The regulator definitely is concerned about any increase in tariff. Such increase must be strictly justified. The regulator has developed a comprehensive methodology for the pricing of electricity for the entire value-chain. This methodology is […]
RECENT events have exposed the morbid predilection of the government and the private power sector operators for an incessant electricity tariff increase over and above the need to have consumers properly metered to ensure that […]
Oil firms have put major projects in West Africa on hold because of low prices – as they have across the globe – but when the market finally picks up, development is likely to recover […]
Five oil exporting countries, including Nigeria, Angola, Venezuela, Azerbaijan, and Russia are mostly affected by falling currency value, Organisation of Petroleum Exporting Countries (OPEC) has said. OPEC, in a paper detailing the impacts of recession […]
Governor Ayodele Fayose of Ekiti State has raised the alarm over the imminent collapse of the county’s economy, saying the President Muhammadu Buhari led All Progressives Congress (APC) government was yet to show any sign […]
The Senate yesterday told the Nigerian Electricity Regulatory Commission (NERC) to stop the 45 per cent tariff increase being implemented by electricity distribution companies. This followed a deadlock in discussions between the Senate leadership on […]
Moving early in the oil sector while prices are low could pay off. But it’s not for the faint of heart, according to Norway’s largest bank. While low oil prices are making investors and companies […]
A former Group Managing Director of the Nigerian National Petroleum Corporation, Mr. Austin Oniwon, confirmed on Tuesday that there was no formal contract between the NNPC and trading companies that lifted $24bn worth of crude […]
The strike action embarked upon by the Association of Master Bakers and Caterers of Nigeria (AMBCN) and Arewa Master Bakers Forum last week caused bread to disappear from the shelves in several urban centres. The […]
Volkswagen AG’s diesel-emissions cheating scandal weighed on the German carmaker’s European market share for a fifth consecutive month as deliveries dropped in its home country and the U.K. Registrations in the region by VW’s namesake […]
Chinese banks have started the New Year with some familiar bad habits. The country’s lenders dished out a hefty 2.5 trillion yuan ($385 billion) in new loans in January as the central bank pumped cash […]
Egypt relaxed restrictions on foreign exchange bank deposits in an effort to boost exports after the local currency weakened to a record in black market trading. As a dollar shortage intensifies, the central bank raised […]
The ongoing debate over the fiscal budget proposed to the National Assembly by President Muhammadu Buhari has, once again, reminded us of how serious corruption and impunity have eaten deep into the soul of the […]
It is probably just as well that the National Assembly has suspended discussion and deliberation on President Muhammadu Buhari’s budget proposals for fiscal 2016. There is simply no way to move forward on a document […]
…according to the data, we do not have an import problem… However, we do have an export problem, highlighted by the fact that crude oil accounts for 90% of our recorded exports and crude oil […]
Last week’s standoff between the electricity distribution companies and the Organised Labour over tariff hike has, in a manner of speaking, exhumed a corpse which both parties have suffered the illusion of laying to rest […]
MORE than five years after its establishment, the Asset Management Corporation of Nigeria appears to have lost its focus. While similar institutions elsewhere have fulfilled or are fulfilling their mandates, ours appears helpless to recover […]
Nigerian President Muhammadu Buhari’s 2016 budget proposals are riddled with errors and provisions that may undermine his anti-graft war, civic groups say. In some instances, the same purchase of vehicles, computers and furniture are replicated […]
Oil prices surged to their highest levels in more than a week as news of a meeting of top officials from the world’s biggest oil producers spurred speculation of an eventual deal to tackle a […]
“It should thus be avoided immediately before it gains ground within the corridors of power. It is a kite the congress and the generality of workers will not want to see fly in this circumstance. […]
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