Home Business

Business

IMF picks holes in Nigeria’s economic recovery reports

“Downside risks to the near-term arise from further deterioration of security conditions and the still uncertain course of the pandemic both globally and in Nigeria.”

Economy: Naira weakens to 4-year low

“Some people are switching their naira savings into dollars fearing further devaluation”

$4bn Mambilla Plant: Why Sunrise Power drags FG to ICA in France

“The Federal Republic of Nigeria shall, within a period of 14 days from the date of these Terms of this Settlement, pay Sunrise Power and Transmission Company Limited the sum of US$200,000,000.00 in full and final settlement of the claims in this arbitration.

National grid collapses thrice in 5 months, 130 times in 8 yrs — Findings reveal

The reality is, there is no spinning reserve procured currently in the market notwithstanding TCN’s constant reminders to the regulator (NERC) to procure about 260MW which though below the estimated figure, could be a starting point.

Cryptocurrency: Dogecoin surges more than 25%, market cap grows to $54 billion on Coinbase listing this week

In early May they fueled the crypto asset’s rally to its all time high of 67 cents, per Coin Metrics. His appearance on SNL, in which he called dogecoin “a hustle,” just as easily sent the price crashing back down.

Tesla to buy more than $1 bln of Australian battery minerals a year

Tesla also supplies batteries to Australia to store energy captured from rooftop solar panels which shore up reliability in its energy network. Australia has the world's highest per capita density of rooftop solar panels.

Bitcoin plunges as Tesla, ARK reiterates support

In the midst of the crypto sell-off on Wednesday, Musk tweeted a 'diamond hands' emoji though, used in social media to signal a position is worth holding on to.

Bitcoin rises 5.6% to $49,337.72

Bitcoin, the world's biggest and best-known cryptocurrency is up 77.9% from the year's low of $27,734 on Jan. 4, and down 24% from the year's high of $64,895.22 hit on April 14.

National grid restored after system collapse – TCN

Power was restored to the transmission stations a day after TCN announced that the nation’s electricity grid had suffered a system collapse, leading to a power outage in various parts of the country.

Bitcoin crashes as Elon Musk announces Tesla cars can no longer be bought with cryptocurrency

He went on to clarify that Tesla would keep the money received as cryptocurrency, rather than converting it into a fiat currency such as dollars

Telcos lost 12.06 million subscribers in three months – NCC

A further breakdown of subscriber statistics showed that MTN lost the highest number of subscribers in March 2021.

Nigeria’s trade deficit rises 49% to $2.5bn

“When compared with the corresponding period of 2020, it indicated a 27.5 per cent decline. Aggregate exports declined by 9.2 per cent to $2.81 billion in the review period, compared with $3.10 billion in December 2020, due, largely, to decline in crude oil and gas export receipts.

Most Read

Sunday Igboho handcuffed inside Cotonou cell, being fed by someone – Lawyer, Salami

“At the moment, Sunday Igboho’s hands are in chains at the police station. This is not good at all.”

Boko Haram kills seven Cameroonian Soldiers, injure scores

NAN reports that the development was the deadliest attack on the Cameroon army in more than 10 months, according to security reports

Flight operations resume after plane crash in Ilorin airport

Passengers onboard reportedly escaped death by the whiskers when the aircraft burst its tyre while landing and a bang affected the cabin which led to luggage falling on them

Gbajabiamila decries poor voters turnout at Lagos LG polls

From what I have seen so far, there is no violence and people are conducting themselves orderly but would have wanted a larger turnout