The Pan African Digital Initiatives Summit and Exhibition (PADISE 2022), which is scheduled to hold Thursday and Friday, 21 and 22 July at the Oriental Hotels, Victoria Island, Lagos is regarded as the biggest destination for technology enthusiasts and experts in West Africa this season. The theme of this year’s summit and exhibition, “Leveraging Right Policies and Technologies in Taming …

Baring any urgent intervention from the management of Nigerian Ports Authority (NPA), dockworkers in Lagos seaports appears set to truncate normal operations at the AP Moller Terminal (APMT). The marine workers angst against the foremost terminal operators is not unconnected with the inability of the two bodies to agree on a mutually acceptable condition of service for the mariners who …

For at least the fourth time this year, the national grid has collapsed again. This latest electricity showdown had at 12:23 pm on Wednesday as the supply crashed to around 40 megawatts. According to The Nation, out of the 11 distribution companies across the country, only the Abuja Electricity Distribution Company recorded 40Mw, while others had zero. The power outage has been …

Bread makers will commence a four-day warning strike on Thursday over the rising cost of baking materials. The producers, all members of the Premium Breadmakers Association of Nigeria (PBAN), said the duration of the strike action would be extended if the government fails to positively step in. In a statement by PBAN spokesman, Babalola Thomas, the association said their bakeries …

Nigeria and Africa must strengthen their manufacturing capacities in order to produce vaccines, according to World Trade Organisation (WTO). WTO Director-General, Dr Ngozi Okonjo-Iweala said on Tuesday in Abuja that it was not good that Africa imported 99 percent of its vaccines and 95 percent of pharmaceutical products. During her visit to the Ministry of Industry, Trade and Investment as …

The Nigerian National Petroleum Company (NNPC) Limited has said that it has no hand in the decision of oil marketers to increase petrol pump price. Reports on Monday evening claimed that NNPC issued a notice to oil marketers, approving an upward review in the pump price from N165 per litre to N179 per litre as well as the ex-depot price …

Unilever Nigeria Plc recorded a turnover of N43.8 billion in the financial year which ended 30 June 2022, representing 35 percent topline growth over the N32.4 billion posted in the corresponding period in 2021. According to the unaudited interim report just released, the result showed that the company recorded a gross profit of N14.2 billion for the period that ended …

The Central Bank of Nigeria (CBN) on Tuesday raised the Monetary Policy Rate (MPR), through which interest rate is measured, from 13 percent to 14 percent, explaining that the measure is to control rising inflation. MPR is the baseline interest rate in an economy, around which other interest rates in an economy revolves. Last month, Nigeria’s inflation rate reached a five-year high …

President Muhammadu Buhari has said that the transformation of the publicly-owned Nigeria National Petroleum Corporation to the commercial entity now known as Nigerian National Petroleum Company (NNPC) Limited  Limited would strengthen the capacity and market relevance of Nigeria’s oil industry. NNPC Limited came into effect on 1 July, and one of benefits of the Petroleum Industry Act (PIA) 2021. The …

The crisis and confusion in the petrol supply chain persists as the scarcity of Petroleum Motor Spirit (PMS) persists across the country. Marketers, who have the product to dispense, sell at arbitrary prices above the N162/N165 approved for a litre. They blame this on the hike in ex-depot prices. Marketers, who shut their filling stations to consumers, say they would …