The Federal Government has withdrawn the provisional allocation of 1,357 housing units across 33 states from beneficiaries who failed to complete their payments within the stipulated timeframe, the Federal Ministry of Housing and Urban Development announced yesterday.In an official statement released on Tuesday, the ministry confirmed that the revocation follows the beneficiaries’ non-compliance with the
EcoFlow, a global leader in portable power and renewable energy solutions, has officially launched operations in Nigeria, marking a significant step in addressing the nation’s persistent electricity challenges. The launch event, held in Lagos, brought together industry stakeholders, energy experts, and consumers eager to explore innovative alternatives to Nigeria’s unreliable power supply. Speaking at the
President Bola Ahmed Tinubu has approved a major shake-up of the Nigerian National Petroleum Company Limited (NNPC Ltd.), reconstituting its board and appointing new leadership to steer the state-owned oil corporation towards greater efficiency and investment growth. The restructuring sees the removal of Pius Akinyelure as Chairman and Mele Kyari as the Group Chief Executive
Nigeria’s journey toward achieving domestic petroleum refining self-sufficiency has encountered significant challenges, as fuel prices have begun climbing once again following Dangote Refinery’s announcement that it has temporarily suspended naira sales of petroleum products. According to market surveys conducted by KIIN360, petrol prices in Lagos reached N940 per litre on Monday, representing a sharp increase
International airlines operating in Nigeria collectively spend approximately N25 billion annually on aircraft towing services due to the non-availability of functional aero bridges at the country’s major airports. The delay in installing these bridges, despite their procurement over a decade ago, has forced airlines to rely on ground handling companies for aircraft movement. Unlike in
Taiwan has developed comprehensive contingency plans to shield its domestic industries from potential US tariffs, according to the island’s economic minister, as President Donald Trump prepares to announce widespread duties against global trading partners tomorrow.Economic Affairs Minister Kuo Jyh-huei revealed during a press briefing yesterday that Taiwan has conducted thorough assessments of various tariff scenarios.
The Nigeria Sovereign Investment Authority (NSIA) has announced its audited financial results for the 2024 fiscal year, revealing a significant 96% surge in net assets to N4.35 trillion. This substantial growth underscores the authority’s effective investment strategy, diversified revenue streams, and robust risk management framework.According to a statement by Joyce Onyegbula, NSIA’s Head of Corporate
Telecom subscribers across Nigeria have raised concerns over unexplained data consumption, prompting a wave of complaints to the Nigerian Communications Commission (NCC) and the Federal Competition and Consumer Protection Commission (FCCPC). Many subscribers allege that their mobile data depletes at an unusually rapid rate, despite unchanged usage patterns. Operators, however, maintain that there is no
The Central Bank of Nigeria (CBN) has reported that Nigerian banks disbursed a total of N470 billion in personal loans during the last quarter of 2024. This development underscores the increasing reliance on consumer credit amid prevailing economic conditions. According to the apex bank’s Fourth Quarter 2024 Economic Report, released on Sunday, total consumer credit
Financial markets across Asia and Europe recorded modest gains on Tuesday, reclaiming some ground after recent substantial losses. However, investor sentiment remains cautious as gold prices reached unprecedented heights ahead of President Donald Trump’s anticipated tariff announcements.Traders worldwide are frantically adjusting their portfolios in preparation for what Trump has dubbed “Liberation Day” on Wednesday. The
