Enugu Electricity Distribution Company (EEDC) has said implementing the Band A customers tariff that was reduced from N209.50/kWh to N160.40/kWh, will cause N1 billion losses monthly. This was contained in a public announcement, Mainpower Electricity Distribution Limited (MEDL) management issued yesterday. “EEDC concluded that implementing it would result in a monthly loss of over N1…
African Export-Import Bank (Afreximbank) has signed a $1.35 billion financing facility in favour of Dangote Industries Limited (DIL). The facility is part of a larger approximately $4 billion syndicated financing arrangement for DIL, Africa’s largest industrial conglomerate. Afreximbank acted as the Mandated Lead Arranger, for the syndication. This financing, described as one of the largest…
Indigenous original equipment manufacturers (OEMs) have raised the alarm over alleged deployment of over deployment of fake SPEEDSTAR Computers by the National Information Development Agency (NITDA) through its contractors, saying that it is economic sabotage on the nation especially on the Federal Government’s Renewed Hope Agenda. The OEMs, acting under the aegis of Certified Computer…
Schneider Electric has marked its 25 years of industrial and social impact in Nigeria, with one of its significant milestone being surpassing its goal of training one million people in energy management, a cornerstone of its commitment to inclusive energy transition and youth empowerment. According to its Q2 2025 extra-financial results released at the weekend,…
With approval from the nation’s telecommunications regulator, and to further ensure a robust conversation around the recent law declaring telecom infrastructure as a Critical National Infrastructure (CNI), positioning it as a national resource to be protected, the planned CNII & Sustainability Conference 2025 discuss has been rescheduled to hold on August 7, 2025 in Lagos….
The Coca-Cola Company has sold Chivita|Hollandia (CHI Ltd.) to UAC of Nigeria Plc. Head of Public Affairs and Communications, Mrs Zainab Obagun, announced this development in a statement in Lagos. NAN reports that Chivita|Hollandia is a leading food and beverage player in Nigeria with portfolios across value-added dairy products, juices, nectars, still drinks and snacks….
The Management of Dangote Cement said it will inaugurate the 3Mta grinding plant in Côte d’Ivoire by the third quarter (Q3) of this year, which is expected to strengthen the company’s position in Africa and contribute significantly to its exports. Chief Executive of Dangote Cement, Arvind Pathak, in a note to the Nigerian Stock Exchange…
BUA Foods Plc has reported a strong financial performance for the half year ended June 30, 2025, posting a significant boost in revenue and profitability, rising by 36 per cent to ₦912.5billion, up from ₦672.3billion reported in the corresponding period of 2024. The growth was driven by a notable increase in sales volume and a…
The Revenue Mobilisation, Allocation and Fiscal Commission (RMAFC) has thrown its weight behind Nigeria’s recent constitutional reform that allows states to generate and distribute electricity. The Commission described the development as a major step towards improved energy access and a strategic gateway for Nigeria to attract global climate finance. Speaking at the First African Conference…
