Electricity: Lagos, South East To Experience Massive Blackout

More Nigerians are likely to experience power cut in the next few days over delay in payment of N2310 billion owed federal government by power distribution companies, also known as Discos. The failure to reach an agreement has fueled a possible disconnection of all the Discos by the Transmission Company of Nigeria, TCN the magazine learned last night. “In the event that the Discos failed to meet the deadline set by the government we will go ahead with the disconnection and this would affect many factories and home,” a TCN…

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Ministerial List: Buhari Dashes Kachikwu’s Hope

The hopes of former Minister of State for Petroleum Resources, Dr Ibe Kachikwu to be re-appointed into the cabinet of President Muhammadu Buhari appear to have been dashed. The writer cum politician , sources say is poised to return to government to fill the slot of Delta state in the administration. Recall that Presidential spokesman Femi Adesina recently hinted that President Buhari will not delay in constituting his cabinet. But few hours after that statement, President Buhari made the first appointment suggesting that he may have foreclosed the appointment of…

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Apart from Paying For Subsidy, 70% Earnings Go For Debt Servicing, Says Sanusi

Emir of Kano Sanusi Lamido

Emir of Kano, Muhammed Sanusi II, has insisted that Nigeria spends over 70% of her earnings on debt servicing, despite spending so much to pay for fraudulent subsidy which has led to the country being on the high way to Bankruptcy. Sanusi spoke in Kano at the third National treasury workshop organized by the office of the Accountant General of the federation. He was invited as a former Central Bank Governor to give an insight into the economy. But he did not mince words: he declared that Nigeria has gone…

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Dstv: Sack Gale, Workers Send SOS To FG

More than 2000 Nigerians will lose their jobs following the decision of Cable television service provider, Multichoice to offload a number of its workforce. Multichoice are the operators of DSTV and Gotv, the largest cable service providers in the country. Recall that the company has been under serious litigations from Nigerians who want the price of services on both the Dstv and Gotv platforms slashed. Anxiety has mounted among the staff since the idea was first broached yesterday by the management. Those who spoke to the magazine said there would…

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Electricity: Otedola To Invest $1b In Geregu

Mr.Femi Otedola and Mr. Kunle Bakare

Billionaire oil tycoon Femi Otedola has now become a big player in the nation’s burgeoning power generation sector. Independent sources informed the magazine that the business man “will raise his investment in the sector to over one billion naira in the next few years,” few hours after he announced the sale of Forte Oil Plc and final his exit from the oil marketing business. Otedola had in 2018, invested $350 million in a power generation company known as Geregu Power plc. The company was acquired in 2013 through a subsidiary…

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Buhari Replaces Maikanti Baru, Appoints Alleged Aba Kyari’s Brother GMD

President Muhammadu Buhari has approved the appointment of Mele Kolo Kyari as the Group Managing Director, GMD, of the Nigeria National Petroleum Corporation, NNPC. He replaces the current GMD, Maikanti Baru, who bows out on July 7, 2019. Kyari, believed in some quarters to be a brother to former Presidential chief of Staff, Abba Kyari, hails from Borno. But former Aviation Minister, Femi Fani-kayode, claims that they are not related. He said he had known the Kyari  family for long, and that kolo is not a member of their family.…

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Nigeria Mum As Ghana Dictates The Price Of Cocoa

Producers previously got 6% of earnings. By Uche Mbah The cocoa market, believed to have been dominated in West Africa by Nigeria, is currently being dominated by the duo of Ghana and Ivory Coast. Nigeria was believed to have accounted for at least 50% of cocoa exports from west Africa. But current statistics puts a combined efforts of Ghana and Ivory Coast as controlling 60% of the export market share of cocoa. And they have started to dictate the pace. West Africa exports Cocoa to Europe for the chocolate and…

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Julius Berger Opens Website On Information On Second Niger Bridge

By Uche Mbah German construction giant, Julius Berger, has opened a website to disseminate information about the progress of work at the second Niger Bridge. This followed controversies over the state of the contract work  on the bridge, which many believe the central government is paying lip service to. Recall that contract for the constructin of the bridge was awarded by the goodluck Jonathan administration to Julius Berger in a Public Private participation contract, where the company jointly funds the contract while recouping their money after the construction via tolls.…

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Airforce Chopper Crash-lands In Katsina

By Uche Mbah The Nigerian Air force has confirmed the crash of a Nigerian Air force helicopter in Katsina state, saying it crashed in the process of landing while returning from action against bandits in the North West Theater of Operation Hadaran Daji. The Nigerian Airforce, NAF’s spokesman, Air Commodore Ibikunle Daramola, said that investigations are ongoing into the cause of the crash. Reports indicate that the helicopter crashed moments before landing at the Katsina airbase. The Pilots are said to have exited from the aircraft before it  burst into…

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NIMASA: DG Wastes N50b Cabotage Cash On Moribund Dock, Awards N250M Contract To Proxy

The Director General of the Nigerian Maritime Administration and Safety Agency, NIMASA, Dr. Dakuku Peterside has been embroiled in many controversies in the past, but the latest one that he awarded a whopping N250m contract to a proxy company threatens his continuous stay in that office. The politician has also been recently put on the spot for splashing N50b on a floating dock which has since remained moribund. The Cabotage fund was said to have been used to finance the controversial Dock procured mid last year. According to the magazine’s…

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