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FG draws fresh $1.25bn World Bank loan to finance job creation programme
World Bank has granted approval to a fresh $1.25 billion loan request by the Federal Government under its Nigeria Actions for Investment and Jobs Acceleration programme. The approval was confirmed in a statement made by the World Bank on Wednesday, along…
SMEDAN secures $12bn S/Korea commitment to establish skills acquisition facility
Small and Medium Enterprises Development Agency of Nigeria (SMEDAN) has secured a $12 billion commitment from South Korea to establish a Skills Acquisition Centre in Abuja, as part of efforts to strengthen entrepreneurship and boost small businesses across Nigeria. This is…
Diezani: When spirited woman is caught in the web of power
Sopuruchi Onwuka The acquittal of former Petroleum Minister Diezani Alison-Madueke by a London jury after more than a decade of investigations and legal battles has reopened a larger conversation about one of the most consequential and controversial figures in the…
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…
