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Billionaire businessman Adedeji Adeleke, father of singer Davido, has stated that he generates 15% of Nigeria's electricity. Speaking at the Seventh-Day Adventist Church's General Conference on October 15th, Adeleke revealed his involvement in the power sector, noting that he owns power plants and is building the country's largest thermal power plant, set to launch in January 2025. Davido previously mentioned that his family plays a key role in distributing electricity […]

The Former Kaduna Central Senator, Shehu Sani, on Wednesday has accused the World Bank of contributing to Nigeria’s ongoing economic hardship. He claimed the organization aims for these challenges to persist for another 15 years before any relief is seen. On his X ,Sani’s statement comes as the World Bank recently reported that the Nigerian Naira is one of the worst-performing currencies in sub-Saharan Africa, alongside the Ethiopian Birr and […]

The South East Business and Investment Summit Group (SEBIS) on Wednesday has highlighted key challenges affecting investment in the South East, such as limited government support, restricted access to finance, high interest rates, and lack of business structures. Ahead of the December 2024 summit, SEBIS Executive Secretary, Ifedi Okwenna, emphasized that insecurity and an unfavorable business environment have discouraged investors, causing the region to fall behind economically. The upcoming summit […]

Apex Igbo socio-cultural Organization , Ohanaeze Ndigbo has strongly condemned the Igbo Progressive Movement's push to back former Imo State Governor, Ikedi Ohakim, for the next President-General of the organization. With less than 90 days until the scheduled election, Ohanaeze urged Chief Ohakim to reject the offer, calling it detrimental and an obstacle to allowing Rivers State to produce the next President-General. On Wednesday, the group emphasized that the leadership […]

The Abia State Government has announced the commencement of disbursement of interest-free loans to 302 youths trained in agricultural ventures within the state. The Commissioner for Information and Culture, Okey Kanu made the announcement during a press briefing regarding the outcomes of the State Executive Council meeting at the Government House in Umuahia. The commissioner stated that the beneficiaries of the loans were sponsored for the training program as part […]

The Federal Government has announced plans to invest $2 billion in a project to deploy 90,000 kilometers of fiber optic cable across Nigeria. Minister of Communications, Innovation, and Digital Economy, Bosun Tijani, made the announcement on Monday during a facility tour of the vandalized Digital Innovation Park in Kano. This initiative aims to expand the country's fiber optic capacity from 35,000 kilometers to 125,000 kilometers, enhancing the terrestrial fiber optic […]

The Federal Government has been urged to continue its ongoing reforms despite the hardships faced by Nigerians. Indermit Gill, Vice President and Chief Economist of the World Bank, made this call in Abuja, commending the Central Bank of Nigeria for its efforts in unifying exchange rates. Gill acknowledged that the current administration's reforms have resulted in significant challenges for many, particularly the vulnerable poor. However, he emphasized that these reforms […]

The removal of fuel subsidies in Nigeria has significantly curtailed the cross-border smuggling of Premium Motor Spirit (PMS), according to the Group Chief Executive Officer of the Nigerian National Petroleum Company Limited (NNPCL), Mele Kyari. Speaking during an interview with journalists on Sunday, Kyari explained that the subsidy regime had created a wide price disparity between Nigeria and its neighboring countries, which made smuggling a highly lucrative activity. Kyari further […]