Economy

Electricity Tariff: Nigerians blast Minister of Power, Adelabu for making insensitive comment

Nigerians have taken to the social media platforms to lambast the Minister of Power, Adebayo Adelabu for blaming them for the epileptic power supply in the country. Some of them called for his resignation while others advised him not to think of aspiring for any elective position either in Oyo State or Nigeria. According to Pastor Who with the X…

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FG urges mining companies to emulate international best practices

The Federal Government has advised mining companies to emulate the international best practices of the Segilola gold project to develop the sector. The Minister of Solid Minerals Development, Mr Dele Alake offered the advice during a site tour of the Segilola Resources Operating Limited (SROL), an indigenous gold mining company in Ilesha, Osun State, Alake expressed the commitment of the…

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Electricity Tariff: DisCos dares NERC, returns 620 areas to Band A

Thousands of electricity consumers in about 620 feeder coverage areas across the country downgraded to Band B are set to return to Band A, moving their tariff upwards from N68 per kilowatt hour to N225/kWh. The Nigerian Electricity Regulation Commission (NERC) on Tuesday announced a new tariff for the Band A customers increasing the rate by about 230 per cent.…

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Ex-federal lawmakers fault Electricity tariff hike

Two former federal lawmakers, Senator Andrew Uchendu and Hon. Dachung Bagos, have faulted the Federal Government’s reduction of electricity subsidy. They argued that the timing was wrong. The Nigerian Electricity Regulatory Commission (NERC) had on Wednesday, announced an increment in electricity tariff for Band A customers. It explained that these are people who enjoy a 20-hour supply of electricity daily.…

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Electricity Tariff: IKEDC lists Band A areas

By Adeola Ogunrinde The Ikeja Electricity Distribution Company has released the list of the areas within its coverage that are affected by the new electricity tariff. This is coming as the Nigerian Electricity Regulatory Commission (NERC) announced on Wednesday that electricity consumers under the Band A classification will now pay N225 for a kilowatt per hour (KW/h) instead of the…

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BREAKING: Binance Executive appears in Court over alleged money laundering

The head of financial crime compliance at Binance, Tigran Gambaryan, has arrived the Federal High Court in Abuja for arraignment over allegations of money laundering. On February 28, Gambaryan and Nadeem Anjarwalla, Binance’s regional managers for Africa, were detained by the Nigerian government. https://www.westernpost.ng/wp-content/uploads/2024/04/thecableng_270p_20240404_104530.mp4 Anjarwalla, however, escaped from detention after he was led to a nearby mosque for prayers.

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Why we increased electricity tariff- NERC

The vice president of the Nigeria Electricity Regulatory Commission (NERC), Musiliu Oseni, has explained the reasons behind the increase in electricity tariff for Band A customers. The increase, which was announced by NERC earlier on Wednesday, will see customers pay ₦225 kilowatts per hour, up from the current ₦66. Oseni while explaining this on Wednesday said that the Commission is…

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Customs generates N1.3trn in Q1 2024

The Nigeria Customs Service (NCS) has generated N1.3 trillion in the first quarter of 2024. Speaking during a press briefing on Wednesday, the Comptroller General of Customs, Adewale Adeniyi, explained that over 572 seizures were made with a duty-paid value of N10bn. He said, “In the first quarter of 2024, the NCS demonstrated remarkable performance in revenue collection. Total revenue…

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Naira will rise once Dangote refinery starts- Omokri

By Innocent Raphael Social media activist, Reno Omokri, has encouraged Nigerians to exchange their dollars for naira. Omokri stated this in a post on his X handle, asserting that he believes once the Dangote refinery becomes operational, the naira will strengthen against the US dollar. Omokri also suggested that with the refinery in operation, Nigeria may halt fuel imports. He…

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FG introduces measures to combat crude oil theft

By Innocent Raphael The Federal Government is set to introduce trucks and barges as alternative means to transport crude oil, aiming to curb the rampant cases of pipeline vandalism. This is according to a document recently released by the Nigerian Upstream Petroleum Regulatory Commission (NUPRC). Outlined in the document titled “Stability in the Nigerian Energy Sector: Integrated Strategies for Infrastructure,…

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