Africa’s richest billionaire Aliko Dangote loses US$700 million in 10 days.

Africa’s richest billionaire Aliko Dangote loses US$700 million in 10 days. And owing to this heavy loss, there has been a significant drop in the company’s share price on the Nigerian Exchange. According to data obtained by billionaires.africa, the leading industrialist, who was ranked as the 61st richest man in the world according to Bloomberg … Read more

The Cameroon government plans to Legalize Cryptocurrency

Cryptocurrencies have grown to be legalized and accepted in many countries out there. The Cameroon government plans to legalize Cryptocurrency as an alternative online payment method. Senior officials of the Ministry of Post and Telecommunications discussed “cryptocurrency Challenges, opportunities, and risks in Cameroon” in a workshop in Yaoundé on November 15. Discussions were chaired by … Read more

Why prepaid meters are costly ― Mojec

By Prince Okafor With over 10 million households in Nigeria yet to be provided with electricity meter, the Federal government has commenced the National Mass Metering Programme (NMMP) in partnership with the eleven Electricity Distribution Companies, DISCO, Mojec International Limited, along with other metering manufacturing companies in the country. The NMMP is to roll out … Read more

Nigeria can earn $1bn from leather by 2025 — NEPC

A map of Nigeria By Princewill Ekwujuru The Nigeria Export Promotion Council (NEPC) has said that the leather industry could generate $1bilion for Nigeria by 2025. The Chief Executive Officer of NEPC, Mr Segun Awolowo, who disclosed this at the virtual summit with the theme: “Towards a Sustainable Leather Processing Industry in Nigeria: Kano Tannery, … Read more

FG’s VAT revenue on steady rise despite COVID-19, lockdown

tax By Elizabeth Adegbesan The Federal Government generated N424.7 billion as Value Added Tax (VAT) in the third quarter of the year (Q3’20). This represents a rise of 30 percent in VAT revenue when compared to N275.12 billion in Q2’20. The National Bureau of Statistics, NBS, VAT Report for Q3’20 released yesterday also indicated that … Read more

Electricity: 59.6% of consumers still on estimated billing — NERC

By Prince Okafor The Nigerian Electricity Regulatory Commission (NERC) has disclosed that 59.6 per cent of electricity consumers in the country were still on estimated billing as at March 2020. NERC made this known in its ‘First Quarter 2020 Report’ which was obtained by our correspondent in Lagos. The regulatory agency said the huge metering … Read more

Nigeria loses N343bn as oil firms burn 265bcf of gas in 9 months

By Michael Eboh Despite Nigeria’s struggle with declining revenue, poor power supply and environmental degradation, oil and gas firms operating in the country flared 265.18 billion standard cubic feet, bcf, of gas between January and September 2020. This, however, represented a decline of 23.6 per cent compared to 347.15 bc of gas flared in the … Read more

FG, DISCOs, Mojec, others move to cut metering gap by 66.7%

•Why prepaid meters are costly – Mojec By Prince Okafor With over 10 million households in Nigeria yet to be provided with electricity meter, the Federal government has commenced the National Mass Metering Programme (NMMP) in partnership with the eleven Electricity Distribution Companies, DISCO, Mojec International Limited, along with other metering manufacturing companies in the … Read more

Kano Disco resumes implementation of revised tariff

By Bashir Bello – Kano The Management of Kano Electricity Distribution Company (KEDCO) on Monday says the company has resumed the implementation of the revised service-based tariff following an earlier suspension by the Nigerian Electricity Regulatory Commission (NERC). KEDCO Head, Corporate Communications, Ibrahim Sani Shawai, announced this in a statement made available to newsmen in … Read more

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