Business

ONE YEAR AFTER, PETER OBI’S WARNING COMES TRUE AS US, RUSSIA DITCH NIGERIAN PORTS FOR TOGO Over a year after presidential candidate of the Labour Party in 2023 election, Peter Obi raised concerns about Nigeria’s chaotic port charges and inconsistent trade policies, his warning appears to be materialising, as major global powers are now bypassing Nigerian ports in favour of …

WE’RE NOT SELLING PORT HARCOURT REFINERY – NNPCL ‎‎The Nigerian National Petroleum Company Limited has officially ruled out the sale of the Port Harcourt Refining Company, reaffirming its commitment to completing high-grade rehabilitation and retention of the plant. ‎Group Chief Executive Officer of NNPC Ltd, Bayo Ojulari, made the announcement during a company-wide town hall meeting at the NNPC Towers …

ENUGU TARIFF CUT EXPOSES GAP IN NATIONAL ENERGY – EXPERT The Convener of PowerUp Nigeria, a consumer rights advocacy group, Adetayo Adegbemle, has described the ongoing controversy surrounding the recent electricity tariff reduction announced by the Enugu State Electricity Regulatory Commission (EERC) as a deeper policy gap in Nigeria’s power sector planning. He specifically said that the absence of a …

FG MAY SELL 11 DISCOS TO NEW INVESTORS The Federal Government may sell the 11 power distribution companies through a re-privatisation process if the Electricity Act (Amendment) Bill, 2025, currently before the National Assembly, becomes law. The National Assembly has already initiated a legislative process to enforce sweeping reforms that could see core investors in electricity distribution companies lose their …

FG BARS MDAS FROM DOLLLAR-DENOMINATED CONTRACTS The Federal Government has directed all Ministries, Departments, and Agencies to desist from entering into contracts denominated in foreign currency, as part of new fiscal control measures outlined in the 2025 Appropriation Act Implementation Guideline. According to the document, all MDAs are to ensure that their contracts are wholly denominated in Naira. It states …

WHY ENUGU REGULATOR IS A SPARK OF LIGHT IN NIGERIA’S DARKNESS At a time when electricity tariffs across Nigeria are testing the limits of household and business survival, the southeastern state of Enugu has done what few thought possible: cut prices. In early July, Enugu slashed the tariff for its highest-band power consumers by nearly 23 percent, a decision that …

DANGOTE PRESSES TINUBU FOR BAN ON IMPORTATION OF REFINED FUEL: MARKETERS KICK The President of the Dangote Group, Alhaji Aliko Dangote, has asked President Bola Tinubu to include refined petroleum products in the list of items banned under the ‘Nigeria First’ policy of the Federal Government. But this was unanimously rejected by oil marketers and some industry analysts on Sunday. …

ALIKO DANGOTE RETIRES FROM DANGOTE CEMENT PLC Foremost entrepreneur and founder of Dangote Cement Plc, Aliko Dangote has announced his retirement as a Director and the Chairman of the Board of Directors, effective July 25, 2025. He is relinquishing his position as chairman and retiring from the board so as to focus more attention on the Refinery, Petrochemicals, Fertiliser and …

EKO DISCO ANNOUNCES 25-DAY BLACKOUT IN LAGOS Eko Electricity Distribution Company has announced a 25-day blackout in parts of Lagos State. Eko DisCo disclosed this in a notice to customers on Friday posted on its X account. According to EKEDC, the blackout would commence on 28th July and last until August 21st, 2025, between 8am and 5pm daily. The Disco …

STATES HAVE NO JURISDICTION TO DEVIATE FROM TARIFFS – NERC WARNS The Nigerian Electricity Regulatory Commission (NERC) has issued a stern warning to state electricity regulators, declaring that states do not possess the jurisdiction to unilaterally deviate from federally-determined electricity tariffs when importing power from the national grid. The statement follows a controversial tariff order issued by the Enugu State …