Author: Akintayo Adams

The Abuja Chamber of Commerce and Industry (ACCI) in a release said the recent increase in electricity tariffs will stifle small-scale businesses and other enterprises in Nigeria. Recall that the Nigerian Electricity Regulatory Commission, NERC, approved a tariff increase for Band A customers getting at least 20 hours of power supply barely a week ago. ACCI’s president, Emeka Obegolu, in his reaction in an interview with NAN, said the hike would significantly have an effect on businesses across all sectors of the economy. “The ease of doing business is critical for fostering economic growth, attracting investments, and creating job opportunities.…

One-time Governor of Oyo State & the Otun Olubadan of Ibadanland, Senator Rasidi Adewolu Ladoja, and other High Chiefs who have been promoted to the status of Obas have been issued a six-day ultimatum to resolve the brewing crisis among them so as to make way for Ọba Olakulehin to ascend the throne. This was disclosed at the end of a meeting held with High Chief Rashidi Adewolu Ladoja and the High Chiefs turned Obas at the Iwo Road residence of a former President of the Central Council of Ibadan Indigenes, CCII & Asiwaju of Ibadanland Chief Bode Amao. The…

The Government of Lagos State through the Lagos State Consumer Protection Agency has ordered supermarkets and grocery stores in the state to display prices on their products or risk being fined or shut down. This was contained in a statement on the official website of the Lagos State Government on Saturday. “The Lagos State Consumer Protection Agency has issued a stern warning to supermarkets and grocery stores within the state regarding the non-disclosure of price tags on products,” the statement partly read. “LASCOPA’s warning aims to ensure transparency and protect consumers from potential price exploitation as non-disclosure of price tags…

Sequel to the recent increase in electricity tariff for Band A customers, the Nigerian Electricity Regulatory Commission has directed power distribution companies across each zones to refund all Band B customers that were charged erroneously by April 11. The directive became necessary following complaints from customers not on Band A, who are now being made to pay ₦225/KWh for electricity. Due to the announcement by the Government on the increase, DisCos upgraded their payment platforms and some customers on Band B, C, D, and E said they were made to pay ₦225/KWh instead of the old tariff as stipulated. “All…

The Nigeria Customs Service, Apapa through its Area Command Public Relations Officer, Abubakar Usman, said it raised ₦489bn as revenue for the first quarter of 2024. This was disclosed in a statement on Saturday in which Usman said the figure represents more than 100 per cent increase when compared with ₦213bn the command collected during the same timeframe in 2023. Speaking, the command’s Customs Area Comptroller, Babajide Jaiyeoba, lauded the officers and stakeholders for their joint efforts in attaining the feat. He, however doesn’t want to rest on the feat, and has called for sustained adherence by government and private…

The Ibadan Electricity Distribution Company has downgraded some Band A feeders to B, C D or E. About 28 feeders under the Ibadan Electricity Distributing Company were downgraded in the states of Oyo, Ogun, Kwara and Osun. Judging by the list, some areas dropped from 20 hours of daily power supply to less than an hour. The Federal Government had earlier disclosed that it would no longer pay subsidy on electricity consumed by Band A customers, saying others would continue to pay the old rates. The decision led to an increase will see the Band A customers pay ₦225 kilowatt…

Senegal’s President Bassirou Diomaye Faye named what he termed a “breakaway” government on Friday, appointing scores of new faces to top roles following his swearing-in some days ago. The 44-year-old, who has never before held elected office, swept to a first-round victory in last month’s presidential election in Senegal, and carries the burden of millons of Senegalese, especially Youths on his shoulders. Unveiling the 25-man cabinet on Friday was Faye’s appointed prime minister and former mentor Ousmane Sonko, who helped quicken the political newcomer’s rise to power. “The government set up here on April 5 is a breakaway government… that…

Governor of Osun State, Ademola Adeleke has met with the management of Ibadan Electricity Distribution Company (IBEDC) over the lingering poor supply of electricity to the people of Osun. The Governor revealed this in a post via his X handle, in which he revealed that the complaints of the citizens of his state necessitated the meeting, and he has further invited the team to come to Osun for further dialogue and action. “While in Ibadan for a private engagement, I convened a meeting with the Managing Director of @IBEDC_NG due to numerous complaints regarding the worsening power supply situation across…

Resumption of plenary sessions initially slated for Tuesday, April 16, has been moved to Tuesday, April 23, 2024 by the Godswill Akpabio-led Senate of the Federal Republic of Nigeria. According to the lawmakers, the postponment was needed to ensure the completion of renovations on the main chambers of both the Senate and the House of Representatives in readiness for plenary sessions. This was conveyed in a message sent to senators that read, “Distinguished Senators are hereby invited to note that the resumption of the plenary sitting of the Senate, which was scheduled for Tuesday, April 17, 2024 has been postponed to…

The Central Bank of Nigeria (CBN), on Friday, announced a reduction in the exchange rate for computing import duty at the nation’s seaports by 5.3 per cent. The reduction is coming barely 48 hours after importers and clearing agents operating at the nation’s seaports complained that the Customs exchange rate rises higher than official foreign exchange market rate of the naira and the United States Dollar which is being used for international trade. Former acting President, Association of Nigerian Licenced Customs Agents (ANLCA), Dr Kayode Farinto, had earlier bemoaned the fact that the unstable exchange rate is not beneficial to…