The Nigerian Minister of Power, Adebayo Adelabu, has directed the Transmission Company of Nigeria (TCN) and other relevant agencies to urgently implement recommendations made by an inter-agency committee tasked with investigating frequent national grid collapses. This move follows another grid disturbance reported by TCN at around 11:29 a.m. on Thursday, caused by a sudden frequency […]
Category archives: News
Civil Society Groups Urge President Tinubu to Investigate Fuel Import Monopoly Impacting Nigerian Economy
The Nigerian Coalition of Civil Society Organizations (NICOCSO) has called on President Bola Tinubu to investigate alleged actions by a “powerful group” that is reportedly blocking local refinery development and pushing for the continued importation of Premium Motor Spirit (PMS). NICOCSO claims this group’s activities threaten Nigeria’s economic stability by depleting resources, weakening the Naira, […]
Federal Government Vows to Address Frequent National Grid Collapses with New Action Plan
The Nigerian Federal Government has committed to a comprehensive strategy aimed at ending the repeated national grid collapses that have plagued the power sector. Minister of Power, Adebayo Adelabu, announced this on Thursday after receiving a report from the committee investigating the recurring grid failures. Adelabu reassured Nigerians that steps are being taken to prevent […]
Bimbo Manuel Claims Nollywood Stars’ Luxury Lifestyles Are ‘Fake’ and Not Funded by Acting Fees
Veteran Nollywood actor Bimbo Manuel recently shared his perspective on the luxury lifestyles flaunted by some Nigerian actors, stating that the wealth displayed by stars driving Range Rovers and living in upscale Lagos mansions often doesn’t come solely from acting. Speaking on TVC’s Your View, the 66-year-old actor remarked that it’s nearly impossible for actors […]
Trump’s Election Victory Drives Oil Prices Higher Amid Market Volatility
Oil prices saw an upward shift yesterday following Donald Trump’s re-election, despite an initial drop of over $2 per barrel due to a report from the U.S. Energy Information Administration (EIA) showing an unexpected rise in U.S. crude stockpiles. Brent crude futures increased by 38 cents to $75.91 per barrel, while U.S. West Texas Intermediate […]
Nigeria’s National Grid Experiences 11th Collapse in 2024 Due to Frequency Spike – TCN Explains
The Transmission Company of Nigeria (TCN) has provided insights into the cause of the national grid’s 11th collapse in 2024, which occurred shortly after a similar event earlier in the week. According to Mrs. Ndidi Mbah, TCN’s General Manager of Public Affairs, Thursday’s grid failure was triggered by a sudden rise in frequency. Mrs. Mbah […]
Black Market Dollar to Naira Rate Rises Amidst Economic Concerns, DAPPMAN Rebukes Dangote Refinery on Fuel Pricing
Dollar to Naira Black Market Rate Hits N1730 as Fuel Price Dispute Escalates The dollar-to-naira exchange rate in Nigeria’s black market continues to rise, with Bureau de Change operators in Lagos buying at N1725 and selling at N1730 as of November 6, 2024. This parallel market rate remains significantly higher than the Central Bank of […]
Nigeria’s Fuel Crisis: Oil Marketers Warn Against Dangote’s Monopoly Amid Rising Petrol Prices
Oil Marketers Warn Against Dangote Refinery Monopoly as Fuel Prices Surge in Nigeria As Nigerians struggle with soaring petrol prices, oil marketers are pushing back against a potential monopoly by the Dangote Petroleum Refinery. In a court case filed under number FHC/CS/ABJ/1324/2024, marketers including AYM Shafa, A.A. Rano, and Matrix Petroleum argue that allowing Dangote […]
CSOs Demand Probe Of Cabals Hindering Local Refineries
The Nigerian Coalition of Civil Society Organizations (NICOCSO) has called on President Bola Tinubu to urgently launch an investigation into cabals impeding the progress of local refineries and perpetuating the importation of Premium Motor Spirit (PMS). The coalition held a press conference in Abuja on Wednesday, 6th November 2024, to address the important national issue.NICOCSO’s […]
Coalition Dismisses Call For Sack Of NNPCL Boss
A coalition under the auspices of the Coalition of Civil Society Organisations Against Corruption, COCSOAC, Nigerian Professionals in Diaspora, NPID, and Bloggers respectively, came together, Wednesday, to vehemently condemn a section of the country calling on President Bola Tinubu to sack the Group Chief Executive Officer, GCEO, Nigerian National Petroleum Company Limited, NNPCL, Engr Mele […]