Mele Kyari, the Group Chief Executive Officer (GCEO) of the Nigerian National Petroleum Company (NNPC) Limited, addressed the Senate Joint Committee on Appropriations on December 8. During the session, Kyari emphasized that the primary purpose of establishing refineries is not to decrease fuel prices. The GCEO of NNPCL further expressed confidence that by 2024, Nigeria…
Minister of Communications, Innovations, and Digital Economy, Bosun Tijani, has revealed that the expenditure for laying fiber cables across Nigeria is estimated at $2 billion. During an appearance on a Channels Television program on Tuesday, December 5, Bosun disclosed that while the Fifth-Generation (5G) network is present in Nigeria, the supporting infrastructure is not uniformly…
President Bola Tinubu and German Chancellor Olaf Scholz on Friday evening in Dubai, United Arab Emirates, witnessed the signing of an accelerated performance agreement aimed at expediting the implementation of the Presidential Power Initiative (PPI) to improve electricity supply in Nigeria. The agreement, consummated on the sidelines of the COP28 climate summit, was signed by…
Mr. Yemi Cardoso, the Governor of the Central Bank of Nigeria (CBN), has announced plans to introduce a fresh set of foreign exchange laws and guidelines aimed at addressing the depreciation of the Naira and achieving stability in the exchange rate. Speaking at the 2023 Annual Bankers Dinner of the Chartered Institute of Bankers of…
The burgeoning economic partnership between the Federal Republic of Nigeria and the Federal Republic of Germany witnessed further expansion and strengthening as two important agreements were signed between Nigerian and German businesses on Tuesday. Speaking in Berlin, Germany, at the 10th German-Nigerian Business Forum, President Bola Tinubu said that with a resilient democracy, Nigeria is…
President Bola Tinubu, on Monday, in Berlin, Germany, told international investors that beyond Nigeria’s natural resources, the people of Nigeria, who are highly educated, highly skilled, and naturally industrious are the primary asset and advantage the country wields over other nations in the global race for new investments. The President spoke at a panel discussion…
Bola Tinubu delivered an address to the audience at the G20 Investment Summit and the Compact with Africa Conference in Berlin, Germany. The Nigerian President traveled to Berlin on Saturday, November 18, to participate in the conference, aiming to attract investments in energy and infrastructure while fostering trade, according to his office. Hosted by German…
Sam Altman, the Silicon Valley CEO responsible for the artificial intelligence-driven chatbots ChatGPT and GPT-4, has been ousted by the company’s board of directors, citing a loss of confidence in his leadership. The decision, announced in a statement, comes after an internal investigation revealed inconsistencies in Altman’s communication with the board, impeding its ability to…
The Association of Licensed Telecommunications Operators of Nigeria (ALTON) has suggested the possibility of raising tariffs nationwide. During a stakeholders’ meeting with the Executive Vice Chairman of the Nigerian Communication Commission (NCC), Dr. Aminu Maida, on Thursday, November 16, Mr. Gbenga Adebayo, the Chairman of ALTON, emphasized the need for a price review in response…
The Seme Area Command of the Nigeria Customs Service reported that it facilitated N8 billion worth of export cargoes from September to the present date. Timi Bomordi, the Customs Area Controller for the command, disclosed this information during a press briefing at the Seme command in Lagos. He highlighted that during the specified period, the…
