The Minority Caucus of the House of Representatives has strongly condemned the recent increase in petrol prices announced by the Nigerian National Petroleum Corporation (NNPC). In a statement issued by Rep. Kingsley Chinda, the caucus criticized the decision as “ill-timed” and “grossly insensitive,” given the current economic hardships faced by Nigerians. Key Points from the […]
Category archives: News
Mutual Benefits Calls for Policy Reform to Boost Insurance Penetration
Mutual Benefits Assurance Plc has voiced concern over Nigeria’s low insurance penetration and is advocating for policy changes to enhance insurance uptake across the country. Mr. Femi Asenuga, Managing Director/CEO of Mutual Benefits, expressed these sentiments during a workshop aimed at insurance journalists. Asenuga emphasized the crucial role of media in driving policy reforms and […]
Power Generation Drops by 45.4% to 2,777 MW, Highlighting Persistent Sector Challenges
Power generation in Nigeria fell dramatically by 45.4% to 2,777.04 Megawatts (MW) on Wednesday, following a peak of 5,040.72 MW recorded just a day earlier. According to data from the Nigeria Electricity System Operator (NESO), part of the Transmission Company of Nigeria (TCN), generation peaked at 4,370.14 MW around midday before dropping further later in […]
Unveils $115 Million Upgrade at West Africa Container Terminal
Vice President Kashim Shettima officially inaugurated a $115 million upgrade at the West Africa Container Terminal (WACT) in Onne, Rivers State, on Wednesday. This significant investment highlights APM Terminals’ dedication to bolstering Nigeria’s economic growth and its role as a major trade hub in West Africa. The upgrade includes extensive yard expansion, acquisition of state-of-the-art […]
Cryptocurrency Expert Warns Against Celebrity Endorsements and Quick-Rich Schemes
Rume Ophi, an alternative finance and cryptocurrency expert, has advised Nigerians to be cautious of celebrity endorsements and promises of quick wealth in the crypto space. In a statement to Vanguard, Ophi, also known as the Cryptopreacher, highlighted the dangers, especially after the recent collapse of $Jota Coin. He explained, “The value of $Jota Coin […]
Ugandan Olympian Rebecca Cheptegei Dies After Being Set on Fire by Partner
Rebecca Cheptegei, a Ugandan Olympian, has passed away in Kenya four days after being set on fire by her boyfriend, Ugandan athletics officials confirmed on Thursday. “We are saddened to announce the tragic loss of our Olympic athlete Rebecca Cheptegei following a brutal attack by her partner,” Uganda Olympic Committee President Donald Rukare shared on […]
Black Market Dollar to Naira Exchange Rate for September 5, 2024
The exchange rate for the dollar to naira at the black market (parallel market) today, September 5, 2024, stands as follows: Please note that these rates may differ slightly depending on the location and the Bureau De Change (BDC) operators. The Central Bank of Nigeria (CBN) does not officially recognize black market rates and urges […]
Transport Fares Surge in Kaduna After Petrol Price Hike
The recent petrol price increase from ₦617 to ₦897 per litre, effective September 3rd, has caused a sharp rise in transportation costs across Kaduna. Residents report that fares for commercial tricycles (Keke) and motorcycles have doubled, making commuting difficult. For instance, a trip from the central market to Sabo now costs ₦500, up from ₦300. […]
Reps Clarify Gbajabiamila’s Role: No Authority for Oversight Functions
The House of Representatives has clarified that Femi Gbajabiamila, Chief of Staff to President Bola Tinubu, lacks constitutional authority to conduct oversight functions in government agencies. Deputy spokesman Philip Agbese emphasized that oversight remains the exclusive power of the National Assembly, as outlined in Sections 88 and 89 of the 1999 Constitution. Agbese explained that […]
INEC Shuts Down Media Accreditation for Edo Governorship Election
The Independent National Electoral Commission (INEC) has officially closed the media accreditation portal for the forthcoming Edo State governorship election, set for September 21, 2024. The portal will shut down at midnight tonight, with no extensions granted. Sam Olumekun, INEC’s National Commissioner and Chairman of the Information and Voter Education Committee, emphasized the importance of […]