Africa
News stories from Africa…
Power Sector Requires N2 Trillion Recapitalization for Sustainable Revival
The Nigerian federal government has disclosed a staggering capital shortfall of N2 trillion ($2.5 billion) in the electricity sector, emphasizing the crucial need for revitalization to ensure a consistent and reliable power supply across the nation.
Tinubu Makes Key Appointments at NIMASA and NPA
President Bola Tinubu has recently made significant appointments within the Nigerian Ports Authority (NPA) and the Nigerian Maritime Administration and Safety Agency (NIMASA), both falling under the Federal Ministry of Marine and Blue Economy.
The appointments reflect a strategic move … Continue Reading
Nigeria Enters Strategic Partnership with Chinese Firm for Ajaokuta Steel Plant Revival
In a significant move, the Federal Government of Nigeria has joined forces with Luan Steel Holding Group, a prominent Chinese company, to breathe new life into the dormant Ajaokuta Steel Plant.
The collaborative effort aims to establish a cutting-edge … Continue Reading
Federal Government Broadens Certificate Suspension to Uganda, Kenya and Niger Republic
In a move echoing the recent suspension of accreditation for degree certificates from Benin Republic and Togo, the Federal Government of Nigeria has announced plans to extend this sanctions to additional countries, including Uganda, Kenya and Niger Republic.
Nigeria’s education … Continue Reading
FG Allocates N350 Billion for Poverty Reduction and Consumer Loans in 2024 Budget
The Federal Government of Nigeria is allocating N350 billion in the 2024 budget towards a consumer credit fund and a national poverty reduction strategy.
The National Poverty Reduction with Growth Strategy is allocated N250 billion, emphasizing a commitment to addressing … Continue Reading
EFCC Operatives Storm Dangote’s Office Over Fishy Forex Transactions During Emefiele’s CBN Tenure
Operatives of the Economic and Financial Crimes Commission (EFCC) executed a search operation at the Dangote Group’s Lagos head office over fishy forex transactions, as reported by the Cable.
The focus of the investigation revolves around forex allocations to the … Continue Reading
Disregard Petrol Price Hike Rumours- NNPCL Tells Nigerians
The Nigerian National Petroleum Company Limited (NNPCL), on Wednesday, said that it had no plan to hike the pump price of Premium Motor Spirit, popularly called petrol.
This was contained in a statement issued by NNPCL’s Chief Corporate Communications Officer, … Continue Reading
Reno Omokri Advocates for Ban on Sports Betting Apps, Citing Economic Impact on Naira
Social media influencer Reno Omokri has urged President Bola Tinubu to consider banning sports betting apps in Nigeria.
Omokri argues that such a ban could potentially contribute to the improvement of the value of the Naira. Citing information from the … Continue Reading
Tinubu Suspends NSIPA Coordinator, Halima Shehu Amidst Financial Malfeasance Probe
In a decisive move, President Bola Tinubu has given the nod for the immediate suspension and investigation of Ms Halima Shehu, the National Coordinator and CEO of the National Social Investment Program Agency (NSIPA).
The suspension stems from allegations … Continue Reading
FG Allocates N100 Billion Consumer Credit Fund to Tackle Soaring Borrowing Amidst Rising Inflation
In response to the escalating borrowing trends and the mounting cost of living, the 2024 budget unveiled by the Nigerian government has introduced a N100 billion Consumer Credit Fund.
This strategic move is prompted by the surge in consumer credit, … Continue Reading