Electricity Distribution Companies, DisCos, in the country have accused the Nigerian Electricity Regulatory Commission, NERC, of attempts to distance itself from the July 1 commencement of the new service-based electricity tariff regime. This allegation is contained in a statement released by their umbrella body, the Association of Nigerian Electricity Distributors,[Read More…]
News
PPPRA No Longer Fix Petrol Price
The Petroleum Products Pricing Regulatory Agency (PPPRA) is no longer fixing the pump price of Premium Motor Spirit (PMS) also known as petrol for marketers, the executive secretary, PPPRA, Mr Saidu Abdulkadir disclosed yesterday. Abdulkadir, who stated this in a statement in Abuja, yesterday, however, said the agency would constantly,[Read More…]
Chinese Restaurant Remain Shut- FCCPC
The Federal Competition and Consumer Protection Commission (FCCPC) says the Chinese restaurant known for exclusive and discriminatory service in Lagos remained shut. The FCCPC Director-General, Babatunde Irukera, disclosed this when he appeared on the News Agency of Nigeria (NAN) forum in Abuja. Mr Irukera said if a place was shut[Read More…]
SON Raises Red Alert On Suspected Substandard Toyota Engine Oil
The Standards Organization of Nigeria has raised a red alert on the discovery of suspected substandard Toyota brand of engine oil in the Nigerian markets. A statement from the office of the Director General, Osita Aboloma Esq. disclosed that the suspected substandard Toyota brand of engine oil was discovered through[Read More…]
Nigeria’s smartphone market declines 13.6% in first quarter
The International Data Corporation (IDC) has found that Nigeria’s smartphone shipments declined 13.6 percent, with demand for both types of mobile devices hit by the Covid-19 pandemic. The June report of the IDC also showed that Nigeria’s feature market suffered a 12.5 percent quarters one quarter (QoQ) decline in shipments[Read More…]
DPR Stops Illegal Mobile GAS Distribution
The Department of Petroleum Resources Lagos Zonal office,( Gas Unit) in Collaboration with NSCDC during its surveillance visit arrested a mobile Gas operator with a vehicle laden with 1MT LPG Tank with dispensing unit accessories and weight bridge used in dispensing same products within Isheri road, Berger, Lagos. Due to[Read More…]
Access Bank tells customers it’s time to pay accrued stamp duty charges
Access Bank Plc said it recently discovered a mistake in its operations records, whereby stamp duty charges on applicable transactions were not passed on to customers. The omissions occurred between February 1st, 2020, and April 30th, 2020. The tier-1 bank said it is deeply apologetic for this error. However, all[Read More…]
CBN unveils plans for non-interest facility in ABP, others
The Central Bank of Nigeria (CBN) has unveiled plans to release a framework for integration of non-interest window in all its intervention programmes, particularly the Anchor Borrowers’ Programme (ABP) and the Targeted Credit Facility (TCF) to support households and Micro, Small and Medium Enterprises (MSMEs) affected by the COVID-19 pandemic[Read More…]
Atiku Rises Concern Over FG Raising Debt
Nothing has shocked me in my entire life in public service as the revelation from Nigeria’s First Quarter 2020 financial reports in the Medium Term Expenditure Framework and Fiscal Strategy from the Federal Ministry of Finance, Budget, and National Planning, which shows, alarmingly, that whereas Nigeria spent a total sum[Read More…]
Nigeria exported N32bn worth of electricity in 2019 — NERC
The Republics of Togo, Niger and Benin received a total invoice of N32.04bn for the electricity supplied to them from Nigeria in 2019, data from the Nigerian Electricity Regulatory Commission have shown. Nigeria, through some of its power plants, sell electricity to the neighbouring countries, which are classified as international[Read More…]
Consumer TV
FG Revenue Rises 76% to N12.5tn, Fueled by Tax and Oil Gains — Budget Office
The Federal Government’s earnings have increased by 76 percent, rising from N7.1 trillion in 2022 to N12.5 trillion in 2023, due to higher taxes and oil revenues. This information was revealed in the recently released 2025-2027 Medium Term Expenditure Framework and Fiscal Strategy Paper from the Ministry of Budget and[Read More…]