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Grid collapse: TCN in four-hour power restoration battle

Power generation on the national grid collapsed to as low as 10 megawatts on Wednesday afternoon, but rose to 4,123.8MW on Thursday morning after a four-hour intervention by the Transmission…

Naira slumps to 523 against dollar at parallel market

The naira slumped further to 523/$ at the parallel market on Wednesday, a day after the Central Bank of Nigeria stopped the allocation of foreign exchange to Bureau de Change…

Power grid collapses again amid lack of backup capacity

‘Femi Asu and Ted Odogwu Published 29 July 2021 The national power grid has suffered another system collapse, worsening the blackout being experienced by households and businesses in parts of…

Poor oil investments’ll adversely affect Nigeria, OPEC warns

Investing poorly in the oil and gas industry will have a heavy adverse impact on Nigeria and other oil-producing developing nations, the Organisation of Petroleum Exporting Countries warned on Wednesday.…

Osinbajo laments high post-harvest losses, blames poor storage, facilities

Vice President Yemi Osinbajo has expressed sadness over the rising cases of post-harvest losses of agricultural produce in Nigeria which he blamed on poor storage, poor rural infrastructure and non-automation…

Tesla’s bitcoin holding reaches $1.31bn, Amazon set for crypto payment

Tesla has bitcoin holding worth $1.31bn. The company did not buy or sell any bitcoin during the second quarter of the year. This was according to Tesla’s second-quarter earnings report.…

Nigeria’s revenue-to-GDP ratio lowest, private sector choking – W’Bank

’Femi Asu and Temitayo Jaiyeola Published 27 July 2021 · Finance minister says revenue very weak Nigeria’s revenue-to-Gross Domestic Product ratio, which fell to between five and six per cent…

Cooking gas price soars to N500/kg, retailers, consumers lament

’Femi Asu and Juliana Ajayi Published 23 July 2021 The price of Liquefied Petroleum Gas, also known as cooking gas, has skyrocketed to a record high of N500 per kilogramme,…

Lagos NURTW generates N123bn annually – Report

The Lagos chapter of the National Union of Road Transport Workers, locally called agberos, generates about N123.08bn annually which could service the annual budget of Nasarawa, Niger, and Yobe states…

COVID-19 wiped off $5bn Diasporan remittances, says FG

THE Federal Government has said that the COVID-19 pandemic has wiped off 20 per cent from the $25bn annual diasporan remittances to Nigeria. The government noted that various targeted programmes…