Fashola To Lead Talks On Electricity Metering

By Adedapo Adesanya The Naira appreciated against the US Dollar in the Nigeria Autonomous Foreign Exchange Market (NAFEM) and the unregulated Peer-to-Peer (P2P) and the parallel market segments of the foreign exchange (FX) market on Wednesday, November 29 as President Bola Tinubu reiterated his administration’s promise to meet its obligations. Speaking during the presentation of his administration’s N27.50 trillion 2024 budget proposal to the joint session of the 10th National Assembly on Wednesday, Mr Tinubu said, “Despite the challenges, we continue to meet our obligations.” In the official NAFEM segment of the market, the value of the local currency went

In furtherance of my sacred duties and obligations as President of the Federal Republic of Nigeria, it is my honour to be here today to present my administration’s 2024 Budget Proposal to this Joint Session of the 10th National Assembly. This moment is especially profound and significant to me because it is my first annual budgetary presentation to the National Assembly. Distinguished Senators and Honourable Members of the National Assembly, I commend your swift consideration and passage of the 2023 Supplementary Appropriation Bills and the 2024-2026 Medium Term Expenditure Framework and Fiscal Strategy Paper. Your prompt action underscores your devotion

By Adedapo Adesanya Nigeria will accept and work with a production quota of 1.5 million barrels of crude oil per day in 2024 as the country aims to grow on the back of its oil resources, following a revision done by the Organisation of the Petroleum Exporting Countries and its allies, OPEC+. According to a statement issued by the Press and Public Relations unit of the Ministry of Petroleum Resources, Thursday’s meeting of the 23-man group addressed crucial aspects, including the completion of assessments by independent sources (IHS, Wood Mackenzie, and Rystad Energy) on the projected production levels for Angola,

By Adedapo Adesanya  Angola, one of Africa’s top crude oil producers and a key member of the Organisation of the Petroleum Exporting Countries (OPEC), has officially rejected the proposed production quota for the year 2024 and may even exit the group. This was signalled by Mr Diamantino Pedro Azevedo, Angola’s Minister of Energy and Mineral Resources, confirming the nation’s decision and indicating a divergence from OPEC’s suggested allocations for both member and non-member countries. The announcement was made during the 26th OPEC+ Meeting on Thursday, where the organisation proposed 1.11 million barrels of crude oil per day production quota for

By Adedapo Adesanya The shortage of Dollar at the foreign exchange (forex) market in Nigeria crumbled the Naira at the parallel market on Tuesday. Business Post reports that the local currency crashed against the US Dollar yesterday by N5 to trade at N480/$1 in contrast to Monday’s rate of N475/$1 at the same market segment. Also at the black market, the domestic currency lost N5 against the British Pound Sterling on Tuesday, August 18 to trade at N610/£1 compared to N605/£1. However, it remained flat against the Euro during the trading session at N550/€1. At the Bureaux De Change (BDC)

By Dipo Olowookere The drive to provide reliable and affordable access to power for average households and small businesses across Nigeria has made Lumos Nigeria introduce two new products. Since its establishment five years ago, Lumos Nigeria has continued to offer stable, clean and affordable alternative power supply to its customers and by 2025, it hopes to service about one million households in the country. Determined to achieve this target, the leading provider of high-quality solar home systems in Africa has introduced two new product offerings; Lumos Prime and Lumos Eco. The new products were introduced in partnership with telecommunications

Diving into the world of cryptocurrencies in Turkey? With the tight regulations and recent concerns like the Thodex scam, it’s natural to feel a bit overwhelmed. Ensuring your investments are safe is crucial. That’s why Traders Union (TU) has taken the lead, meticulously examining the top crypto platforms in the country. This article provides you with the results – a detailed review of the best crypto exchanges in Turkey has to offer. Top picks: Turkey’s leading crypto exchanges in 2023 Searching for the best place to trade cryptocurrencies in Turkey? TU’s analysts have got you covered! Here’s a quick list

Keystone Bank Limited has remained committed to empowering the Nigerian populace with the introduction of the Chat-bot feature called ‘OXYGEN’ as part of its financial inclusion drive. Oxygen is the lender’s interactive virtual banker that chats with customers and carries out their banking transactions upon request.  The feature which enables banking on Telegram and Facebook is fluent in English and is always learning to serve the customer better. Some of the services on Oxygen include accounts opening, fund transfer, bills payment, airtime top up, purchase of movie tickets, balance enquiry, and lots more. How does oxygen work? Step 1: Download

**As Access Bank Gets Court Order to Seize Properties By Dipo Olowookere If urgent steps are not taken, Japaul Oil & Maritime Services Plc, one of the companies listed on the Nigerian Stock Exchange (NSE), may not be able to conduct its normal business interests. This is because Access Bank Plc, another publicly quoted firm, has obtained a Mareva judgment to virtually take control of the company. In suit No: FHC/L/CS/29/19, Justice C. J. Aneke of the Federal High Court sitting in the Lagos granted the lender “An Order for the immediate Arrest and detention of the Vessels MV JAPAUL

By Modupe Gbadeyanka The Speaker of the House of Representatives, Mr Femi Gbajabiamila, has been appointed as the Chief of Staff to President Bola Tinubu. Mr Gbajabiamila won his re-election into the lower chamber of the National Assembly on February 25, 2023, but with this appointment, he will have to lose his seat in the parliament to coordinate the activities of his new boss. Also, Mr Tinubu has picked the former Governor of Benue State, Mr George Akume, as the new Secretary to Government of the Federation (SGF). He is take over from the former occupier of the position, Mr

By Adedapo Adesanya Oil prices climbed to a three-year peak on Monday after the Organisation of the Petroleum Exporting Countries and allies (OPEC+) confirmed it would stick to its current output policy as demand for petroleum products rebounds across the world. As a result, the price of the Brent rose by 2.5 per cent or $2.00 to sell at $81.28 per barrel, while the US West Texas Intermediate (WTI) moved up by 2.29 per cent or $1.74 to trade at $77.62 per barrel. After its monthly meeting on Monday, OPEC+ said it would stick to an existing pact for a

By Adedapo Adesanya  The trade volume between Nigeria and India increased to $13.9 billion (approximately $14 billion) in 2018-2019. This was disclosed by the High Commissioner of India to Nigeria, Mr Abhay Thakur. Mr Thakur made this disclosure at the 70th anniversary of India’s Republic and 60th year of formal diplomatic relations between India and Nigeria on Friday in Abuja. He noted that India and Nigeria had long-standing relations based on mutual respects that predate the independence of the two countries. According to him, 2019 witnessed several milestones in the cooperation between the two countries. ”We held the first-ever bilateral