Court Rejects DSS Request to Hold Emefiele In Custody

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 International Finance Corporation (IFC) has announced a collaboration with Allied Climate Partners (ACP) that will help create a pipeline of viable climate investments in emerging markets including Southeast Asia, Africa, the Caribbean and Central America, and India. ACP’s new platform is backed by philanthropic capital and designed to mobilize investment in climate-related projects in emerging economies to create significant environmental, economic, and social impact. In a statement seen by Business Post, the parties said the collaboration with IFC will provide advisory and structuring support, technical assistance, and sustainability and impact-management support as needed to help bring

By Adedapo Adesanya Operatives of the National Drug Law Enforcement Agency (NDLEA) have uncovered illicit substances bound for Europe, the United Arab Emirates and Asia. Disclosing this in a statement on Sunday, NDLEA spokesman, Mr Femi Babafemi, said the illicit substances intercepted included various quantities of methamphetamine and opioids concealed in hems of new jeans trousers, dolls, buttons, local soap and tins of milo beverage. He noted that the operation was carried out by operatives of the Directorate of Operations and General Investigation (DOGI) at courier houses in Lagos, he said some of the items seized included tramadol 225mg concealed

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 rebounded by 3 per cent on Tuesday as the market weighed plans by China to support its economy against a possible coronavirus lockdown in its capital Beijing. Brent crude gained $3.32 or $3.24 per cent to trade at $105.60 per barrel, while the United States West Texas Intermediate (WTI) crude rose $3.64 or 3.69 per cent to $102.2 per barrel. In China, lockdowns to counter COVID-19 in Shanghai have dragged into their fourth week and orders for mass testing, including in Beijing’s largest shopping district, have prompted fears of other Shanghai-style lockdowns, causing both Brent and

By Dipo Olowookere The Nigerian currency, Naira, on Thursday, February 9, 2017, crashed to an all-time low of N503 to the Dollar at the parallel market. On Monday, February 6, 2017, Business Post exclusively reported that the lingering forex crisis may push the Naira above N500 before the end of this week, at least by N1 to N2. Read our story here: Forex Crisis: Naira May Go Above N500 Per Dollar This Week True to our exclusive story, the Naira, at the parallel market this afternoon, was exchanged at the rate of N503 per Dollar. Also, the British Pound Sterling

By Professor Maurice Okoli Undoubtedly the forthcoming 15th BRICS (Brazil, Russia, India, China and South Africa) summit on August 22 – 24 in Johannesburg, South Africa, opens the door for multiple critical issues mostly relating to the irreversible processes of the emerging new world. While it seriously presents an opportunity to take meticulous stock of its wins and losses, strengths and weaknesses, the summit has the imperative to examine the new paradigms, evaluate innovative directions and assess strategies for moving the organization further in this re-configuration world. The BRIC concept was created by the Goldman Sachs economist Jim O’Neill and

By Dipo Olowookere One of the foremost groups in Nigeria, Socio-Economic Rights and Accountability Project (SERAP), has threatened to take a legal action against Minister of Finance, Mrs Kemi Adeosun, if she fails to speak on the authenticity of her National Youth Service Corps (NYSC) exemption certificate. Exactly three weeks ago, Premium Times published a report alleging that the Minister forged her NYSC exemption certificate. After the report, the management of the corps said it was investigating if the certificate was forged or not. However, it confirmed that Mrs Adeosun did applied for the certificate, but failed to state if

By Dipo Olowookere A recent report published in the Daily Trust Newspaper, saying that harmful germs were found in Lagos public water supply has been debunked by the state government. A statement issued on Tuesday by the Managing Director, Lagos Water Corporation, Mr Muminu Badmus, explained that a comprehensive laboratory test and analysis have been carried out in all its facilities, in the last few weeks, and it is clear that Lagos public water supply is safe and good for consumption as it is produced in conformity with World Health Organisation’s (WHO) standard. The newspaper had claimed to have conducted

By Investors Hub The major U.S. index futures are pointing to a higher opening on Friday following the downturn seen over the course of the previous session. The markets may benefit from optimism about the Republican tax reform plan despite some GOP Senators raising concerns about the bill. A House-Senate conference committee seeking to negotiate differences in the bills passed by the two chambers is expected to release their combined legislation this afternoon. After an early move to the upside, stocks turned lower over the course of the trading session on Thursday. The Dow pulled back into negative territory after

By Dipo Olowookere The Nigerian Senate on Tuesday finally laid the 2018 appropriation bill after postponing it in the past two different times. The #Budget2018 Report was laid on the floor of plenary today by Chairman of the Senate Committee on Appropriations, Mr Danjuma Goje. Last week, spokesman of the upper parliament, Mr Aliyu Sabi Abdullahi, said the Senate would lay the report last Tuesday and pass on Wednesday and if it was not laid on Tuesday, it would be done on Wednesday to be passed today. However, the red chamber did not lay the 2018 budget report any of

By Modupe Gbadeyanka Managing Director of the Lagos Water Corporation, Mr Muminu Badmus, has described a recent media report on an exercise carried out by the agency as untrue. In a statement on Friday, Mr Badmus noted that the report captioned ‘Three firms bid for Lagos Water Project’ and published in a daily newspaper, was not accurate. According to Mr Badmus, the LWC published an Expressions of Interest (EOI) for the development of the 70MGD Adiyan Phase II Water Scheme through Public-Private Partnership in three national dailies and Global Water Intelligence, an internationally reputable water sector publication. Subsequently, seven firms