Power sector loses N59.33bn despite 5,802MW peak generation

Between January 1 and March 6, 2021 Nigeria’s power sector lost N59.33bn but posted its highest ever peak generation of 5,802 megawatts during the period. Documents obtained from the Federal…

We spent N966bn on pipeline repairs, NNPC replies AuGF

The Nigerian National Petroleum Corporation has explained that it spent N966bn to repair pipelines between 2010 and 2015. NNPC stated this in response to the query raised in the 2016…

FG, firm sign MoU for oil palm development

The Federal Government has signed a memorandum of understanding with Solidaridad West Africa for the development of Nigeria’s oil palm sector. In November 2020, it was reported that officials from…

Naira slumps, exchanges for 480/$ at parallel market

The naira suffered more setbacks as it exchanged to the dollars at 480/$ at the parallel market on Friday. In mid February, it had exchanged at 473/$ at the parallel…

Food blockade to South-West taught us to redevelop capacity to feed our people — farmers

 For almost two decades and still counting, Thomson Asaya has established himself as a hard-working and successful farmer, growing rice, maize and yams on hectares of land at Ofada –…

Nigerian stock market extends loss by 0.40%

The nation’s bourse extended a negative trend for the third consecutive trading session following sell pressure on Nigerian Breweries, Dangote Sugar Refinery, and tier-1 banks. The All-Share Index on Thursday…

US companies plan $2.37bn investments in Nigeria

United States companies in Nigeria plan to invest over $2.37bn in Nigeria in the next three years, according to a new report. The 2020 Nigeria Economic Impact Survey, which was…

Oil soars above $ 67, Nigeria earns additional N318bn/month

Nigeria may have earned over N318bn additionally in February as a result of the increase in crude oil price in the past one month. At the virtual presentation of the…

Gridlock persists as trucks return to Apapa roads

Sanity is yet to return to the Apapa corridor, as fuel tankers and containerised vehicles have resumed indiscriminate parking along the road. This is coming barely four days after the…

We are totally confronting water challenge in Enugu, says SPA

…Reassures residents on adequate potable water supply soon The Special Adviser (SPA) to the Governor of Enugu State, on Water Resources, Hon. Anthony Dubem Onyia, has reassured residents of the…