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Obasanjo commends Nigerian initiatives at Ecobank expo

28.11.2024
Former President Olusegun Obasanjo has reiterated Nigeria’s vast potential and called on leaders to leverage the country’s resources to position it as a global leader. Obasanjo, who spoke on Tuesday at the ongoing Ecobank Design and Build Expo at the Ecobank Pan African Centre in Lagos, commended the bank for organising an event that brought...
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Nigeria eyes 14,000MW of electricity from hydro

28.11.2024
The Federal Government says Nigeria has enough water resources to generate 14,000 megawatts of electricity. This was as the Minister of Power, Adebayo Adelabu, and his Water Resources and Sanitation counterpart, Joseph Utsev, signed a memorandum of understanding towards sustainable development. The Memorandum of Understanding was for implementing the World Bank Sustainable Power and Irrigation...
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Govt’s debt to Egbin Power hits N1.6tn, Senate intervenes

28.11.2024
The Senate Committee on Privatisation has pledged to address the N1.6tn debt owed to Egbin Power Plc by the Federal Government. Egbin Power is one of Nigeria’s largest power generation companies. The PUNCH recalls that in March, Chief Executive Officer of Egbin Power Plc, Mokhtar Bounour, told our correspondent that the Federal Government was owing...
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Reps to probe N8.4tn allegedly withheld by NNPCL

28.11.2024
The House of Representatives on Wednesday asked its Committees on Finance, Petroleum (Upstream and Downstream) to investigate reports from the Revenue Mobilisation Allocation and Fiscal Responsibility Commission “alleging that the NNPC (now Nigerian National Petroleum Company Limited) withheld N8.48tn as claimed subsidies for petrol.” The House further stated that “the investigation will address the NEITI...
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Equity market reverses gain with N208bn loss

28.11.2024
The Nigerian Exchange closed bearish on Wednesday, as the equity market shed N208bn in market capitalisation. At the end of the day’s trading session, the market capitalization stood at N59tn. At the same time, the All-Share Index dropped by 343.31 points, representing a 0.35 per cent decline to close at 97,296.57 points. This downturn marked...
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FG spends N8.8bn to repair vandalised power towers – TCN

28.11.2024
The Federal Government has confirmed that it spent a total sum of N8.8bn for the repair and restoration of transmission towers that were vandalised across various regions of the country in 2024. The Managing Director and Chief Executive Officer of the Transition Company of Nigeria, Ahmed Abdulaziz, revealed this at the Quarterly Power Sector Working...
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Group to empower Ogun SMEs with N45m

28.11.2024
The City Boy Movement in Ogun State has announced plans to empower small and medium enterprises with N45m during its maiden Annual Youth Summit, which will take place on December 21, 2024. According to a statement, the event, which will take place at the June 12 Cultural Center in Abeokuta, aims to foster youth entrepreneurship...
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40% of containers in Nigeria not seaworthy – Analysts

28.11.2024
The Head of Research at Sea Empowerment and Research Centre RGT, Dr Eugene Nweke, has stated that 40 per cent of containers operating within Nigeria’s shipping and port sector are either unsafe or in poor condition. Speaking exclusively with The PUNCH in Lagos, Nweke, a former President of the National Association of Government Approved Freight...
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Water sports fair to host 1,500 exhibitors

28.11.2024
The world’s leading water sports trade fair, BOOT Düsseldorf 2025, is set to host more than 1,500 exhibitors from over 100 countries during its nine-day exhibition billed to take place from January 18 to 26, 2025 in Düsseldorf, Germany. The organisers said in a statement that the global showcase is renowned for its unparalleled breadth,...
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I apologise for saying no heaven without tithe – Adeboye

04.10.2024
The General Overseer of the Redeemed Christian Church of God, Pastor Enoch Adeboye, has apologised for saying that Christians who don’t pay tithe might not make it to heaven. Adeboye who had previously said that paying tithe was one of the prerequisites for going to heaven, apologised for the comment while addressing his congregation Thursday...

Protesters storm Rivers electoral commission, insist election must hold

04.10.2024
Angry protesters on Friday stormed the office of the Rivers State Independent Electoral Commission, singing and chanting ‘Election must hold’. They defied the heavy rainfall spreading canopies, while singing and drumming, with one side of the road blocked. The protest came after the Rivers State governor stormed the RSIEC in the early hours of Friday...

Man who asked Tinubu to resign admitted in psychiatric hospital

04.10.2024
The Adamawa State Police Command has disclosed that the 30-year-old Abdullahi Mohammed who climbed a 33 kv high tension electricity pole in Mayo-Belwa last Friday has been admitted at the Yola Psychiatric hospital for mental examination. The Police Public Relations Officer of the command SP Suleiman Nguroje, told Arewa PUNCH on Friday in an exclusive...

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