Business

ELECTRICITY UNION, OTHERS SEEK REVERSAL OF POWER, WATER SECTORS PRIVATISATION The National Union of Electricity Employees, NUEE, and the Amalgamated Union of Public Corporation, Civil Service Technical and Recreational Services Employees, AUPCTRE, have called on the Federal Government to urgently revoke the privatisation licences granted in the power and water sectors. In a joint statement, the unions declared: “We as …

TINUBU APPOINTS 39 YEAR OLD CHAIRMAN/CEO OF NERC, TWO NEW COMMISSIONERS FOR NERC President Bola Tinubu has nominated Abdullahi Garba Ramat as the new Chairman/Chief Executive Officer of the Nigerian Electricity Regulatory Commission (NERC). Mr Ramat, 39, is an electrical engineer and administrator, with a PhD in Strategic Management, among other qualifications. President Tinubu also nominated two commissioners for the …

TOP 10 MOST INDEBTED STATES IN NIGERIA AS OF Q1 2025Despite a marginal 4.89% year-on-year (YoY) decline in total subnational debt, Nigeria’s 10 most indebted states saw their combined debt rise by 2.49% YoY in Q1 2025, reaching N2.48 trillion, up from N2.42 trillion in Q1 2024. The debts of these states combined now account for 64.05% of the country’s …

ABUJA OVERTAKES LAGOS AS FOREIGN INVESTMENT DESTINATION The Federal Capital Territory (FCT) has emerged as the top destination for foreign investment into Nigeria, according to a report by the National Bureau of Statistics (NBS). The report titled Nigeria Capital importation, Q1 2025, said the FCT attracted $3.04bn to come first from the $2.54bn Lagos attracted during the period. Daily Trust …

TINUBU’S HARSH ECONOMIC POLICIES WIPED OUT MIDDLE CLASS — FALANA Falana noted that despite the President recently acknowledging the economic hardship faced by citizens, his policies have further deepened poverty. Human rights lawyer, Femi Falana, has criticised President Bola Tinubu’s economic reforms, stating that the administration’s “harsh neoliberal policies” have decimated Nigeria’s middle class and worsened living conditions for millions …

FUEL PRICE NEARS N1,000 PER LITRE AS MARKETERS, RETAILERS TRADE BLAME Petroleum product marketers and retailers are trading blame as the premium motor spirit pump price nears N1,000 per litre in Nigeria. On Monday,, the Nigerian National Petroleum Company Limited retail outlets across the country increased fuel prices. In Abuja, Nasarawa, and Kogi states, the NNPCL petrol pump price jumped …

BAYO OJULARI’S DAYS ARE NUMBERED As NNPC GMD – THE CABLE The days of Bashir Bayo Ojulari as the group CEO of the Nigerian National Petroleum Corporation (NNPC) Limited are numbered, TheCable has been informed. Although there are reports that he has resigned, TheCable learnt from insiders that he has not thrown in the towel yet, “but only a miracle …

BAUCHI STATE GOVT WOOS IGBO INVESTORS, ORGANISES ENUGU ROADSHOW The Bauchi state Governor, Sen. Bala Mohammed, has urged the South-East businessmen to take advantage of the abundant natural resources and conducive business environment and invest in his state. The governor stated that his administration had in the last six years implemented a programme of action that had improved the stock …

INSIDE STORY OF THE EXTRAVAGANT LIFESTYLE THAT LANDED THE NNPCL BOSS, OJULARI, INTO TROUBLE The over five kilometers distance between Aso rock – the Nigeria’s seat of power – and the Towers – the global headquaters of the Nigerian National Petroleum Company Limited (NNPCL) – figuratively betrayed the law of proximity on Saturday, August 2. That day, many men of …

MTN, AIRTEL USERS SPENT ₦2.5TR ON CALLS, DATA IN SIX MONTHS Subscribers on MTN and Airtel networks spent a total of N2.53tn on voice and data services in the first half of 2025, representing a 50.9 per cent increase from the N1.68tn recorded in the corresponding period of 2024. This is according to an analysis of the half-year 2025 results …