News & Reports Technology

Reps Approve Pay-Per-View, Price Reduction for Cable Satellite Operators

The House of Representatives has adopted pay-as-you-go and a price slash for DSTV and other cable satellite operators in the country. The House considered and approved recommendations of the Ad–hoc Committee on Non–Implementation of Pay–As–You–Go and sudden Increment of Tariffs plan by Broadcast Digital Satellite Service Providers. The Chairman of the Committee and member representing …read more →

Economy ENERGY News & Reports Trade and Investments

PIB Will Unlock Opportunities for Indigenous Companies – Oando Energy Boss

The Chief Operating Officer, Oando Energy Resources, ALEX Irune, has said that the passage of the Petroleum Industry Bill (PIB) will unlock several partnership opportunities for indigenous oil and gas companies. Irune made the assertion during a panel session at the ongoing Nigeria Oil and Gas (NOG) conference and exhibition on Wednesday in Abuja. The …read more →

Infrastructure News & Reports Power

Consumers Get 98,000 Free Meters from Ikeja Electric

Ikeja Electric Plc says it has installed prepaid meters in the premises of 98,000 customers under the National Mass Metering Programme (NMMP) of the Federal Government. Head, Corporate Communications, Ikeja Electric made the declaration when he spoke with journalists on Wednesday in Ikeja. He said that the figure showed that the company had covered more …read more →

Economy Infrastructure Financing News & Reports Trade and Investments

Russian Companies to Invest $500 Million Into Nigeria’s Manufacturing Sector

The Chairman, Nigerians in Diaspora Organisation (NIDO), Russia, Sampson Uwem-Edimo has said that nine Russian companies have indicated interest to invest over $500 million in Nigeria’s manufacturing sector. Uwem-Edimo made this known in a statement on Sunday in Lagos, ahead of the forthcoming Russia- Nigeria Business Conference. He said the planned investment was to deepen …read more →

Economy ENERGY News & Reports Trade and Investments

Dangote Refinery Will Transform Downstream Sector, Provide Better Margin for Marketers – Oil Marketers

The Major Oil Marketers Association of Nigeria (MOMAN) has expressed optimism that when the 650,000 Dangote Refinery comes on stream, it will change the way business is carried out in the downstream petroleum sector and deliver much value for operators in the industry. Chairman MOMAN, Adetunji Oyebanji said the group hope that Dangote refinery would …read more →

AFRICAReports Infrastructure Infrastructure Financing News & Reports Railway Transportation

Nigeria To Borrow from Credit Suisse, Standard Chartered to Fund Next Stage of Railway Projects

Nigeria is negotiating a raft of loans from Chinese and European lenders to fund railway projects in the country, transportation minister Rotimi Amaechi said. Amaechi said Standard Chartered had agreed to fund $3.02 billion for the ongoing Port Harcourt-to-Maiduguri railway project. He had previously told Bloomberg that the government was in talks with Standard Chartered …read more →

Economy News & Reports Telecom

NCC Rakes in N150 Billion from Spectrum License In 5 Months

The Nigerian Communications Commission (NCC) on Sunday said it more than tripled its projected revenue from spectrum license fees for 2021 in the first five months of the year, posting over N150 billion in income in the period. In a statement issued by its Director of Public Affairs, Ikechukwu Adinde, the commission had projected to …read more →

Agriculture Banking and Finance News & Reports Trade and Investments

NIRSAL Boosts Cocoa Exports with Credit Guarantee

The Nigeria Incentive-Based Risk Sharing System for Agriculture Lending Plc (NIRSAL) is committed to enabling Nigerian cocoa farmers to benefit from the $67 billion global cocoa market, according to its chief executive officer, Aliyu Abdulhameed. While on a tour of ADT Russet Limited, in Apapa, Lagos State, which is a beneficiary of N1.5 billion facility …read more →

Economy News & Reports Technology

OECD Sees $150 Billion Growth in Global Tax Revenues from Tech Firms, Multinationals

Most of the countries negotiating a global overhaul of cross-border taxation of multinationals have backed plans for new rules on where companies are taxed and a tax rate of at least 15 percent, they said on after two days of talks. The Paris-based Organisation for Economic Cooperation and Development (OECD), which hosted the talks, said …read more →

ENERGY Infrastructure News & Reports

PIB: Local Refineries to Pay for Crude Oil in Naira

With the passage of the much-awaited Petroleum Industry Bill (PIB) by both chambers of the National Assembly last week, local refineries would be able to purchase Nigerian crude in Naira. All private refining plants will have access to local crude oil by paying naira instead of foreign exchange as before. Dangote refinery is nearing completion and …read more →