BREAKING: Again, Buhari Absent at FEC Meeting

By Adedapo Adesanya The federal government has announced that only 422 of the total 1,411 Nigerian delegates at the ongoing COP28 were funded with taxpayers’ money. This clarification followed the outrage over the size of Nigeria at the conference in Dubai, the United Arab Emirates (UAE). The Minister of Information, Mr Mohammed Idris, disclosed this in a statement on Monday evening amidst concerns by Nigerians about the large number of the country’s delegates at the climate change conference in Dubai. Business Post had reported that Nigeria was joint third with China behind the UAE and Brazil among all the countries

By Adedapo Adesanya  PricewaterhouseCooper (PwC) Nigeria has commended the country’s move towards fixing its copious electricity challenges with the Electricity Act 2023 and proposed key amendments that will ensure the issues are faced head-on, At the 14th edition of its Annual Power and Utilities Roundtable, with the theme The Electricity Act 2023: Powering Nigeria, the Partner and Energy, Utilities and Resources Leader at PwC Nigeria, Mr Pedro Omontuemhen, noted that, “The 2023 power roundtable’s timing coincides with the ongoing COP 28 in Dubai, highlighting the urgent need for continued action on climate change especially in the area of renewable energy.”

By Adedapo Adesanya The Nigeria Upstream Petroleum Regulatory Commission (NUPRC) has unveiled the regulatory framework for energy transition, decarbonisation, and carbon monetization for upstream operations in Nigeria. The Commission Chief Executive, Mr Gbenga Komolafe, unveiled the regulatory framework at COP28 in Dubai, the United Arab Emirates (UAE) themed Driving Sustainable Upstream Operations to Achieve Just and Equitable Energy Transition.  Mr Komolafe noted that the regulatory framework has Natural Gas shift, zero routine gas flaring and methane abatement, carbon market development, and upstream operations efficiency as its key pillars. Others include technology and innovation, incentive mechanisms, collaboration, and risk management. According

By Adedapo Adesanya Oil prices rose over 1 per cent on Monday after China, the world’s second-largest economy, reopened its borders for the first time since 2020. The world’s largest oil importer reopened its doors to international visitors for the first time since it imposed travel restrictions in March 2020. Incoming travellers will no longer need to quarantine – marking a significant change in the country’s COVID-19 policy as it battles a surge in cases. However, they will still require proof of a negative PCR test taken within 48 hours of travelling. The move has been welcomed by the market

By Ahmed Rahma Google’s Nest unit is expanding into health technology with a feature that tracks sleep patterns, offering a potential new revenue stream but also raising privacy concerns. The company unveiled the second-generation model of its Nest Hub smart display in a blog post on Tuesday, and this time it comes with a function called Sleep Sensing that monitors the breathing and movement of a person sleeping next to the screen without a camera or needing to wear a device in bed. The system also detects disturbances such as coughing and snoring, along with light and temperature changes using

By Dipo Olowookere It was a bad day for Cadbury Nigeria Plc at the nation’s stock exchange as its shares depreciated by 65 kobo to close at N7.10 per unit. The fast-moving consumer goods producer was among the 19 price losers recorded at the close of business on the floor of the Nigerian Stock Exchange (NSE) on Wednesday. The market lost 0.19 per cent when trading activities were paused for the day. The other major price decliners yesterday were Lafarge Africa, which lost 50 kobo to settle at N13 per unit; NEM Insurance, which declined by 22 kobo to sell

By Aduragbemi Omiyale The divisional chief executive of ipNX Nigeria, Mr Segun Okuneye, has bemoaned the low level of fibre optic infrastructure in the country as what is on the ground at the moment is only available in a few cities and urban areas. While addressing telecoms stakeholders at a forum dedicated to the National Policy on 5G network for Nigeria’s digital economy, he attributed factors behind this to vandalism and damage to existing fibre infrastructure from road construction. He further listed Right of Way (RoW) as a long-standing challenge to telecoms infrastructure roll-out over the years, stating that the

By Ahmed Rahma The General Officer Commanding (GOC) 6 Division in Port Harcourt, Rivers State, Major-General Johnson Olu Irefin, had died from coronavirus-related complications on Thursday. Mr Irefim, who died in Abuja after testing positive for COVID-19, was a participant at the Chief of Army Staff’s 2020 annual conference held in Abuja. While at the event, he fell ill and was taken to the hospital on Tuesday evening. The deceased was the GOC 81 Division Nigerian Army in Lagos before he was appointed as the GOC in Port Harcourt in July 2020, replacing Major General Felix Agugo. The death of

By Edwin Emeka Aboh The spurious allegations made against winner of the Peoples’ Democratic Party (PDP) primary election for Aniocha/Oshimili Federal Constituency of Delta State, Mr Ndudi Elumelu, by the outgoing occupant of the seat, Mrs Amaechi Mrakpor is the highest display of political bitterness and insensitivity in our growing democracy. The unfounded allegation aimed at disparaging and reducing the fortunes of PDP in the state should be viewed as the height of ungratefulness from a woman who was elected in to the House of Representatives on the platform of the Peoples Democratic Party in 2015. It is unfortunate that

By Keoleboge Malela Impact investing refers to investments that are made to achieve positive financial returns combined with measurable, positive environmental and social impact. The impact investment sector is currently estimated to be worth $1.164 trillion globally. Of that, Sub-Saharan Africa lays claim to a relatively small $65 billion, with South Africa accounting for 84% of all impact investment assets in the region. It should be clear, then, that there’s substantial room for impact investment growth across the continent. But if we’re to offer any kind of roadmap for how that growth might be achieved, it’s important to understand what

By Dipo Olowookere The Debt Management Office (DMO) on Friday said Nigerian government was considering taking loan from foreign sources to fund the 2020 budget signed into law by President Muhammadu Buhari a month ago. On December 17, 2019, Mr Buhari, who travelled to the United Kingdom today for an investment summit starting next Monday, signed the 2020 Appropriation Bill into law. His government proposed to spend N10.33 trillion in this fiscal year, which kicked off on January 1. In a chat with newsmen today, Director General of DMO, Ms Patience Oniha, said the President Buhari administration was planning new