The newly appointed CEO of Viathan, a leading energy company, has pledged to prioritize the delivery of reliable power solutions across Nigeria. In his first public statement since taking on the role, the CEO outlined his vision for improving the country’s energy sector by addressing ongoing power supply challenges and advancing the company’s mission to support sustainable development. The CEO expressed his commitment to tackling Nigeria’s long-standing power supply issues, which have been a significant barrier to economic growth and quality of life for millions of Nigerians. He emphasized that under his leadership, Viathan would focus on expanding its capacity,…
Author: Temitope N.
A prominent terminal operator has donated solar power systems to several host communities as part of its ongoing commitment to sustainable development and corporate social responsibility. The donation aims to provide reliable, clean energy to areas that have long struggled with inconsistent power supply, helping improve the quality of life for local residents. The solar power systems, which were installed in key locations across the communities, are expected to provide a stable energy source for lighting, small businesses, and other essential services. The initiative is seen as a significant step toward addressing the energy challenges in these regions while also…
A prominent research group has called on the Federal Government to prioritize the development of new terminals and warehouses across the country to improve trade efficiency and support broader economic growth. According to the group, the lack of adequate infrastructure, particularly in logistics and storage facilities, has become a major hindrance to Nigeria’s competitiveness in international trade. The group emphasized in its latest report that expanding port terminals and constructing modern warehouses would address significant bottlenecks in the supply chain. It pointed out that the current infrastructure is often overloaded, which leads to delays and higher costs for businesses engaged…
An oil spill fire has wreaked havoc on aquatic life in several communities in Rivers State, leaving devastation in its wake. The fire, which occurred after an explosion at an illegal refining site, has spread across rivers and wetlands, severely affecting fish stocks, plant life, and the livelihoods of local residents who depend on the water for fishing and farming. Reports indicate that the fire, which lasted for several days, has caused extensive environmental damage, polluting the waterways with toxic substances and destroying habitats for various species. The fire also released harmful gases into the atmosphere, further contributing to air…
The Minister of Marine and Blue Economy, Gboyega Oyetola, has called for heightened investment in maritime surveillance and related infrastructure to bolster Nigeria’s economic and security outlook. Speaking at a recent maritime industry forum in Lagos, Oyetola emphasized the pivotal role of the maritime sector in driving economic growth and ensuring national security. Oyetola highlighted that Nigeria’s vast coastline and strategic location in the Gulf of Guinea present immense opportunities for trade and investment. However, he noted that these advantages are undermined by challenges such as piracy, smuggling, and inadequate infrastructure, which hinder the sector’s full potential. “Investing in maritime…
Nigerian bank customers have expressed support for the Central Bank of Nigeria (CBN) imposing fines on banks that fail to adequately load their Automated Teller Machines (ATMs) with cash. This follows widespread complaints about persistent ATM cash shortages, which have caused significant inconvenience to customers across the country. The issue has been particularly frustrating for those in rural and semi-urban areas, where ATMs are a primary source of cash withdrawals. Many customers have reported long queues, frequent machine outages, and limited cash availability, leaving them with no choice but to resort to expensive Point of Sale (POS) operators. “Banks have…
The Federal Airports Authority of Nigeria (FAAN) has announced its need for ₦580 billion to rehabilitate several airport runways across the country. This major project is aimed at enhancing aviation safety, ensuring compliance with international standards, and improving operational efficiency. FAAN’s Managing Director, Kabir Mohammed, highlighted the urgency of the rehabilitation during a recent stakeholders’ meeting. He stated that many of Nigeria’s runways are aging, with structural wear and tear affecting their reliability. The proposed funding will address these issues, focusing on airports in key cities such as Lagos, Abuja, Port Harcourt, and Kano. The rehabilitation plan includes resurfacing existing…
The Nigeria Customs Service (NCS) confiscated 397 vehicles in 2024 as part of its ongoing efforts to combat smuggling and enforce import regulations. The Comptroller General of Customs (CGC), Adewale Adeniyi, disclosed this during a year-end review, highlighting the agency’s commitment to protecting the nation’s economy and revenue base. The seized vehicles, valued at billions of naira, were intercepted across various regions during anti-smuggling operations. Adeniyi explained that the vehicles were smuggled into the country without proper documentation or payment of required duties, violating customs laws. “Our officers have intensified border patrols and surveillance, which has led to the interception…
The commencement of petrol production at the Dangote Refinery in Nigeria is beginning to reshape global energy dynamics, with significant effects on European fuel markets, according to a recent OPEC report. The refinery, touted as Africa’s largest, has increased regional fuel supply, reducing the continent’s dependence on imported refined petroleum products from Europe. The Dangote Refinery, with a capacity to process 650,000 barrels of crude oil daily, has already begun altering trade flows by meeting domestic demand and exporting refined products to neighboring African countries. This development has led to a decline in demand for European petrol exports to Africa,…
The Central Bank of Nigeria (CBN) is expected to keep the Monetary Policy Rate (MPR) unchanged for most of 2025, as it continues to focus on managing inflationary pressures and ensuring economic stability. Analysts predict that the CBN will adopt a cautious approach to interest rates, given ongoing concerns about inflation, exchange rate stability, and the need to stimulate sustainable growth. The MPR, which serves as the benchmark interest rate for the country, has seen a series of hikes in recent years, as the CBN works to combat inflation and stabilize the naira. However, despite these efforts, inflation remains persistently…