FAAC queries NNPC over $55m NLNG dividend
The Federation Account Allocation Committee (FAAC) has initiated an investigation to determine what the Nigerian National Petroleum Corporation (NNPC) Limited did with some Nigerian Liquified Natural Gas (NLNG) profits. An ad hoc committee is now analysing and comparing amounts owed for subsidies, taxes, royalties, and other payments with amounts received or paid thus far. According […]
Stakeholders: 40% Hike in Prepaid Meter Prices Will Widen Metering Gap, Lower Demand
Some stakeholders in the Nigerian power industry have warned that the latest 40 per cent increase in prices of prepaid electricity meters would further widen the number of customers not yet metered by the distribution companies (Discos). They also alerted the federal government that the new meters approved by the Nigerian Electricity Regulatory Commission (NERC) […]
5G subscriptions rise to 500,000 – NCC
The Executive Chairman, Nigerian Communications Commission, Prof. Umar Danbatta, has said Nigeria’s Fifth Generation network subscription hit half a million. He said broadband penetration also rose to 47.01 per cent as of July 2023. In a statement, while speaking in Kano, he said the telecoms industry recorded remarkable milestones since 2015. In July, Danbatta stated […]
Qua Iboe crude surges past $100 for first time since 2022
Qua Iboe crude, Nigeria’s premium light sweet crude, surpassed $100 a barrel for the first time since 2022, as the global market continues to suffer a supply deficit. The price surge comes as the Organization of the Petroleum Exporting Countries (OPEC) and its allies, known as OPEC+, have maintained production cuts. At the same time, […]