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Modibbo varsity wins N50m prize at NCDMB’s engineering olympiad
Team Mavericks from Modibbo Adama University, Yola, on Wednesday emerged the overall winners at the grand finale of the maiden Nigerian Engineering Olympiad held over two days in Lagos. The team won the contest with their innovation, “Sarafa Community Security…
TCN declares force majeure as flooding submerges two Lagos substations
Transmission Company of Nigeria (TCN) has declared force majeure on the Oworonshoki 132/33kV and Lekki 330/132kV Transmission Substations following flooding caused by persistent rainfall in Lagos. A statement confirming the development, issued by TCN’s General Manager, Public Affairs, Mrs Ndidi Mbah,…
FG, marketers set for showdown over planned fuel price control regime
Petroleum products marketers have threatened an industry shutdown if the federal government enforces its planned activation of the price control mechanism aimed at driving down the current high prices of the commodity in the country. The declaration followed calls by…
NRC grants 15-yr rail operating license to Lagos transport agency
Nigerian Railway Corporation (NRC) has granted a permanent rail operating license to the Lagos Metropolitan Area Transport Authority (LAMATA) under a long-term Track Access Agreement, a landmark regulatory approval expected to accelerate the expansion of Lagos’ rail network and significantly boost…
PenCom, ICPC recover over N3bn in unremitted pension contributions, as crackdown on defaulters intensifies
National Pension Commission (PenCom) says it has recovered over N3 billion in unremitted pensions contribution,as its crackdown on defaulting employers across the country intensifies. PenCom, in collaboration with the Independent Corrupt Practices and Other Related Offences Commission (ICPC), had commenced…
FG to issue fresh N729bn bond for GenCos settlement, as legacy debt rises to N6.8trn
Nigerian government has disclosed that it is pushing ahead with the second tranche of about N729 billion bond issue to settle part of the power sector’s legacy debt to Electricity Generation Companies (GenCos). The Nigerian Bulk Electricity Trading Plc (NBET) confirmed…
Cooking gas prices drop amid supply surge
Retail prices of the Petroleum Liquefied Gas (LPG) also known as cooking gas have dropped massively from the N2, 300+/kg across the country to as low as N1, 000/kg, as confirmed by the Nigerian Association of Liquefied Petroleum Gas Marketers…
FEC approves $2.96bn, €200m, N215bn financing for transport, agric, power, MSMEs sectors
Federal Executive Council (FEC), Monday, approved a series of financing arrangements worth about $2.96 billion, €200 million and N215 billion to boost transportation, agriculture, power, infrastructure and micro, small and medium enterprises (MSMEs). Disclosing after the FEC meeting in Abuja,…
FG may clamp down on petrol marketers over continued high pump prices
Federal Government has expressed displeasure with Premium Motor Spirit (PMS) or petrol marketers over the continued high pump price of the product despite the easing of global tensions in the Middle East which triggered the rise in the first place. The…
Petroleum products’ pump prices continue rise nationwide in May, as diesel records 86% increase — NBS
Latest Price Watch data released by the National Bureau of Statistics (NBS) has shown that May pump prices of the three major petroleum products continued to rise compared to same period last year. The NBS data disclosed that diesel recorded the…
