NCC reports restoration of services impacted by undersea cable breaks
Post AMUGE13 hrs
Business a.m The Nigerian Communications Commission (NCC) has announced that the recent undersea cable cuts, which had impacted voice and data services, have now been largely resolved. Utilisation levels have reportedly reached around 90 per cent of their peak capacity, providing much-needed relief to affected subscribers. On March 14, 2024, a widespread disruption of connectivity […]
Nigeria inflation rate reaches new peak at 31.70% in February – NBS
Post AMUGEMarch 15, 2024
Business a.m. Nigeria experienced an unprecedented spike in inflation, with a new all-time high of 31.70 per cent recorded in February 2024, an indication that prices of goods and services in Nigeria have increased significantly over the past year, placing further strain on consumers,according to the National Bureau of Statistics (NBS). The NBS in its […]
Internet outages hit banks, telecoms as undersea cables suffer damage
Post AMUGEMarch 14, 2024
Business a.m The connectivity of banks and telecommunication companies in Nigeria was severely disrupted on Thursday after a series of major undersea cables that serve the region were damaged near Abidjan in Côte d’Ivoire. The incident caused significant internet outages, leaving many businesses and individuals in Nigeria and other West and South African countries without […]
CBN renews support for agriculture sector with N100bn funding
Post AMUGEMarch 14, 2024
Business a.m The Central Bank of Nigeria (CBN) has earmarked N100 billion to purchase 2.5 million bags of fertilisers for distribution to farmers as part of its funding intervention for the agricultural sector aimed at increasing the availability of agricultural inputs and addressing the pressing issue of food security in Nigeria. In a statement, Olayemi […]
Aig-Imoukhuede returns to chair Access Holdings after 10 years
Post AMUGEMarch 13, 2024
Business a.m Aigboje Aig-Imoukhuede, who, along with late Herbert Wigwe, the immediate past group chief executive officer of Access Holdings Plc, was the brain behind the acquisition and transformation of Access Bank Plc in 2002 and led it as group managing director and chief executive officer before retiring in 2013, is making a strategic return […]
Agora policy highlights framework for Oronsaye report’s maximum impact
Post AMUGEMarch 13, 2024
Onome Amuge As the Nigerian government gears up to implement the recommendations of the Oronsaye report, Agora Policy, a think tank based in Abuja, is cautioning against a haphazard approach that could do more harm than good. The think tank has called for a comprehensive audit of the human resources and assets of the agencies […]
Nigeria’s power crisis deepens on grid failures, dysfunctional DisCos
Post AMUGEMarch 12, 2024
ONOME AMUGE The power crisis in Nigeria is like a malignant disease, infecting the nation’s economy and causing its citizens untold suffering. Small businesses are especially vulnerable, as they struggle to shoulder the burden of providing their own power, while individuals are faced with daily frustrations and hardships. Every day, across Nigeria, the power situation […]
Global food prices drop to lowest level in 3 years
Post AMUGEMarch 8, 2024
Business a.m The Food and Agriculture Organisation (FAO) of the United Nations has released its latest food price index, showing a decline in global food prices for the seventh month in a row in February and the lowest level in three years. The index, which measures the average monthly change in international prices of a […]
Tinubu reconstitutes FGN Power Company board
Post AMUGEMarch 8, 2024
Business a.m President Bola Tinubu has approved the reorganisation of the governing board of the Federal Government of Nigeria Power Company (FGN Power), which is responsible for implementing the accelerated performance agreement with Siemens Energy. This latest development comes just four months after the Nigerian and German governments signed the Presidential Power Initiative (PPI) agreement, […]
Tinubu takes executive action on oil and gas reforms
Post AMUGEMarch 6, 2024
Business a.m President Bola Tinubu has approved three new directives for the oil and gas sector aimed at improving the industry’s efficiency and competitiveness. The directives include introducing fiscal incentives for related projects, reducing contracting costs and timelines, and promoting cost efficiency in local content requirements. The development was made known in a statement, titled […]