The Nigerian Exchange Group has indicated plans to raise about N10bn in additional capital via a rights issue. In a notice of Annual General Meeting, the group, which houses the premier exchange in Nigeria said the proposal was subject to…
Some communities in Abuja, Lagos and Nasarawa are currently experiencing power outages due to technical glitches. The Ikeja Electricity Distribution Company on Tuesday said the service disruption was due to significant load restrictions across many of its transmission load centres.…
The naira, on Wednesday continued its gain against the United States dollars, appreciating both at the official foreign exchange and parallel markets, to the delight of many Nigerians. At the Nigerian Autonomous Foreign Exchange Market, the naira gained N16 or…
The Eko Electricity Distribution Company said it would meter up to 600,000 customers in the next five years. In a statement on Tuesday, the EKEDC said it was committed to bridging the metering gap by 2028, with a plan to…
The National Automotive Design and Development Council said it will collaborate with Oando Clean Energy on vehicle electrification. Nigeria’s automobile regulator disclosed this information in a statement on its LinkedIn account. The NADDC noted that the partnership would be a…
The University College Hospital, Ibadan, Oyo State, has admitted that it owes the Ibadan Electricity Distribution Company up to N495m, for which reason the teaching hospital was disconnected from public power supply. This was as doctors, nurses, and other staff…
For the fourth consecutive year, Françoise Bettencourt Meyers, heiress to the L’Oréal fortune, holds the title of the world’s richest woman in 2024. Meyers experienced a significant increase in her fortune over the past 12 months, with her net worth…
Forbes has listed Nigerian businessmen, Aliko Dangote, Mike Adenuga, Abdulsamad Rabiu and Femi Otedola, as the top richest Nigerians in 2024. This comes as the combined wealth of Nigeria’s top three richest businessmen dropped slightly by 11.23 per cent to…
Over 40 million lines have been disconnected since the expiration of the February 28 deadline set by the Nigerian Communications Commission for the linkage of NINs to SIMs. However, long queues at the enrolment centres, telco agents not gathering all…
Plans are underway to position Nigeria as a major player in the vehicle manufacturing industry, according to the Minister of Industry, Trade and Investment, Doris Uzoka-Anite. The minister stated this on Friday while launching the Nigeria Automotive Industry Development Plan…
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