The Nigerian government has drafted a plan to reintroduce the telecommunications tax previously suspended and other revenue-generating measures to secure a $750 million World Bank Loan. This is according to the recent Stakeholder Engagement Plan for Nigeria – Accelerating Resource Mobilisation Reforms programme between Nigeria and the World Bank. The document posted on the World […]
Nigerian govt delivers doses of anthrax vaccines to Taraba
The Taraba State government has received the delivery of hundreds of doses of anthrax vaccines from the federal government. Receiving the vaccines on Monday in Jalingo, the Commissioner for Agriculture and Food Security, Professor Nicholas Namessan Oliver, said the vaccines would assist the state government in its efforts to combat the spread of anthrax in […]
Nigerian govt confirms electricity tariff reduction for Band A customers
The Nigerian Electricity Regulatory Commission has confirmed electricity tariff reduction across eleven Electricity Distribution Companies. Dafe Akpeneye, Commissioner of Legal, Licensing and Compliance at NERC, disclosed this in an exclusive interview with DAILY POST on Monday. This comes against the backdrop of the recent announcement by Ikeja Electric that it has slashed the electricity tariff […]
Nigerian govt caps power supply to four African countries at 6%
The Nigerian Electricity Regulatory Commission has ordered the Transmission Company of Nigeria to peg power supply to international customers in Benin Republic, Niger, and Togo at 6 per cent. The Commission disclosed this in a recent document titled ‘Interim Order on Transmission System Dispatch Operations, Cross-border Supply, and Related Matters’ signed by its Chairman, Sanusi […]
Nigerian Govt restates commitment to curtail rising cost of drugs
The Federal Government has pledged to bring down the soaring cost of medications to make it affordable to Nigerians. The Director-General, National Agency for Food and Drug Administration and Control, NAFDAC, Prof. Mojidola Adeyeye, said this in a statement on Sunday in Abuja. According to the statement, Adeyeye gave the assurance at a webinar lecture […]
Electricity tariff hike: Nigerian govt ignores TUC, NLC’s call for reversal
The Nigerian government has said there is no going back on the recent electricity tariff hike despite the two-week request issued by the Trade Union Congress calling for the hike reversal. Florence Eke, the spokesperson for the Ministry of Power, disclosed this in a statement on Sunday while reacting to organized Labour’s ultimatum. According to […]
Nigerian govt moves to reduce multiple security personnel at airports
The Nigerian government said it plans to reduce the number of security checks at the country’s airports. The development comes as the Federal Airports Authority of Nigeria, FAAN and the Office of the National Security Adviser, NSA partner to cut down on multiple security checks at Nigerian airports. Olubunmi Kuku, Managing Director of FAAN, disclosed […]
Naira vs Dollar: Nigerian govt eyes stricter sanctions on Cryto businesses
The Nigerian government plans to impose stricter rules on cryptocurrency platforms to defeat the Naira against the dollar in the foreign exchange market. The development comes as the Director General of Nigeria Securities and Exchange, Emotomtimi Agama, will meet with local and international crypto exchanges on Monday. Blockchain Industry Coordinating Committee of Nigeria, BICCoN, chair, […]
Nigerian Govt adds 625mw to national grid
The Federal Government has added 625mw of power to the national grid, increasing the grid’s wheeling capacity to 4800mw. This is contained in a statement by Bolaji Tunji, the Special Adviser, Strategic Communications to the Minister of Power on Friday in Abuja. Tunji quoted the Minister of Power, Adebayo Adelabu as saying this at the […]
Nigerian Govt raises Maximum Deposit Insurance Coverage for banks
The Nigerian Government has reviewed upward the Maximum Deposit Insurance Coverage for banks operating within the country. In a recent briefing with journalists, Nigeria Deposit Insurance Corporation Managing Director, Bello Hassan disclosed the new coverage benchmarks. The NDIC for Deposit Money Banks has been raised from N500,000 to N5 million, for Microfinance Banks from N200,000 […]