The Central Bank of Nigeria has clarified reasons for the significant decline in the nation’s foreign exchange reserves, asserting that it wasn’t primarily aimed at defending the naira, as commonly believed, but rather to partially repay debts owed to creditors. The bank further expressed its desire to minimise its involvement in the market, aiming to […]
Two German-Russian men were arrested in Bavaria on suspicion of spying for Russia and planning blasts and arson attacks to undermine Berlin’s military support for Ukraine, German prosecutors said Thursday. The pair, identified only as Dieter S. and Alexander J., were arrested in the city of Bayreuth in southeastern Germany on Wednesday, federal prosecutors said […]
In a bid to address the recurrent collapse of Nigeria’s power grid, the Federal Government has deployed a new technology to detect and respond to sudden drops or dips in power generation across the country. It announced this through the Transmission Company of Nigeria on Wednesday, stating that the new Generation Dip/Loss Detection System would […]
The Federal Government through its Ministry of Petroleum Resources and the Nigerian National Petroleum Company Limited have stated that the various claims by different individuals and groups on the alleged return of subsidy on Premium Motor Spirit, popularly called petrol, were wrong. The government also challenged those who make this argument to provide evidence to […]
Days after the Abuja Electricity Distribution Company, AEDC, was ordered to refund all customers who were wrongly billed amid the recent tariff hike, DAILY POST reports that the Disco has remained adamant. It could be recalled that the Disco had applied the electricity tariff hike meant for Band A on all customers regardless of their bands. But […]
The Port Harcourt Refining Company Limited (PHRC) is yet to commence operation despite assurances by authorities that it will come on stream about two weeks ago. Citizens have been made to believe that the coming on board of the Port Harcourt refinery, which had been moribund for decades, and subsequently others in Warri and Kaduna, […]
IN a bid to reduce congestion and encourage timely movement of export cargoes into ports in Lagos, the management of the Nigerian Ports Authority, NPA, has opened a 72 hours access window to all export trucks within which to access various terminals. The NPA also said that failure to access the ports within the time frame, […]
Mrs Mariam Israel, mother of the 15 month old baby who was burnt to death by hoodlums that invaded Egan Oriomi, a riverine community in Otto Awori Local Council Development Area, LCDA, Ojo, Lagos, on Saturday, yesterday said she was prevented from saving the child. Vanguard gathered that five persons out of the 12 suspects arrested […]
THE $20 billion Dangote Petroleum Refinery has slashed the price of diesel by 16.6 per cent to N1,000 per litre, from N1, 200 per litre in order to assist in impacting Nigeria’s domestic economy. The price of diesel was relatively high for months, due mainly to the importation of the product from the global market and […]
In a bid to ensure elderly and the aged in Nigeria get quality and good healthcare services, three Nigerian students, who are presently doing their Masters programme in the United Kingdom, have unveiled a startup called, Sandfort care. According to Damilola Olaopa, founder of the startup, the idea was conceived after a colleague, who works […]
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