Author: Press Room

There are indications that the ruling All Progressives Congress (APC) will push for the withdrawal of statutory allocations to local councils in Osun State. APC’s national publicity secretary, Mr. Felix Morka, dropped the hint on Sunday in a statement made available to reporters in Abuja. APC expressed optimism that the Federal Government will make federal allocations for local governments available only “to democratically elected and judicially certified local government officials in Osun State.” APC maintained that the people of Osun State deserve to live in peace and security, just as it called on Governor Ademola Adeleke to quit his…

In SummaryAfrica’s e-commerce market was valued at approximately $277 billion in 2023, and its projected CAGR is 14.4% through 2032.The largest players in Africa’s e-commerce sector are Jumia (Nigeria) and Takealot (South Africa).By the end of 2025, the number of e-commerce users in Africa is projected to hit 500 million.E-commerce startups in Africa have received a cumulative funding of over $3.9 billion from seed investors.Deep Dive!!The rise of e-commerce in Africa is a testament to technological advancements on the continent. Despite the numerous challenges, the industry has continued to grow in leaps and bounds. According to recent data by Statista,…

In a year marked by flight disruptions and soaring ticket prices, Nigerian airlines Air Peace and Aero Contractors refunded millions of naira to passengers in 2024. This was revealed in a report released by the Nigeria Civil Aviation Authority (NCAA) on Monday, highlighting the efforts made to address passenger grievances stemming from delays, cancellations, and cabin class downgrades. According to the NCAA, Air Peace compensated 1,901 passengers in November 2024 alone, while Aero Contractors issued refunds to over 20 passengers throughout the year. These compensations, the regulator emphasized, were a necessary step to maintain trust in the aviation industry amidst…

With Nigeria’s stock market witnessing unprecedented growth, the threat of financial fraud is looming larger than ever. To combat this, the Chief Executive Officer of Nigerian Exchange Regulation (NGX RegCo), Olufemi Shobanjo, has called for stronger collaboration with the Economic and Financial Crimes Commission (EFCC) to safeguard investor confidence and market integrity. During a visit to the EFCC headquarters in Abuja, Shobanjo made a passionate case for renewed efforts to curb fraudulent activities in the capital market. His concerns were echoed in a statement released on Tuesday by EFCC’s Head of Media and Publicity, Dele Oyewale. “In 2024, we saw…

The Dangote Refinery has slashed its ex-depot price for premium motor spirit (PMS), better known as petrol, from ₦950 per litre to ₦890. In a statement, the company said the move is “effective from Saturday, 1st February 2025”. The Dangote Group Chief Branding and Communications Officer Anthony Chiejina said the reduction is based on market realities. “This strategic adjustment is a direct response to the positive outlook within the global energy and gas markets, as well as the recent reduction in international crude oil prices,” Chiejina said in the statement issued on Saturday night. He recalled that Dangote Refinery a…

Hannah Johnson The Director-General of the National Agency for Food and Drug Administration and Control, Prof. Mojisola Adeyeye, on Saturday visited the agency’s Enforcement Office in Apapa, Lagos, to inspect illicit pharmaceuticals confiscated from the Idumota Open Drug Market. During the inspection, Adeyeye observed that the NAFDAC warehouse was packed to capacity, with some seized drugs stored in the director’s office due to the volume of confiscated items. Addressing journalists after the tour, she emphasized that the agency’s operations were solely focused on safeguarding public health. “We are not disturbing trade; we are protecting lives. We cannot, because of trade,…

The Nigerian Communications Commission (NCC) has directed telecommunications operators to immediately restore all phone lines blocked due to non-compliance with the National Identification Number (NIN) SIM card linkage policy. The directive, issued on Monday, by the NCC’s Director of Media and Public Affairs, Reuben Muoka, comes as a surprise given the government’s previous insistence on the NIN-SIM verification exercise as a crucial step in enhancing national security and combating cybercrime. Millions of Nigerians were left without phone service over the weekend after telecom companies blocked SIM cards that had not been linked to valid NINs. The move sparked widespread public…

Nigerians should prepare for an increase in electricity tariffs in the coming months, as the federal government moves towards cost-reflective pricing to attract investment and improve power supply reliability. This was disclosed by President Bola Tinubu’s Special Adviser on Energy, Olu Verheijen, during an interview at a World Bank-backed energy conference in Dar es Salaam, Tanzania, according to Bloomberg. The Nigerian government presented an ambitious $32 billion plan at the conference, aiming to expand electricity access by 2030. Of this amount, private investors are expected to contribute $15.5 billion, while the remainder will come from public sources, including the World…

The Nigeria Extractive Industries Transparency Initiative (NEITI) has stated that Nigeria generated over 831.14 billion dollars in revenue from the oil and gas sector between 1999 and 2023. NEITI’s Executive Secretary,  Ogbonnaya Orji, stated this on Monday when he appeared before the Senate Committee on Public Accounts. He also stated that the country requires $20 billion annually for the next 10 years to develop its gas infrastructure. The committee, chaired by Senator Ahmed Wadada, was receiving briefings on the findings of NEITI’s 16-cycle reports covering 78 firms in the extractive industries. The NEITI boss also declared that Nigeria generated over…

Controversial singer Habeeb Okikiola, popularly known as Portable, has turned himself in at the Lagos State Criminal Investigation Department at Yaba. The state Police Public Relations Officer, Benjamin Hundeyin, confirmed this to the PUNCH on Wednesday. “Portable just turned himself in at the SCID Yaba. We have contacted Ogun State Police Command to come pick him up,” Hundeyin stated. Earlier, the Ogun State Police Command dismissed claims by controversial singer Habeeb Okikiola, popularly known as Portable, that he is undergoing psychiatric treatment. The police insist the singer remains wanted in connection with an alleged assault on government officials. In a…