The Federal Government has outlined $23.2 billion energy investment target, which is expected to raise $15.5 billion from the private sector. It was part of the ambitious energy access programme that will see to the transformation of the nation’s energy sector. The programme which will ensure transformation of the sector is being spear-headed by the…
The Central Bank of Nigeria (CBN) has projected that diaspora remittances are expected to rise to N31.7871 trillion when fourth-quarter (Q4) 2024 figures are released. The substantial increase in diaspora remittances was attributed to the reforms carried out by the CBN especially the foreign exchange (forex) reforms designed to attract more forex into the country….
Telecom sector regulator, the Nigerian Communications Commission (NCC) has blamed its low revenue generation last year to the failure of telecom operators to purchase 5G spectrum licences. Its Chief Executive Officer/Executive Vice Chairman (CEO/EVC), Aminu Maida, and its Director of Financial Services, Yakubu Gontor, disclosed this in Abuja during the 2025 budget defense before the…
The European Union (EU) has launched the Eurocham Nigeria Institutional Development Support, a €300,000 three-year grant aimed at strengthening the secretariat of the European Chamber of Commerce (Eurocham) Nigeria, expanding its advocacy efforts, and enhancing external engagement for its members. The grant, announced during Eurocham’s 25th Annual Stakeholders Conference in Lagos, forms part of the…
Airtel Africa’s total customer base grew by 7.9 per cent to 163.1 million while its data customer penetration continues to rise, with a 13.8 per cent increase in data customers to 71.4 million, according to its results for nine-month period ended 31 December 2024. According to the result, data usage per customer increased by 32.3…
Facebook’s parent company, Meta, has agreed to pay President Donald Trump $25 million to settle a 2021 federal lawsuit alleging First Amendment violations and other claims following the company suspending him from Facebook and Instagram in the wake of the Jan. 6 attack on the Capitol. The payout resolves the suit Trump filed against Facebook…
European Union (EU) Ambassador to Nigeria and the Economic Community of West African States (ECOWAS), Gautier Mignot, has outlined the union’s plans to bolster trade, strengthen investment and positively impact the youthful population of Nigeria. Mignot made the plans known on Wednesday in Lagos at a media luncheon. He said the EU would want to…
The management of Max Air has announced the suspension of its domestic flight operations for 90 days effective midnight January 31, 2025 to pave way for the conduct of safety and economic audit of the carrier by the Nigerian Civil Aviation Authority (NCAA). The airline, via its official X handle @MaxAirLtd, explained that the suspension…
Telecom operators Nigeria have raised the alarm over the review of annual payment structure under the Financial Reporting Council Amendment Act 2023 (FRC Act), warning that its implementation will hurt telecom operators. Acting under the aegis of Association of licensed Telecom Companies of Nigeria (ALTON), the group warned that “the new structure would pose significant…
