The federal government is reported to have disbursed N169.4 billion in August to maintain the pump price at N620 per litre, effectively resurrecting the fuel subsidy. According to documents from the Federal Account Allocation Committee (FAAC), examined on September 20 by DailyTrust, the Nigerian Liquefied Natural Gas (NLNG) transferred $275 million in dividends to Nigeria…
The Independent Petroleum Marketers Association of Nigeria (IPMAN) has moved to quell concerns by assuring Nigerians that there are no plans to raise the petrol pump price to N700 per litre. IPMAN urges the public not to engage in panic buying or hoarding of petroleum products. In response to circulating rumors, IPMAN emphasizes that there…
IBEDC, the Ibadan Electricity Distribution Company, has confirmed that the Nigerian Electricity Regulatory Commission (NERC) is yet to issue a directive on the proposed new electricity tariff, which was originally scheduled to take effect on July 1. The announcement of the new tariff has faced strong opposition from various stakeholders, who argue that the timing…
AfDB Approves $115 Million Loan to Abia for Road Rehabilitation and Erosion Control The Board of Directors of the African Development Bank (AfDB) has granted approval for a loan of $115 million to support a significant road rehabilitation project in Abia State, Nigeria. In an announcement made by the Nigeria Country Department of the bank,…
The Central Bank of Nigeria (CBN) and the Bill and Melinda Gates Foundation (BMGF) have finalized plans for a collaborative effort focused on financial inclusion. In a recent statement, the CBN announced that strategic discussions were held between the two entities to explore deeper collaboration in enhancing financial inclusion in Nigeria. During the discussions, Folashodun…
The Abuja Electricity Distribution Company (AEDC) has issued a notification to its customers, informing them of an upcoming electricity tariff increase starting from July 1, 2023. The decision to review the tariff is attributed to the fluctuation of the Naira in the exchange rate. According to the statement released on Sunday, June 25, the exchange…
As preparations for the Eid-el-Kabir celebration are underway, Nigerians are expressing widespread dissatisfaction over the soaring prices of rams and basic food commodities in various markets across the country, according to the News Agency of Nigeria (NAN) reports. Market surveys conducted by NAN correspondents in several states, including Ondo, Ekiti, Osun, Edo, Kaduna, Borno, Yobe,…
During the ongoing Hajj pilgrimage in Saudi Arabia, the National Hajj Commission of Nigeria (NAHCON) has reported that six Nigerian pilgrims have tragically passed away, while 30 others have been diagnosed with mental health challenges. Usman Galadima, the Chief of Operations and Head of the Nigerian Medical Team, shared this information during a meeting of…
During an engagement session with customers in Enugu North Senatorial District, Mr. Praveen Chorghade, the Managing Director of Enugu Electricity Distribution Company (EEDC), expressed the company’s desire to provide every customer with a prepaid or postpaid meter to address complaints about estimated billing. He emphasized that having a meter for every customer would ensure accurate…
The President of the Nigeria Labour Congress (NLC) has announced that the organization will introduce a detention allowance for its members who are arrested during protests. This decision aims to demonstrate solidarity and support for fellow workers who are enslaved and mistreated by their employers. The NLC President, Joe Ajaero, made this announcement during a…
