NERC Slams Abuja Electricity N200m Fine Over Misapplication Of New Tariff

NewsNigeriaPowerNERC Slams Abuja Electricity N200m Fine Over Misapplication Of New Tariff

Uzoamaka Ikezue (Staff Reporter)April 5, 2024

The Nigerian Electricity Regulatory Commission (NERC) has slammed Abuja Electricity Distribution Plc (AEDC) with a fine of N200 million for failing to adhere to its tariff guidelines, thereby creating a stir among consumers and industry stakeholders alike. According to reports, the fine came in the wake of the Supplementary Order to the Multi-Year Tariff Order for 2024, issued on April 3, 2024, which AEDC has been found in violation of. A detailed correspondence released by...

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Wema Bank Grows Profit Before Tax By 196% In Year 2023

BusinessNewsNigeriaWema Bank Grows Profit Before Tax By 196% In Year 2023

Uzoamaka Ikezue (Staff Reporter)April 5, 2024

The Wema Bank Plc has grown its profit before tax by 196 percent as it announces a full year 2023 audited financial statement. According to reports made available to journalists, the bank recorded Profit before tax growth of 196% from ₦14.75bn to ₦43.59 billion. Proposed dividend per share of 50kobo; up from 30kobo in 2022. Deposit growth of 60% to ₦1,860.57bn from ₦1,165.93bn reported in FY 2022. Return on Equity (ROAE) of 39.28%, NPL of...

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Anti-Bomb Squad Reveals Six Signs To Identify Explosives

Crime & SecurityNewsNigeriaAnti-Bomb Squad Reveals Six Signs To Identify Explosives

Hassan Umar Shallpella (Regional Correspondent)April 5, 2024

The commandant of Explosive Ordnance Disposal (EOD) of the Nigeria Police, Sylvanus Ntul has provided six signs to avoid risk as to mitigate the loss of lives and property. Ntul who spoke at a conference to mark the International Mine Action and Awareness Day 2024, organized by the United Nations Mine Action Service (UNMAS) in Maiduguri emphasized the importance of self-reliance and community awareness in ensuring safety in areas affected by mines and explosives. “As...

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Electricity Tariff Hike: Northern Elders Rebukes Tinubu

NewsNigeriaPoliticsElectricity Tariff Hike: Northern Elders Rebukes Tinubu

Hassan Umar Shallpella (Regional Correspondent)April 5, 2024

The recent decision by President Bola Tinubu’s government over the increase in electricity tariff has been described as a “reckless move” and a complete disregard for the well-being and welfare of the Nigerian people. The Director of Publicity and Advocacy of the Northern Elders Forum (NEF) Abdul-Azeez Suleiman in a statement on Thursday said the breakdown of the new tariffs revealed an alarming burden that the average Nigerian will face in affording electricity daily. The...

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Hon. Agbese Escapes Assassination Attempt

NewsNigeriaHon. Agbese Escapes Assassination Attempt

Hassan Umar Shallpella (Regional Correspondent)April 5, 2024

The Deputy Spokesperson of the Nigerian House of Representatives, Hon. Philip Agbese who represents Ado/Okpokwu/Ogbadibo Federal Constituency of Benue State on Thursday allegedly escaped an assassination attempt. He was attacked in Igumale, the headquarters of his local government area of Ado, during a constituency outreach organized to mark the Easter celebration, but was saved by personnel of ‘Operation Whirlwind’ of the Nigerian Armed Forces on a peacekeeping mission in the area. An eyewitness said some...

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Taraba State Government To Assist Victims Of Windstorm

NewsNigeriaPoliticsTaraba State Government To Assist Victims Of Windstorm

Hassan Umar Shallpella (Regional Correspondent)April 5, 2024

Taraba state government will soon assist victims of the devastating windstorm that occurred on Tuesday in Takum that rendered many families homeless. Emmanuel Bello, Special Adviser on Media and Digital Communication to Taraba State Governor, Agbu Kefas, made the pledge on Wednesday said the administration of Kefas would find ways to support victims in rebuilding their homes destroyed by a storm. He said the high-powered delegation was mandated to take stock of all the damages...

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Military Released Identities Of Some Top Terrorists’ Commanders Killed

Crime & SecurityNewsNigeriaMilitary Released Identities Of Some Top Terrorists’ Commanders Killed

Hassan Umar Shallpella (Regional Correspondent)April 5, 2024

The full identities of some top terrorists’ commanders, who were killed in the Northern region of the country during various operations across all theatres between January and March 2024 have been released on Thursday by the military high command. Among those killed by the troops attached to different operations included the Head of Is-Al Furqan Province (ISGS and ISWAP), Abu Bilal Minuki popularly known as Abubakar Mainok among his criminal gang members as well as...

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Newly Approved Electricity Tariff Will Reduce Subsidies – Oseni

NewsNigeriaPoliticsNewly Approved Electricity Tariff Will Reduce Subsidies – Oseni

Hassan Umar Shallpella (Regional Correspondent)April 5, 2024

The Vice Chairman, Nigerian Electricity Regulatory Commission (NERC), Mr Musliu Oseni says the newly approved tariff is expected to reduce subsidies for the 2024 fiscal year by about N1.14 trillion. This in a statement released in Abuja on Wednesday, said that the Federal Government had indicated a transition in policy direction towards introducing a more targeted subsidy regime aimed at mitigating the impact of changes in macroeconomic parameters “With the newly approved tariffs, subsidies for...

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LP Chairman Abure Narrowly Escapes Fire, Possible Assassination Attempt

NewsNigeriaPoliticsLP Chairman Abure Narrowly Escapes Fire, Possible Assassination Attempt

By Ezinwanne Onwuka (Senior Reporter)April 4, 2024

Barrister Julius Abure, the national chairman of the Labour Party, LP, narrowly escaped a fire that engulfed his residence in Abuja early on Wednesday. The LP alleges the fire may have been a deliberate attempt on Abure’s life. According to a statement issued by the party’s national publicity secretary, Obiora Ifoh, the fire started shortly after 1:00 a.m. while Abure and his family were asleep. Neighbours and security personnel stationed at the compound raised the...

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15% of Nigerians to Pay More for Electricity as Regulator Hike Tariff

NewsNigeriaPolitics15% of Nigerians to Pay More for Electricity as Regulator Hike Tariff

By Ezinwanne Onwuka (Senior Reporter)April 4, 2024

The Nigerian Electricity Regulatory Commission, NERC, has announced a hike in electricity tariffs for a segment of consumers. This move comes amid ongoing efforts to reform the nation’s power sector The new tariff structure, effective 1st April 2024, applies to customers classified under Band A, which typically refers to those who receive a relatively high number of daily power supply hours often exceeding 20 hours. According to NERC’s Vice Chairman, Musiliu Oseni, these Band A...

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