Telecoms services coming back to N/East, masts rising
Communications respite will soon come the way of residents in the troubled North East following the dislodging of insurgents by the Nigerian forces. The development is therefore encouraging several telecoms tower operators to commence the rebuilding of destroyed towers and…
50 companies owe banks N5.23tn—CBN Report
Central Bank of Nigeria’s (CBN) Financial System Stability (FSS) report weekend revealed that about 50 corporate customers owe commercial banks the sum of N5.23tn, representing 33.4 per cent of the total private sector credit exposure of N15.68tn. The new report…
9 power plants down, generation drops to 3,403MW
At a time the economy is passing through recession, details emerged yesterday that two of the nation’s power plants were shut down. This raises the number of idle plants to 9. The affected plants were Olorunsogo II in Ogun State…
80% mobile data usage in 5 years possible—Omoniyi
Managing director and chief executive officer of VDT Communications, Mr. Biodun Omoniyi has said that there would be 80% mobile data subscription growth in the next five years. He made the projection during a presentation at special reception organised by…
Current reserves can only sustain production for 35 years, if—NNPC
The Nigerian national Petroleum Corporation (NNPC) has revealed that the reserve base of hydrocarbon from which oil is explored has to be upped to match national aspirations to increase oil production. While explaining the reasons why the oil reserves of…
Ngige to unveil Yudala’s YUBOSS scheme in Abuja
Details have emerged that beyond musical development and entertainment, new digital sensation, Yudala has begun plans to invest in youth development in the area of entrepreneurial skills. This is coming as the Minister of Labour and Productivity, Senator Chris Ngige…
Anxiety as Intels sacks 300, may ease 1,700 before year end
Leading maritime logistics servicing group, Integrated Logistics Service Limited (INTELS), Nigeria’s foremost oil and gas logistics service provider may have sacked about 300 Nigerian workers and over 20 expatriates members of staff last month. Before the latest mass sack, about…
CBN yet to publish 2015 financial statements—Findings
A recent survey has revealed that the Central Bank of Nigeria (CBN) is yet to make public, its financial activities for the year 2015. Navigations at the group’s website weekend only showed the presence of 2014 report. Pundits say, as…
Mini-grids for power firms coming—NERC
A new Draft Mini-Grid Regulation 2016 empowering electricity distribution companies to use mini-grids as a bridge technology to accelerate their electrification activities has been penciled down for takeoff as soon as possible. This according to the Nigeria Electricity Regulatory Commission…
Over regulation killing MSMEs in Nigeria
More facts are still emerging on why Macro Scale & Medium Enterprises (MSMEs) are not growing in Nigeria upon the claims of the government on funding and facilitation/ Several surveys on entrepreneurial activities in Nigeria indicate that most the subsector…
