Ayobamiji Komolafe 
Business News Round-UP
Here is New Telegraph’s weekly business news roundup of the top 15 latest Nigerian news making headlines from Monday, August 26 to Saturday, August 31, 2024.
Landing Cost Of Diesel Rises To N1,136.97/l
The landing cost of diesel (AGO) to Nigeria has risen to N1,136.97 and that of aviation fuel (JetA1) has also increased to N1,101.77/L.
These were contained in a Competence Centre energy bulletin…Read more
World Bank To Crash Solar Tariff In Nigeria – NERC
The Nigerian Electricity Regulatory Commission (NERC) has said the World Bank will soon be executing a solar auction framework that will reduce the cost of solar tariffs in Nigeria.
The Head of the Renewable Energy/Corporate Planning and Strategy…Read more
FG Recovers N83.01bn Through Whistleblower
The Federal Government has put the total recovery of funds through whistleblower policy at N83.01 billion component, $609.083 and €5,494 in eight years of policy enforcement.
The recoveries represent only liquid assets, excluding non moveable…Read more
NNPCL Expands Footprint To Asia With LNG Supply On Des Basis
In line with its strategic vision to be a dynamic and reliable global energy supplier of choice, the Nigerian National Petroleum Company Limited (NNPC Ltd) has commenced shipment of Liquefied Natural Gas (LNG) cargoes to Japan and China on Delivered Ex-Ship (DES) basis.
NNPC Ltd achieved the milestone through the collaboration of two…Read more
FG Urges UN To Assist In Nigeria’s Energy Targets
The Federal Government has called on the United Nations to be involved in Nigeria’s effort to achieve its energy targets by providing technical assistance, capacity building, and financial support.
Minister of Power, Chief Adebayo Adelabu, made the call during…Read more
Federal High Court To Hear Binance Money Laundering Case Monday
The Federal High Court will on Monday, September 2 hear the suit filed against the cryptocurrency exchange company, Binance and two of its executives regarding the money laundering allegations.
The court session, initially planned for October 11, has now been…Read more
Farmers: Insecurity, Others Still Threatening Food Production
The National President of All Farmers Association of Nigeria (AFAN), Arc Kabir Ibrahim, has emphasised that agricultural stakeholders and the three tiers of government (federal, state and councils) must work towards Nigeria’s quest to attain food security.
He said this had become expedient in the wake of surging food insecurity…Read more
FG Spends $13.94bn On PMS Import In 14 Months
The Federal Government has hired no fewer than 316 ships to ferry $13.94 billion worth of Premium Motor Spirit (PMS) in the last 14 months. Findings revealed that the product was lifted to the country between January 2023 and February 2024.
This is despite government’s promise to produce fuel from…Read more
LASAA Boss Unveils Transformative Plans For Out-Of-Home Practitioners
The Lagos State Signage and Advertisement Agency (LASAA) has streamlined processes for obtaining necessary approvals, introduced transparent regulations and also launched compliance campaigns.
Managing Director, LASAA, Prince Fatiu Akiolu, disclosed this yesterday…Read more
FG Assures Conducive Environment For MSMEs
The Federal Government has said it will provide a conducive business and regulatory environment for Micro, Small and Medium Enterprises (MSMEs) to thrive in the country.
The Federal Government has said it will provide a conducive business and regulatory environment for Micro, Small and Medium Enterprises (MSMEs) to thrive in the country.
Vice-President Kashim Shettima, represented by Sen. Ibrahim Hadejia, Deputy…Read more
Reps To Pass Bill On Electricity Theft
The Chairman of the House of Representatives Committee on Privatization and Commercialization, Hon. Hamisu Chidari Ibrahim, has pledged the committee’s resolve to work with relevant committees in the House to pass legislation on electricity theft in the country.
According to him, the visit was in line with the legislative functions of…Read more
H1’24: Malaysia Exports N128bn Worth Of Palm Oil To Nigeria
An average of 96, 114 metric tonnes of crude palm oil valued at N128 billion ($87.25 million) were ferried to Nigerian port in six months from Malaysia.
Findings revealed that 16,019 tonnes of the produce were shipped…Read more
Oil Theft: 72 Illegal Refineries, 204 Incidences Recorded In Nigeria In One Week – NNPC Ltd
The Nigerian National Petroleum Company Limited (NNPC Ltd) has said that 72 illegal refineries and 204 incidences were recorded in Nigeria from 17th to 23rd August 2024.
It explained that the 204 incidences included 47 in deep blue, 10 in…Read more
US Pledges Support For FG’s Plan For Regular Power Supply
The United States (US) Ambassador to Nigeria, Mr Richard Mills, has expressed the US government’s support to the Nigerian government in its commitment towards improving access to regular power supply to businesses and households in the country.
He spoke during a meeting with the Minister of Power, Chief Adebayo Adelabu in…Read more
FG Kicks Off Plans To Revive Key Economic Sectors
The Federal Government has activated plans aimed at revitalising key sectors of the economy.
Minister of Finance and Coordinating Minister of the Economy…Read more
