The Nigerian Electricity Regulatory Commission has confirmed the removal of electricity subsidies by the Federal Government. Addressing a news conference in Abuja, the Chairman of the Commission, Mr Sanusi Garba, said the review was conducted in line with multi-year tariff order that mandates that electricity tariff be reviewed every six months. NERC’s confirmation comes […]
Nigerian Economist and businessman, Tony Elumelu on Thursday lamented over the worsening electricity, hike in prices of diesel, and its effect on businesses in the country. The CEO of Heirs Holdings in a series of tweets said businesses are suffering under the situation with Nigerian citizens groaning under food inflation as well. “How […]
The National Bureau of Statistics, NBS, says the Consumer Price Index, CPI increased by 15.70% year on Year in the month of February. This is 1.63% lower than 17.33% recorded in the previous month. The Statistician General of the Federation, Dr. Simon Harry disclosed this on Tuesday during the monthly press briefing at the […]
President Muhammadu Buhari has approved sanctions for those responsible for the importation of off-spec petrol into the country, TheCable understands. In February, the president had ordered that “producers and providers” of the petrol with methanol quantity above Nigeria’s specification, which was recently imported into the country, must be held accountable. This was after the […]
The Federal Competition Consumer Protection Commission, in collaboration with the Independent Corrupt Practices and other Related Offences Commission, National Information Technology Development Agency, and the Nigerian Police Force, on Friday, raided some illegal financial institutions operating on Opebi Road, Ikeja, Lagos. Among the financial institutions affected were, GoCash, Okash, EasyCredit, Kashkash, Speedy Choice, Easy […]
A Federal High Court in Abuja has issued an order to commence committal proceedings against the Managing Director of the Assets Management Company of Nigeria (AMCON), Ahmed Lawal Kure, over alleged seizure of NICON Insurance Ltd’s assets. Justice Okon Abang, on Friday, also ordered the commencement of committal proceedings against the executive directors of […]
Lagos State Council Chairman of the National Union of Road Transport Workers (NURTW) Alhaji Musiliu Akinsanya (Mc Oluomo) has demanded N1 billion from Tricycle Owners and Operators Association of Nigeria (TOOAN) Zone ‘C’ Chairman Alhaji Azeez Abiola (aka Istijabah) over alleged libel. In a letter written to Abiola by Akinsanya’s lawyer, Adejare Kembi, Abiola […]
Aliko Dangote, chairman of the Dangote Group, says the federal government should stop the export of maize from Nigeria to avoid the scarcity expected to come as a result of the Russia-Ukraine war. Responding to a question by TheCable at the fourth Annual Nigerian Food Processors and Nutrition Leadership Forum on Thursday, Dangote said […]
The federal government has dismissed media reports that Qatar Airways has been chosen as the preferred bidder for Nigeria’s national carrier, ‘Nigeria Air.’ In a statement by James Odaudu, Director, Public Affairs, Federal Ministry of Aviation said: “The report, coming just two days after the issuance of a Request For Proposal which was published […]
The Group Managing Director, GMD, Nigerian National Petroleum Company (NNPC) Limited, Mr. Mele Kyari has given a ray of hope to the lingering scarcity of aviation fuel, saying it will end soon. The came as the Director General, Nigeria Civil Aviation Authority (NCAA), Musa Shuaibu Nuhu said that airline operations might be forced to […]
