Ogun State has achieved a significant milestone in its quest for energy autonomy by obtaining an electricity regulatory oversight license. This development positions the state to play a more active role in managing its power supply and distribution, addressing long-standing energy challenges that have hindered economic growth and industrialization. The license, granted by the Nigerian Electricity Regulatory Commission (NERC), empowers Ogun State to oversee electricity operations within its jurisdiction. This includes regulating power generation, distribution, and ensuring compliance with industry standards. The move is part of a broader federal initiative to decentralize energy management and promote regional solutions to Nigeria’s…
Author: Temitope N.
Sterling Financial Holdings Company (Sterling Holdco) has projected gross earnings of N121.8 billion for the fiscal year, underscoring its robust growth trajectory and diversified business model. The forecast reflects the group’s confidence in leveraging its strategic initiatives and market opportunities to deliver solid financial performance. The projection aligns with Sterling Holdco’s recent restructuring, which transformed the organization into a holdings company overseeing a range of subsidiaries. These subsidiaries span sectors including banking, healthcare, agriculture, and energy, allowing the group to mitigate risks and capitalize on multiple revenue streams. A spokesperson for Sterling Holdco highlighted the company’s focus on innovation and…
Haldane McCall, a leading real estate development company, has announced a remarkable achievement in the Nigerian property market, generating N2.5 billion through the sale of housing units. This milestone underscores the growing demand for quality and affordable housing solutions in the country and highlights the company’s pivotal role in addressing the housing deficit. The success stems from a combination of well-planned residential projects and strategic marketing efforts. Haldane McCall’s portfolio includes a range of housing options designed to cater to diverse income levels, from luxury apartments to budget-friendly units. By maintaining high construction standards and offering flexible payment plans, the…
KFC Nigeria is spreading holiday cheer with the unveiling of its latest offering: a special festive meal designed to bring families and friends together during the season of celebration. This limited-time menu promises to deliver the signature flavors KFC is known for, with a seasonal twist to delight its customers. The festive meal features an array of options that cater to both traditional and adventurous palates. Highlights include KFC’s iconic crispy fried chicken, complemented by specially crafted sides and sauces inspired by local Nigerian flavors. The meal is designed to offer a satisfying combination of taste and value, making it…
This year marks a significant milestone for Citibank as it commemorates 40 years of service. Since its establishment, the institution has played a pivotal role in shaping the global banking landscape, offering innovative financial solutions and fostering economic growth. Citibank began its journey with a vision to provide world-class banking services, and over the decades, it has expanded its reach to become a key player in the global financial sector. From pioneering digital banking solutions to supporting businesses and individuals through complex financial markets, Citibank has consistently adapted to the evolving needs of its customers. The bank’s leadership attributes its…
Thousands of passengers have flooded bus parks in Abuja and Lagos following the announcement of reduced transportation fares by the administration of President Bola Tinubu. The initiative, aimed at alleviating the financial burden on commuters, has been met with widespread enthusiasm, as many Nigerians struggle with the rising cost of living. The fare reduction is part of the government’s broader strategy to ease transportation costs and provide relief to citizens amid ongoing economic challenges. By slashing fares on intercity and interstate routes, the government hopes to make transportation more affordable and accessible to the general public. At major bus parks…
The Federal Government of Nigeria has earmarked N8.73 billion for the development and upgrade of power infrastructure at the country’s airports in 2024. This investment is part of the government’s ongoing efforts to enhance airport facilities and improve overall passenger experience. The allocation is set to address critical power supply issues, which have long been a challenge at various Nigerian airports. This funding will be used to upgrade existing power systems, ensure more reliable electricity supply, and introduce sustainable energy solutions, including the integration of renewable energy sources. Airport officials highlighted that the move is expected to enhance operational efficiency,…
The Nigerian National Petroleum Company Limited (NNPCL) has inaugurated a state-of-the-art command centre designed to enhance oil and gas production across the country. The new facility aims to improve operational efficiency, streamline decision-making processes, and optimize production monitoring and management in real time. The command centre is equipped with cutting-edge technology, including advanced data analytics tools and communication systems, to enable better management of oil and gas assets. It will allow NNPCL to monitor operations across various oil fields and facilities, ensuring that any challenges or inefficiencies are quickly identified and addressed. NNPCL officials emphasized that the command centre will…
Women are increasingly making their mark in the maritime sector, historically dominated by men, and are playing a pivotal role in reshaping the industry. With growing representation in various maritime domains, from shipping and logistics to port operations and maritime safety, women are driving innovation, advocating for inclusivity, and demonstrating leadership in an evolving sector. In recent years, there has been a notable shift in the number of women pursuing careers in maritime, with many breaking barriers and setting new standards. Women are now occupying key positions in maritime organizations, influencing strategic decisions, and contributing to policy development. Their involvement…
Telecommunications companies in Nigeria have expressed optimism about President Bola Tinubu’s economic reforms, anticipating significant relief from the longstanding issue of multiple taxation in the sector. The telcos are hopeful that the administration’s drive for regulatory efficiency and ease of doing business will address the tax burdens that have hindered industry growth. Industry stakeholders have consistently decried the heavy tax obligations imposed by various levels of government, which they argue stifle innovation and lead to higher costs for consumers. According to telecom operators, the proliferation of taxes—ranging from statutory levies to arbitrary charges—has been a major impediment to infrastructure expansion…