Power Generation Hits 4,285 Megawatts

By Adedapo Adesanya The NASD Over-the-Counter (OTC) Securities Exchange continued its weekly positive run as it extended its gains by 0.41 per cent in the 38th week of trading in this year. The bullish posture was supported by the improvements in the share prices of six companies admitted to the alternative stock exchange in Nigeria. This increased the NASD Unlisted Securities Index (NSI) by  2.30 points from 805.65 points in the previous week to 808.95 points, as the market capitalisation of the bourse was relatively unchanged on a week-on-week at N1.140 trillion. Food Concepts Plc led the price gainers’ after

By Bliss Okperan Nigeria’s internet speed averages 25 megabits per second (Mbps), according to data from Surf Shark, a cybersecurity company focused on developing humanised privacy and security solutions. The ranking, contained in the 5th annual (Digital Quality of Life Index (DQL), showed that the country dropped two places to 7th from 9th within the last two years. A quick average analysis shows that at an average of 25 Mbps, Nigeria is far from the world’s fastest fixed internet Singapore, which is 300 Mbps and is ahead compared to the slowest fixed internet in the world, Yemen, which is 11

By Adedapo Adesanya  The Central Bank of Nigeria (CBN) has confirmed the resignation of Mr Godwin Emefiele as its governor and the resumption of Mr Olayemi Cardoso as the next head of the apex bank, albeit in an acting capacity. The apex bank’s Director of Corporate Communications, Mr Isa AbdulMumin, said Mr Cardoso will act as governor pending his confirmation by the Nigerian Senate, which is away on recess until Tuesday, September 26. This also confirms the exit of Mr Folashodun Shonubi, who was acting in that position following the ousting of Mr Emefile three months ago. “Dr Olayemi Michael

By Dipo Olowookere Leading online travel agency, Jumia Travel Nigeria has announced plans to hold a tourism summit in Lagos on Wednesday, March 29, 2017. Experts from various sectors of the tourism industry will converge to brainstorm on what Nigerian/African travellers are searching for – the new trends and how these expectations can met by each stakeholder responsible for enriching their travel experience. The company’s Head of PR & Marketing, Mr Olukayode Kolawole, made the disclosure in a press statement, adding that facilitating a summit to discuss critical industry issues has always been a key focus for the company. He

By Modupe Gbadeyanka Some participants at the ongoing Nigerian Economic Summit (NES) in Abuja were surprised on Monday when the Minister of Budget and National Planning, Mr Udoma Udo Udoma, could not state categorically what Nigeria’s debt profile was. His response to a question asked by one of the moderators at the occasion, Zain Asher of CNN, provoked loud murmurs from the audience, who were apparently shocked. Asher had requested the Minister to say what Nigeria’s debt profile was, but Mr Udoma could not provide an accurate answer. “How much is Nigeria’s total debt?” the CNN anchor asked the Minister.

By Modupe Gbadeyanka Twelve contestants in the ongoing The Voice Nigeria (TVN) season two sponsored by Airtel Nigeria are seeking fans’ votes in order to continue their journey in the programme. This Sunday, the 12 contestants will know their fate when the four talents saved via polls will be announced. Each team has three team mates vying for one ticket to the next rounds; the other two remaining team mates will be evicted once the results are announced. During the episode 12 of the show, the four coaches saved Yimika, Wilson, Glowire and Jahtell respectively; leaving 12 other talents up

By Dipo Olowookere Nigerian Ambassador to the Netherlands, Mr Oji Ngofa, has described the nation’s trade surplus with the Netherlands as “healthy.” According to him, the European country is currently Nigeria’s largest trading partner, with trade volume of over €3 billion (about N1.2 trillion). He explained that the above figure was harvested from the Gross Domestic Product (GDP) data released by the National Bureau of Statistics (NBS) for the first quarter of 2018. President Muhammadu Buhari left Nigeria on Sunday morning for a meeting in The Hague, Netherlands. The Nigerian envoy, during his background briefing to journalists on President Buhari’s

By Adedapo Adesanya The volume of gas flared by oil and gas companies operating in Nigeria in 2022 dipped by 13.6 per cent to 224.9 billion standard cubic feet (SCF) compared with 260.3 billion SCF of gas flared in the 12-month period of 2021, according to statistics released by the National Oil Spill Detection and Response Agency (NOSDRA). NOSDRA, in its latest gas flare statistics, disclosed that this translated to a loss of $787.2 million, an equivalent of N362.931 billion, in the 12-month period of 2022 compared with $911.0 million (N420.007 billion) recorded in 2021. The environmental protection agency further

By Dipo Olowookere The equity market returned to the red territory on Wednesday after closing positive on Tuesday by 0.10 percent. Business Post reports that the Nigerian Stock Exchange (NSE) depreciated by 0.12 percent today as market corrections continue especially from the bullish run recorded at the beginning of this year on the back of the strong performance in 2017. At the close of transactions today, the All-Share Index (ASI) declined by 47.05 percent to finish at 40,755.73 points, while the market capitalisation decreased by N17.2 billion to settle at N14.721 trillion. Despite the loss today, the volume and value

By Adedapo Adesanya Africa’s first and largest pan-African network of private higher education institutions, Honoris United Universities, has announced its expansion into West Africa by partnering with Nile University of Nigeria. In a press statement, Honoris said with its collaboration with Nile University, students will have access to diverse experiences across the entire network, including 21st century physical and digital learning environments using state-of-the-art professional technologies. In addition, they will benefit from Honoris’ regional and international network of partners, providing opportunities for student and faculty exchanges and research programs. These experiences will support the growth of highly competitive graduates as

By Dipo Olowookere In an effort to increase the tax base of the country to 17 million in the next two years from its present 14 million, the Federal Government has mapped out plans to recruit about 7,500 graduates for this purpose. The major responsibility of these graduates would be to sensitise Nigerians on why they should pay tax to the government to continue to enjoy basic amenities and other things being provided by the government to them. Minister of Finance, Mrs Kemi Adeosun, who addressed the media on Thursday in Abuja alongside the Executive Chairman of the Federal Inland