Transmission Company of Nigeria (TCN) has dismissed the claim that the Federal Government was providing free electricity to Nigerians as the government does not own all sections in the power sector. The Managing Director of TCN, Mr. Usman Mohammed, made this known in an interview in Abuja on Thursday. “There is also the information that power is going to be free, that is going to affect us because some customers who get this information may...
Businesses in Nigeria have expressed worry about the safety of their staff and liquidity as they confront the realities of the pandemic, a survey by PwC reveals. The survey which sampled the opinion of about 3000 respondents — many of them CEOs, managers, and business owners – found that 22.5% were worried about liquidity – the availability of immediate cash to pay bills especially the following disruption to business activities. As COVID-19 ravages several countries,...
The Enugu State Government has directed commercial tricycle operators in the state, popularly known as `Keke riders’, to limit their operating time between 6 a.m. and 7 p.m. daily. The Secretary to the Enugu State Government, Prof. Simon Ortuanya, made this known in a statement made available to the News Agency of Nigeria (NAN) in Enugu on Monday. He said that the directive takes effect from Monday evening, April 13. “The decision was in furtherance...
Ministers of the OPEC+ countries agreed in a video conference on Sunday to boost oil prices by cutting production by 9.7 million barrels a day for May and June, Mexico’s Energy Minister Rocio Nahle tweeted. The reduction is 300,000 barrels below the production cut which the Organisation of the Petroleum Exporting Countries (OPEC) and all its allies within the expanded OPEC+ format had agreed on Friday. Mexico refused to reduce its production by 400,000 barrels as...
As Nigeria’s government plans to extend lockdown order slammed in the wake of coronavirus pandemic, the National Poultry Association of Nigeria (NPAN) has called on the Federal and state governments not to restrict the movement of food items, medication, poultry, and poultry feeds in a bid to contain the spread of the deadly virus. The Association observed that there was a need to change the current approach, as the approach is causing more panicking that...
DUBAI, April 10 (Reuters) – The Saudi energy minister told a conference of the G20 group of the world’s largest economies on Friday that ensuring affordable energy supply is key to facilitating a global economic recovery. “Having affordable, reliable, accessible energy supply is considered a necessity to enable basic services, including health care, and help our efforts in assisting economic recovery,” Prince Abdel Abdulaziz bin Salman said in an opening speech to a video-conference of...
As economic strains continue to bite amidst ravaging COVID-19 pandemic, commercial tricycles riders in Taraba state are lamenting that with the lockdown order imposed many are now finding it difficult to feed their families. The riders regret that contrary to claims that government palliative was doled out in some states, residents are yet to get a dime. In a statement, the Association of Tricycle Riders in Taraba appealed to Governor Darius Ishaku to review the...
German carmaker BMW sold 20.6 percent fewer cars in the first quarter of 2020 than last year, with the coronavirus pandemic leading sales to tumble in China, Europe, and the U.S. The German carmaker announced this in a statement on Monday. “Around 80 percent of all retail outlets in Europe and 70 percent of those in the U.S. are currently closed due to the coronavirus,” BMW said. The company is “flexibly adapting” its production volumes...
The German Government on Monday moved to give breweries greater financial leeway during the novel coronavirus pandemic by giving them the option to defer the annual beer tax. According to the spokesman for the Federal Ministry of Finance, the Federal Ministry of Finance and its state counterparts agreed that beer tax can be deferred to improve liquidity of breweries in current difficult situation and to protect jobs. The ministry said applications to defer the tax...
The Nigeria Private Sector Coalition Against COVID-19 (CACOVID) has so far realised N19.4 billion to help fight COVID-19 pandemic. The update of the contribution was made known in a document released by Mr Isaac Okorafor, Director, Communications of the Central Bank of Nigeria (CBN) in Abuja on Friday. Okorafor disclosed that Wacot Rice Limited, Tolaram Africa Enterprises and Bank of Industry made donations of N500 million each. He said former Vice President, Atiku Abubakar among...
