NewsReports

Executive Director, Nigeria Automotive Manufacturers Association, NAMA, Mr. Remi Olaofe, has identified reasons behind the nation’s poor performance in the development of its automotive sector. It should be recalled that in the early 1970s Nigeria had six flourishing auto plants, which supplied automobile needs of the country. This include Anambra Motor Manufacturing Company Limited, ANAMMCO, Peugeot Automotive Nigeria Limited, PAN, …

The Nigerian National Petroleum Company (NNPC) has requested a total of N3 trillion from the federal government to fund fuel subsidy in 2022. The Minister of Finance and National Planning, Zainab Ahmed, disclosed this while briefing State House correspondents after the weekly Federal Executive Council (FEC) meeting in Abuja on Wednesday. The federal government had on Monday suspended its plan …

The committee of the House of Representatives established to further alter the 1999 Constitution has adopted the bill seeking to confer citizenship rights on foreigners married to Nigerian women. The committee adopted the bill following its presentation by consultants working with the lawmakers on the amendment of the document. It is potentially another progress for women towards equality at the ongoing public …

Director General,  National Automotive Design and Development Council, NADDC, Jelani Aliyu, has unveiled an electric mini-bus converted from a petrol engine. The EV project was executed by a group of four young technocrats from Maiduguri, Borno State. •Mr Jelani Aliyu, DG Nigeria Automotive Design and Development Council, NADDC, inspecting the EV bus. Below is the bus. The vehicle was presented …

The Nigerian Postal Service (NIPOST), Thursday, added financial inclusion as part of its services to Nigerians, introducing its own e-debit card, agency banking platform and 27 new logistics vehicles for courier services. While unveiling the products, the Minister of Communications and Digital Economy, Isa Pantami, said they will also help the government in improving transparency and fighting corruption. “It is the …

The House of Representatives has directed the Central Bank of Nigeria (CBN) to suspend the implementation of the import/export electronic invoice policy. The apex bank was directed to adopt a 90-day timeline for the implementation of fiscal measures to avoid destabilising effects on the economy. These resolutions followed a motion moved by Leke Abejide (ADC, Kogi), on Thursday. The apex bank had …

• No DisCo declared dividend eight years after privatisation • Buying electricity assets with loans, misplaced priority, say experts• Banks may run into regulatory sanctions over non-performing electricity loans • N202b MDAs debt, insecurity, theft, lax corporate governance pose fresh challenges• GenCos suffer investment shortfall over DisCos’ load rejection The postponed fears by most stakeholders in the Nigerian electricity market is nowhere, as …

FG feared subsidy protests could be worse than #EndSARS – Source Details have emerged on how security advice forced the President, Major General Muhammadu Buhari (retd), to make a U-turn on the decision to remove fuel subsidy. An impeccable security source told The PUNCH that intelligence handed over to the President by security officials showed that the protests that would have accompanied …

Three persons have been confirmed dead while many houses were razed in Ohoror community, Ughelli North council, after a truck conveying liquefied petroleum gas exploded. The accident involving two other trucks at the popular Ohoror Junction, Uwheru Kingdom, occurred on Wednesday night. About 25 houses were lost to the inferno according to one of the leaders of the community, Simeon …

The Peoples Democratic Party has said by proposing another 18-month extension for fuel subsidy removal, the regime of the President, Major General Muhammadu Buhari (retd.), is shifting the responsibility to the next administration. In an interview with our correspondent on Thursday, the National Publicity Secretary, PDP, Debo Ologunagba, said the opposition party was not surprised by the Federal Government’s decision. …