where N606,119,935,146.67 was collected. This was disclosed on Wednesday in Abuja at a press briefing…
The Nigerian Electricity Regulatory Commission (NERC) has approved an increase of 300 per cent electricity tariff for Band A consumers in the country. Accordingly, power distribution companies (DisCos) will be allowed to raise electricity prices to N225 ($0.15) per kilowatt-hour from N68 for urban consumers this month effectively from April 1, 2024 Vice chairman of…
Nigeria Police has opened up on why the Force cannot arrest crossdressers in Nigeria. In an interview on Channels TV on Tuesday, the police spokesperson, Olumuyiwa Adejobi revealed that they cannot be arrested because it is a very tricky situation. He established that cross-dressing is not yet a punishable offence in Nigeria. He also stated…
The 2024 Direct Entry registration exercise has been further extended by another two weeks and would now close on Thursday, April 25, 2024. The 2024 Direct Entry registration, which commenced on Wednesday February 28, 2024, was initially slated to close on Thursday, March 28, 2024, but was extended to Thursday April 11, 2024, to accommodate…
“A record year for ten-figure wealth has left the billionaire class bigger and richer than ever.What a year it’s been for the planet’s billionaires, whose fortunes continue to swell.” Forbes on Tuesday said more billionaires had joined the moneybags club in 2024 despite inflation and political unrest.Aliko Dangote, Mike Adenuga, Abdulsamad Rabiu and Femi Otedola…
