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Nigerian Bulk Electricity Trading (NBET) says the country sells electricity to neighbouring countries for strategic reasons. Nnaemeka Ewelukwa, managing director, NBET, spoke on Tuesday when he appeared before the house of representatives committee on finance. Ewelukwa was responding to questions of why Nigeria sells electricity to other nations when the country does not have enough for its populace. “Nigeria sells electricity to Niger Republic and Benin Republic. Those transactions of recent have been more driven by specific generation companies like NDPHC,” he said. “At the heart of the transactions is the issue of the damming of the river. We have…
There was palpable tension in the Federal Capital Territory (FCT), Abuja, yesterday, after soldiers mounted security checkpoints on strategic locations following reports of planned invasion of the city by bandits and terrorists. It was gathered that security reports obtained by the military, late Tuesday night, revealed that the attackers fleeing from the heavy military onslaught in the northwestern part of the country were planning to enter the FCT, through the Abuja-Keffi Expressway and other entry points. Consequently, soldiers and the various security agencies have been placed on red alert to counter the invasion of criminals into the city. Already the…
Rescuers on Wednesday were racing to find survivors on the third day after a high-rise building under construction collapsed and trapped scores of people in the commercial capital Lagos, as the death toll rose to 22, officials said. As hope turned to despair, anxious family members and large crowds gathered near the site of the incident hoping to hear news on the fate of those still trapped under chunks of masonry and mangled steel where the building once stood. One man, choking with tears, said a relative of his travelled from United States for a wedding in Abuja and had…
Business activities in some parts of the Computer Village, Ikeja, Lagos State, were grounded following a gas leakage in front of the Awolowo House, a complex in the area. It was gathered that businessmen and women were operating around 7am on Wednesday when an underground gas pipeline was ruptured. Gas fumes permeated the environment as people fled in panic. Emergency responders were said to have arrived at the scene and sprayed chemicals to neutralise the gas which had pervaded the community. Our correspondents learnt that the company in charge of the pipeline, Gaslink, was contacted to shut down supply along…
Wednesday, 03 November 2021 06:08

DMO to issue another Sukuk bond worth N250bn

Debt Management Office (DMO) says it will issue about N250 billion Sukuk to finance road projects. DMO said this in a statement released on Tuesday. The Sukuk is a strategic initiative that supports the development of infrastructure, promotes financial inclusion and deepens the domestic securities market. Since the establishment of the initiative in September 2017, DMO had issued three Sovereign Sukuk — 2017, 2018 and 2020 “Subsequent to the debut Sovereign Sukuk in 2017 in which N100 billion was raised to finance the rehabilitation and construction of twenty-five (25) road projects across the six (6) geopolitical zones, the DMO issued…
Rescuers combed through the rubble of a high-rise building in Nigeria's commercial capital Lagos in search of survivors on Tuesday, a day after it collapsed while under construction, as the death toll rose to 20 with scores reported missing. Lagos state government said it had put its chief architect on indefinite suspension and launched an independent investigation of the causes of the collapse of what was to have become a high-end apartment block. Emergency services braced for a second night of work as earth-moving equipment lifted chunks of masonry at the site in the affluent neighborhood of Ikoyi. Large trailers…
While Greta Thunberg, Sir David Attenborough and world leaders will attract most of the media attention at COP26, the real work of getting 197 countries to commit to changes will fall to lesser-known diplomats and ministers - the negotiators. Their complex role requires a sharp mind, a deep reserve of tact and incredible endurance. Talks often go through the night and rarely finish on time. One participant likened the job to playing four-dimensional chess with spaghetti. Not only do countries have differing national priorities, but to make things even more confusing, nations forge alliances with each other and form negotiating…
Up to 100 people were missing after a luxury residential highrise under construction in Lagos collapsed on Monday, trapping construction workers under a pile of concrete rubble, witnesses said. A body was retrieved and at least three survivors were pulled out on Monday night as rescue workers raced against the clock to dig up victims at the site in the affluent neighbourhood of Ikoyi, where many blocks of flats are under construction. Workers told Reuters that possibly 100 people were at work when the building came crashing down. Rescue workers used excavators to dig through rubble using generator-powered flood lights.…
Tesla and SpaceX CEO Elon Musk is willing to sell stock to help solve world hunger if officials provide evidence that the funds will make a difference Musk made his comments in response to an assertion made earlier this month by World Food Programme Director David Beasley Beasley claimed that $6billion would solve the world hunger issue Musk, taking to Twitter Sunday, agreed to provide the funds if Beasley could describe exactly how the problem would be solved He also required that the WFP use 'open source accounting' so the public would see 'precisely how the money was spent' Elon…
PRESS RELEASE President Muhammadu Buhari has on Sunday, October 31 departed Abuja for Glasgow, Scotland to attend the 26th Conference of Parties (COP26) to the United Nations Framework Convention on Climate Change (UNFCCC). The President is scheduled to deliver his national statement at the High-Level segment for Heads of State and Government at the conference on Tuesday, November 2. Buhari’s address is expected to highlight Nigeria’s key priorities and action to tackle climate change as well as progress on the country’s transition to low carbon economy, consistent with achieving the Paris Climate Agreement. The conference, hosted by the United Kingdom…
November 27, 2024

CBN increases Interest Rate yet again

The Central Bank of Nigeria (CBN) has raised the monetary policy rate (MPR) from 27.25%…
November 26, 2024

Tinubu’s nepotism worse than Buhari’s, Senator says

Enyinnaya Abaribe, senator representing Abia South, has stated that Nigeria would have been in a…
November 24, 2024

Older adults opened up about things they ‘took for granted’ in their 20s and 30s

Last month, we wrote a post where older adults from the BuzzFeed Community shared things…
November 16, 2024

Influencer eats pig feed in extreme attempt to save money

Popular Douyin streamer Kong Yufeng recently sparked controversy in China by eating pig feed on…
November 26, 2024

Fighter jet brought to combat bandits who invaded Benue communities, killed 30, official says

At least 30 people have been killed in several communities across two Local Government Areas…
November 27, 2024

Here’s the latest as Israel-Hamas war enters Day 418

Israel-Hezbollah ceasefire, brokered by US and France, aims for permanent peace A ceasefire between Israel…
November 26, 2024

WhatsApp just introduced major new upgrade that overhauls messaging

I love WhatsApp but I’ve never been fond of voice messages, leaving them or retrieving…
October 27, 2024

Nigeria awarded 3-0 win over Libya after airport fiasco

Nigeria have been awarded a 3-0 victory over Libya, and three vital points, from their…

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