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FG to create 7 new railway corridors to expand train services


The Federal Government is to create seven more rail corridors of standard gauge railways in the country, the Minister of Transportation, Mr Chibuike Amaechi, has said. Amaechi made the plan known in Port Harcourt at the inauguration of Port Harcourt – Aba Mass Transit Train Services. He said the initiative ...

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Naira depreciates to N270/dollar in parallel market


The Naira Wednesday depreciated further to N270 per dollar at the parallel market, following reduction of dollar sales to bureaux de change (BDCs) by the Central Bank of Nigeria (CBN). Vanguard Investigation revealed that from N260 per dollar at the close of business on Tuesday, the parallel market exchange rate ...

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Minimum Wage: Call your governors to order, NLC tells APC, PDP


The Nigeria Labour Congress has called on the ruling All Progressives Congress and opposition Peoples Democratic Party to call their governors to order for some of the governors’ insistence on reducing the minimum wage. A statement by the president of the NLC, Ayuba Wabba, said the governors’ insistence on either ...

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Marketers await subsidy payment as fuel scarcity persists


Following the approval by the National Assembly of the supplementary budget, which includes a provision for the payment of subsidy arrears, petroleum product marketers are expecting the issuance of Sovereign Debt Notes by the Debt Management Office for the settlement of the debts. The delay in the payment of the ...

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NCC cuts MTN bill by $1.8 Billion


Nigerian authorities have reduced the $5.2 billion fine imposed on MTN Group Ltd. in October by $1.8 billion, the company said Thursday. The Nigerian Communications Commission (NCC) informed MTN on Nov. 2 that it had reduced the fine to $3.4 billion, payable by Dec. 31. In October, the NCC fined ...

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Nigeria’s largest power plant owed N40b

High voltage electric power substation in summer day

Nigeria’s largest power plant, Egbin Power Plc, said it is owed more than N40 billion ($202 million) and is facing persistent gas supply shortages despite boosting capacity, highlighting continuing challenges in ending daily blackouts since private companies took over the state utilities two years ago. Its Chief Executive Officer Dallas ...

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Fuel scarcity: Marketers blame scarcity on subsidy regime


Calls for subsidy removal Fuel marketers have blamed acute scarcity of petroleum products on the subsidy regime by the government. Speaking at the fifth Lecture & Awards series organised by the Nigerian NewsDirect Newspapers in Lagos at the weekend, the Executive Secretary, Major Oil Marketers Association of Nigeria (MOMAN), Mr ...

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Senate Gives FG 2-week Ultimatum To End Fuel Scarcity


Disturbed by the increasing fuel cues in petrol stations across the country, the Senate yesterday gave the Minister of Petroleum Resources two weeks ultimatum to address the issues behind the lingering fuel scarcity in the country. The petroleum minister position is currently being occupied by President Muhammadu Buhari. The Chairman, ...

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Traders Lament Delayed Compensation Of Demolished Shops In Kuje


Traders in Kuje area council have lamented the area council’s delay in compensating them for their shops demolished in the on-going modernisation of the main market. The traders who expressed dissatisfaction with the area council management for delaying the compensation in the market project, decried the poor communication between traders ...

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Virgin Atlantic explains why it sacked Nigerian crew


Virgin Atlantic Airways has explained why it laid off all its Nigerian crew. DAILY POST reports that the British carrier has shut its call centre in Lagos and subsequently disengaged all its Nigerian crew. At least, 20 Nigerian air hostesses were sacked in the process. Reacting to the development via ...

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Dangote Ranked Among 100 Most Powerful People in the World

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Africa’s richest,President of Dangote Group, Mr. Aliko Dangote, was, at the weekend, rated among the 100 most powerful people in the world by Forbes Magazine. Aliko, the only black who made the list apart from President of the United States, Barack Obama, was listed at number 71 just above the ...

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