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 […]
The Central Bank of Nigeria (CBN) has revealed main business activities and sectors in the Nigerian economy that are eligible to access its N75 billion Youth Investment Fund. They are: technology/innovation; agriculture and related value chain; green economy and renewable energy sector; manufacturing, hospitality/tourism; construction and logistics and supply chain. Others are healthcare value chain, […]
President Muhammadu Buhari has accepted the request of an international think-tank group and investment promoter, Horasis Global Visions Community, to create its African hub in Nigeria. President Buhari spoke on Friday at a virtual meeting with the members of the Visions Community led by its founder and chairman, Dr Frank-Jürgen Richter, cross-sectional representatives of State […]
President Muhammadu Buhari says the Nigerian Government will not relent until Dr Ngozi Okonjo-Iweala emerges the next Director-General of the World Trade Organisation (WTO). The President gave the assurance in a tweet on Friday following a video conference with the President of the European Council, Mr Charles Michel. He thanked the council for its support […]
Deteriorating economic conditions and falling family income led to a decline in consumers’ overall confidence index in Q3 2020, according to the Central Bank of Nigeria’s (CBN) latest Consumer Expectations Survey (CES) report. The report posted on the apex bank’s website yesterday, shows that at -21.2 point the consumers’ confidence index in Q3 2020, was […]
