Tunde a Bakare The Executive Chairman of the Economic and Financial Crimes Commission, EFCC, Ola Olukoyede has described online asset declaration, introduced by the Code of Conduct Bureau, CCB as an idea whose time has come and a huge step forward in the fight against corruption. He stated this on Monday, March 30, 2026 in a Goodwill Message at the opening of a national workshop themed: “Strengthening Compliance with the Code of Conduct for Public Officers in Nigeria and the Deployment of the Online Assets and Liabilities Declaration Systems (OALDS)”, in conjunction with the European Union, the Federal Ministry…
Author: Orientalnews Staff
Tunde Bakare The Nigeria Labour Congress on Tuesday besieged the Abuja Electricity Distribution Company facility in Abuja. The Union was protesting the controversial disengagement of nearly 900 workers and issuing a 48-hour ultimatum to the company to resolve the dispute or face a total shutdown of operations. The protest, led by NLC President Joe Ajaero, disrupted activities at the electricity distribution firm as workers vacated their offices in compliance with the union’s directive. Meanwhile, the Managing Director of Abuja Electricity Distribution Company, Chijioke Okwuokenye, said the company had commenced discussions with labour leaders to resolve the ongoing dispute. “We…
Joseph Bakare The recently floated N501.02 billion bond issuance has been described as a major step towards ending the prolonged liquidity in the power sector and repositioning the electricity market for long-term sustainability. Special Adviser on Strategic Communications and Media Relations to the Minister of Power, Adebayo Adelabu, Bolaji Tunji, in a statement recalled that the bond executed through the Nigerian Bulk Electricity Trading Plc (NBET) was part of a broader N4 trillion Presidential Power Sector Debt Reduction Programmeapproved by President Bola Tinubu. The statement quoted Adelabu, as saying that the move represents a strategic shift from ad hoc…
CNBC Report Key Points: George Etomi said liquidity risk remains the biggest threat to Nigeria’s power sector, followed by technical and capacity constraints. Nigeria’s transmission capacity remains around 4,000 to 5,000 megawatts, largely unchanged 13 years after privatization. Installed generation capacity has risen from about 7,000 megawatts to roughly 13,000 to 15,000 megawatts. A major challenge is evacuating generated power through the grid and delivering it to end users. The federal government has introduced a 501 billion naira power bond to help address sector debts and liquidity problems. Etomi said legacy liabilities remain unresolved and may require a more…
Yemisi Izuora Growth slowed in the Nigerian private sector at the end of the first quarter of the year as higher fuel costs led to a steep intensification of inflationary pressures. Also, output growth was only modest, but underlying demand reportedly remained resilient, leading to a further sharp rise in new orders. In turn, firms continued to expand their employment and purchasing activity. The headline figure derived from the survey is the Stanbic IBTC Purchasing Managers’ Index (PMI). Readings above 50.0 signal an improvement in business conditions on the previous month, while readings below 50.0 show a deterioration.…
Yemisi Izuora The Nigerian National Petroleum Company Limited (NNPCL) has recorded a significant milestone with the introduction and lifting of 950,000 barrels of Cawthorne Blend crude into the global market through the ultramodern FSO Cawthorne vessel, Nigeria’s first new crude oil terminal in 50 years. The development affirms media reports on the exportation of a new light sweet crude called Cawthorne, this March, under the Bayo Ojulari‑led NNPCL. It also reinforces the policy direction and sector reforms championed by His Excellency, President Bola Ahmed Tinubu, GCFR, in his capacity as Nigeria’s substantive Minister of Petroleum Resources. Over the weekend,…
Yemisi Izuora The National Insurance Commission (NAICOM) has projected a growth dynamism rate for the country’s insurance market given a wide spectrum of reforms that spanned over two decades. The Commission said the period between 2005 and 2025 represents one of the most transformative eras in the history of Nigeria’s insurance industry. Speaking at the book launch during the second anniversary of Daily Economy, an online publication in Lagos, Olusegun Ayo Omosehin, Commissioner for Insurance / CEO, NAICOM, recalled, “Before this period, the industry faced significant structural challenges, low capitalisation, weak public confidence, limited product innovation, and very low…
L-R: General Manager, Production, Punch Nigeria Limited, Mr Olayinka Popoola, President of the Chartered Insurance Institute of Nigeria (CIIN), Mrs. Yetunde Ilori; Publisher, Daily Economy, Nike Popoola; Chairman of Prestige Insurance Brokers Limited, Prince (Dr.) Feyisayo Soyewo, MFR; Director, Human Resources & Administration, National Insurance Commission, Mr. Rasaaq Salami; President and Chairman of the Governing Board of the Nigerian Council of Registered Insurance Brokers, Mrs. Ekeoma Ezeibe, FCIB, during Daily Economy’s second anniversary and launch of an insurance book titled “Trends in Nigeria’s Insurance Industry (2005–2025) & Selected Insurance Icons, ” in Lagos on Tuesday Yemisi Izuora The Publisher of…
But they may not be able add new volume to the market quickly Agency Report The US-Israel war on Iran and the ensuing difficulty of moving oil tankers through the Strait of Hormuz have severely disrupted global oil and liquefied natural gas (LNG) supplies. Crude oil price has surged past the US$100 per barrel mark. This has handed the leading crude oil producers of Africa a windfall. But except for Angola, few others will be able to ramp up production quickly. Among the biggest winners are Nigeria, Algeria, and Angola. Algeria has entered frantic negotiations with European buyers to…
Joyce Onwuka Pernod Ricard Nigeria, a member of the Pernod Ricard Group, a global leader in the spirits and wine industry, has reaffirmed its commitment to gender equity and inclusion, reinforcing its position as a champion of women in leadership and a convener of meaningful conversations at the intersection of culture and business. The company recently convened its Women’s Network, an intimate and thought-provoking gathering under the theme “Women Who Raise the Bar,” spotlighting women as cultural architects shaping business, creativity, leadership, and community. According to Pernod Ricard Nigeria’s Managing Director, Michael Ehindero, the women’s programme was anchored in…