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Lagos-Calabar Highway: American Investors Decry Destruction Of N375bn Investment

Lagos-Calabar highway: American investors decry destruction of N375bn investment
In a dispute over the destruction of their N375 billion real estate investment, a group of American investors has urged President Bola Ahmed Tinubu to step in. The investors, acting through the Association of Nigerians in Diaspora, assert that despite possessing the required certifications and approvals, the $250 million houses in Okun Ajah, Lagos State, were ordered to be demolished by the Minister of Works, Engr. David Nweze Umahi. Engr. Stella Ifeoma Okengwu, Managing Director of Winhomes Global Services Limited, claimed during a global press conference that Umahi’s actions show a pattern of unlawful demolition, power abuse, bribery, corruption, andRead More

Flight simulation holds Saturday, FG gets restart plan Wednesday

Murtala Mohammed International Airport, Lagos
The Federal Government on Monday said it would carry out a simulation trial of domestic flight operations at the Murtala Mohammed Airport in Lagos on Saturday as it prepares toRead More

New Electricity Tariffs To Take Effect In July – Minister Of Power, Sale Mamman

Minister of Power, Sale Mamman
The Minister of Power, Sale Mamman, has said that the proposed electricity tariff increase by the Federal Government will kick off in July. In January, the Nigerian Electricity Regulatory CommissionRead More

Darkness Persists, Generation Falls To 2,943MW, 10 Plants Idle

Electricity power plants
Darkness persisted across several parts of the country on Sunday as 10 power plants sat idle. Total power generation fell to 2,943.4MW as of 6am on Sunday from 3585.6MW onRead More

Senate Summons CBN, FIRS Again Over $21.3bn Foreign Tax

The Senate Public Accounts Committee
The Senate Public Accounts Committee has issued fresh summons to the management of both the Central Bank of Nigeria and the Federal Inland Revenue Service. The Chairman of SPAC, SenatorRead More

Tinubu’s Daughter Denied Any Knowledge Of Fresh levies At Computer Village – President, Coalition Of Associations At The Market

President, Coalition of Associations in Computer Village, Lagos’ tech hub in Ikeja
In this interview, President, Coalition of Associations in Computer Village, Lagos’ tech hub in Ikeja, speaks about the controversies surrounding multiple levies allegedly being introduced by the Iyaloja General ofRead More

6.46 Million On Estimated Billing Face Meter Price Hike

Metered and estimated bill electricity consumers in Nigeria
A total of 6,456,275 electricity users in Nigeria have not been metered and will have to pay a newly approved increased fee when purchasing meters. Latest figures on the numberRead More

FCCPC Prosecutes Ebeano Supermarket, H-Medix, Faxx Stores, Bakan Gizo Pharmacy Over Alleged Price Gouging

FCCPC prosecute Ebeano Supermarket
The Federal Competition and Consumer Protection Commission, FCCPC, has instituted legal proceedings against Ebeano Supermarket, H-Medix, Faxx Stores, and Bakan Gizo Pharmacy over alleged price gouging. Tunde Irukera, CEO ofRead More

Electricity Consumers To Pay More For Prepaid Meters

Prepaid Meters
Power consumers are going to start paying more for prepaid meters as the Nigerian Electricity Regulatory Commission has hiked the cost of the commodity. It was gathered in Abuja onRead More

FG Plans To Tax Netflix, Facebook, Others

The Minister of Finance, Budget and National Planning, Zainab Ahmed
The Federal Government plans to tax foreign digital service providers offering services to Nigerians and earning revenue in Naira. Some of these service providers which are video streaming sites, socialRead More

Firms Expect Further Naira Depreciation, US Dollar Sells For N440

Naira exchange rate
A report by the Central Bank of Nigeria has said that business organisations in the country expect the Naira to depreciate further in the next few months. The US DollarRead More