No Plan for Foreign Military Base Establishment – FG The Federal Government says it has not received any proposal for the establishment of a foreign military base in the country. Alhaji Mohammed Idris, the Minister of Information and National Orientation made this known in a statement in Abuja. He said an alarm raised in some […]

Oil Bid Round: FG Assures Conducive Investment Environment for Investors The Nigerian Upstream Petroleum Regulatory Commission (NUPRC) has pledged the country’s commitment to break all entry barriers for would-be investors. Mr Gbenga Komolafe, Commission Chief Executive, NUPRC, gave the assurance during the opening of the Nigerian Pavilion at the Offshore Technology Conference (OTC) on Monday […]

Oil Climbs as Saudi Hikes Price for Asia, Europe Oil prices climbed early on Monday as market reacted to unsuccessful cease-fire attempts in Gaza amidst uncertainties over the timing of the US Federal Reserve’s (Fed) decision on interest rates. Also, Saudi Arabia’s agreed to increase crude oil sale prices, International benchmark Brent crude traded at […]

Project Monitoring, Evaluation Key to Successful Outcomes – Cardoso The Governor of the Central Bank of Nigeria (CBN), says monitoring and evaluation of development projects is crucial to the overall success of such projects. Cardoso said this on Monday in Abuja at the opening of a regional workshop on project management, monitoring and evaluation organised […]

IBEDC Reviews Tariff from N225/Kwh to N206.80/Kwh for Band A Customers The Ibadan Electricity Distribution Company (IBEDC) has begun the implementation of a downward review of tariff from N225/Kwh to N206.80/Kwh for band A customers in its coverage territory. This review followed the directive by the Nigerian Electricity Regulatory Commission (NERC) to discos reviewing downward […]

Google Partners African Union to Launch #DiscoverMyAfrica The Office of the African Union Chairperson’s Youth Envoy and Google announced on Monday the launch of the #DiscoverMyAfrica Shorts Challenge. It is a month-long initiative to celebrate the rich diversity, heritage, and vibrant spirit of the African continent. Chido Mpemba, African Union Chairperson’s Youth Envoy, said in […]

Japan Unveils 6G Device, 500 Faster than 5G A group of Japanese companies — DOCOMO, NTT, NEC and Fujitsu have unveiled one of the world’s first high-speed 6G wireless devices. The device can transmit data at 100 gigabits per second (Gbps), at distances up to 330 feet (100 meters). Japan wants to become the leading […]

Stakeholders Urge Increase in Productivity, Reduced Importation as Naira loses Steam As the Naira begins to depreciate again after a few weeks of strengthening, some stakeholders have advised the Federal Government to adopt more organic policies to strengthen the currency. The policy, coupled with the prevailing dollar illiquidity had seen the Naira exchanging for as […]

Reforms: Fitch Revises Nigeria’s Outlook to Positive Fitch Ratings has revised the outlook on Nigeria’s creditworthiness to positive from stable, and affirmed the sovereign rating at ‘B-‘.The revision of the Outlook reflects fresh assessment of the country’s key ratings drivers. According to Fitch, Nigeria’s positive outlook partly reflects reforms over the last year to support […]

Fitch Revises Egypt’s Outlook to Positive as ‘Macros’ Improve Fitch Ratings has revised the Outlook on Egypt’s Long-Term Foreign-Currency (LTFC) Issuer Default Rating (IDR) to Positive from Stable, and affirmed the IDR at ‘B-‘. According to the rating note, the sovereign near-term external financing risks have markedly reduced due to the Ras El-Hekma deal with […]