LAGOS JANUARY 6TH (NEWSRANGERS)-The Nigerian Electricity Regulatory Commission (NERC) on Sunday said no tariff increase was approved by the commission. It was reported that President Muhammadu Buhari-led Federal Government through the Nigerian Electricity Regulatory Commission, NERC, approved an increase in electricity tariff by the Electricity Distribution Companies, DisCos, in the country. The directive of the…
LAGOS JANUARY 6TH (NEWSANGRS)-ELECTRICITY tariff is going up across the country, and this is official. The 11 electricity distribution companies (DisCos) have the mandate of the Nigerian Electricity Regulatory Commission (NERC) to effect the tariff increase from April. These are: Abuja Electricity Distribution Company, Benin Electricity Distribution Company, Enugu Electricity Distribution Company, Eko Electricity Distribution…
LAGOS JANUARY 4TH (NEWSRANGERS)-The travel measures taken against Nigeria by the United States last year are starting to have a clear and, potentially, long-term effect. Data from the US travel and tourism office shows Nigeria recorded the largest global drop-off in visitors to the US. As of October 2019, 34,000 fewer Nigerians traveled to the…
LAGOS JANUARY 4TH (NEWSRANGRS)-Africa’s leading chemical and agro-allied company, Notore Chemical Industries Plc, has drawn down a ₦13.32 billion facility from the African Export-Import Bank (Afreximbank) for a Turn-Around Maintenance (TAM) program to achieve nameplate capacity of its plant in 2020. This was disclosed in the company’s Report for the Financial Year Ended (FYE) September…
LAGOS JANUARY 2ND (NEWSRANGERS)-Investors in Nigerian equities lost about N1.71 trillion in 2019 as a combination of political risk, weak macroeconomic performance and tense global outlook drove the stock market to second consecutive negative performance. The stock market closed yesterday with negative average full-year return of -14.60 per cent for the 2019 trading year, equivalent…
LAGOS JANUARY 2ND (NEWSRANGERS)-No fewer than 250 passengers were onboard the aircraft as at the time of the incident. What would have been the end of the year disaster was on Tuesday morning averted at Port Harcourt International Airport when a Turkish Airline aircraft tyre burst on landing at the airport. Information gathered by our…
LAGOS DECEMBER 31ST (NEWSRANGERS)-Aliko Dangote, Africa’s richest man, became $4.3 billion richer in 2019 as his fortune continued to grow on the back of investments in cement, flour and sugar. The 62-year-old Nigerian businessman and Africa’s most prominent industrialist ended the decade with a net worth of almost $15 billion, making him the 96th wealthiest…
LAGOS DECEMBER 31ST (NEWSRANGERS)-The Joint border drill has confiscated more than 4800 bales of second hand clothings valued at three billion naira from Yaba market in Lagos. The Customs Coordinator, Western Zone, Assistant Comptroller General, Bukar Amajan, explained that the seizure was made possible through intelligence report. More than 4800 bales of second hand clothings…