The Minister of State for Industry, Sen. John Uwan-Enoh, has said the politicisation of the cocoa industry has led to the under-development of the sector. Uwan-Enoh said in an interview with newsmen in Calabar on Monday, that the cocoa industry had remained under-developed despite the abundance of the cash crop. Talking about the case of…
In December 2024, Nigeria met the crude oil production quota of the Organization of Petroleum Exporting Countries (OPEC) by 98.97 per. The cartel’s average daily quota for the month under review was 1.5million barrels per (mb/d) of crude oil. However, the country’s output was 1.48mb/d of crude oil, 49,276bpd of blended condensed, and 133,699 unblended…
Telecom operators may have received the approval of the Nigerian Communications Commission (NCC) to disconnect some money deposit banks (DMBs) over their failure to comply with regulators’ directive to effect repayment of the N250billion that arose from the use of the Unstructured Supplementary Service Data (USSD), it was gathered on Monday. According to industry sources,…
The Federal Government has started the implementation of the 20 per cent increment in pensioners monthly take-home under the Defined Benefit Scheme (DBS), according to retirees’ welfare group, Nigeria Union of Pensioners (NUP). The union hailed President Bola Tinubu for the increment and the introduction of a minimum pension of ₦32,000 for retirees. The 20…
Boeing International Corporation says it is ready to assist airlines in Nigeria in accessing adequate aircraft insurance coverage through partnership with buoyant lessors and global financiers. Boeing Sales Director, Africa Region Commercial Airlines, Mr Moore Ibekwe, disclosed this in Dublin, Ireland during the start off meeting of the “Boeing Lessor Forum “scheduled to hold from…
Over 100 lucky customers of the United Bank for Africa (UBA) Plc have shared over N41.8 million in prizes during the lender’s just concluded UBA Legacy Promo series. The promo which began last year, was specially designed by the bank to celebrate UBA’s rich legacy spanning over 75 years, as well as its long-standing commitment…
Aba Power offers the lowest electricity tariff among Nigeria’s 12 electricity distribution companies (DisCos) despite the recent 50 per cent tariff increase approved by the Nigerian Electricity Regulatory Commission (NERC), effective January 1, 2025. This was confirmed in a statement by the South-Eastern Zone of the Electricity Consumers Association of Nigeria (ECAN) following its New…
Nigeria’s Minister of Finance and Coordinating Minister of the Economy, Mr. Wale Edun, has stressed the need for bold reforms and smarter investments to ensure sustainable development across member nations. #He urged the Islamic Development Bank (IsDB) to rethink its development financing approach to address current global economic realities. Edun spoke at the IsDB Governors’…
Nigeria stands out globally for its affordable mobile data costs, offering cost-effective connectivity services to data users nationwide. With an average data cost of $0.38 for a gigabyte, mobile data in Nigeria is one of the cheapest in the world and one of the lowest in Africa. This position was affirmed by the International Telecommunications…
