The World Trade Organisation has postponed a meeting where members are expected to pick a new Director-General after the United States blocked the favoured candidate, Ngozi Okonjo-Iweala. The WTO earlier announced that the meeting would hold next week. But a communication seen by AFP showed that the meeting has been postponed indefinitely. “It has come […]
Lending by banks to consumers fell cumulatively by 11 percent or N100 billion to N1.4 trillion over two months – July and August 2020 – driven by pressure to curtail rising bad loans. Bankers said the development was prompted by the impact of the COVID-19 pandemic as well as rise in bad loans in the […]
The Federal Government on Wednesday said it was willing to resume oil exploration in the Lake Chad Basin . The exercise was suspended by the government in July 2017 after suspected members of Boko Haram attacked a team of geological engineers from the University of Maiduguri who were engaged by Nigeria National Petroleum Corporation to […]
As the Federal Government has promised to distribute over six million electricity meters free to Nigerians, President Muhammad Buhari has assured that his administration will end the estimated billing regime in electricity supply in the country. The President gave the assurance Wednesday evening in a thread of tweets on his verified Twitter handle, @MBuhari, saying […]
After initial delays, the federal government and promoters of the Qua Iboe Power Plant (QIPP), a private generating company, have commenced negotiations over a power purchase agreement (PPA) for the 540MW project in Ibeno, Akwa Ibom state, TheCable reports. The agreement, if signed, will see the government commit to about $30 million monthly take-or-pay obligation […]
The Port Harcourt Electricity Distribution Company (PHED) on Tuesday commenced the implementation of the new electricity tariff regime earlier suspended by the Federal Government. The Federal Government had suspended the initial take-off of the new tariff following the outcry that greeted its earlier launch on Sept. 1. Mrs Chioma Aninwe, an official in the Corporate […]
The World Trade Organisation’ s effort to select a new director- general next week could be delayed for at least another month because of the rapid spread of COVID – 19 in Switzerland, according to Bloomberg News . On Sunday , Geneva’ s cantonal authorities announced strict new lockdown measures amid a surge in infections […]
The Nigerian Communications Commission (NCC) Monday said it has granted approval for two mobile network operators (MNOs), MTN Nigeria and 9Mobile, to carry out trial on the workability of embedded Subscriber Identification Modules (e-SIM) Service in Nigeria. The regulatory body added that the trial would run for a period of one year, noting that it […]
The electricity distribution companies (DisCos) in the country have begun the implementation of the new electricity tariff. The DisCos began implementation of a new service-based reflective tariff (SRT) structure nationwide on September 1 after receiving approval from President Muhammadu Buhari. However, the Nigeria Labour Congress (NLC) and the Trade Union Congress (TUC) protested the new […]
Oil prices slumped more than 4% on Monday to the lowest levels since May on worries about the effect of lockdowns across Europe and the turbulence expected to follow U.S. Presidential election after voting on Tuesday. Brent crude for January was at $36.32 a barrel, down $1.62, or 4.3%, by 0018 GMT, while U.S. West […]
