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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

Siemens Deal: Electricity Supply Equipment To Begin Arriving From Germany In September

Electricity power plants
FGN Company assures of additional 2,000MW The much-awaited actual take-off of the Siemens power deal is expected to experience a major leap in September, when electricity equipment like transformers andRead More

MTN Nigeria Issues Historic N127bn Commercial Paper

MTN Nigeria
MTN Nigeria Communications Plc yesterday issued a historic N127 billion Series 1 & 2 Commercial Paper (CP) under its registered N150 billion programme. The issuance consisted of two tenors –Read More

Sanwo-Olu: Lagos Rail System To Commence Operation First Quarter 2023

Governor Babajide Sanwo-Olu of Lagos State
Blue line at 90% completion Laments vandalism of rail equipment Lagos State Governor, Mr. Babajide Sanwo-Olu, yesterday, inspected the on-going construction of the Lagos Rail Line project and said theRead More

FG To Boost Crude Oil Production In Two Weeks

Minister of Finance, Budget and National Planning, Mrs. Zainab Ahmed
Says shocks in oil market difficult to manage *Attributes high cost of fertiliser to scarcity of potassium The federal government will boost crude oil production through the reactivation of oilRead More

Clearing Agents To Shut down Ports Tomorrow Over 15% Levy On Imported Vehicles

Association of Nigerian Licensed Customs Agents (ANLCA)
Clearing agents under the aegis of the Association of Nigerian Licensed Customs Agents (ANLCA) have resolved to embark on a warning strike from Monday, April 25. The Chairman of ANLCARead More

Rethink Your Policy On Fuel Subsidy, World Bank Tells Nigeria

President of the World Bank Group, Mr. David Malpass
Insists the rich benefit more from fuel subsidy than the poor Says barriers distorting country’s trade flows The President of the World Bank Group, Mr. David Malpass has once moreRead More

NERC: Why Discos Are Unable To Raise Money For Capital Spending

Nigerian Electricity Regulatory Commission (NERC)
AFG, World Bank, others target December to eliminate tariff shortfalls Cut under-recovery from N1.8trn to N247bn The Nigerian Electricity Regulatory Commission (NERC) said yesterday that the inability of the DistributionRead More

Adulterated Fuel: House Revokes Decision, Exonerates Duke Oil, Others Of Complicity

Nigerian National Petroleum Corporation (NNPC)
Urges NNPC to maintain 90m liters daily supply The House of Representatives has rescinded its earlier decision, directing the Nigerian National Petroleum Corporation (NNPC) to suspend four oil marketers/importers, namely,Read More

Malabu: Transfer Of OPL 245 Asset Got Presidential Approval, Documents Show

Malabu Oil & Gas Limited
The transfer of Oil Prospecting Licence (OPL) 245 after a 2006 out-of-court settlement between the federal government and Malabu Oil & Gas Limited got the approval of former President OlusegunRead More

Youth Group, OYC Threatens To Picket Multichoice Over Hikes In Prices Of DStv, GOtv Packages

DStv and GOtv
The Oodua Youth Coalition (OYC) has threatened to picket the office of pay TV company, Multichoice Nigeria on Victoria Island in Lagos. The group described the move as its responseRead More