Business

Progress Report On The Nigeria-Morocco Gas Pipeline

Progress Report On The Nigeria-Morocco Gas Pipeline

🚨BOOM PROGRESS REPORT ON THE NIGERIA-MOROCCO GAS PIPELINE : ●MD/CEO of NNPCL, Mr Mele Kyari says Final Investment Decision(FID) to be made by December. ●Discussions are progressing as Nigeria aims to establish gas pipelines traversing thirteen African nations and extending to Europe. ● ⁠The agreement to build the $25bn, 48” x 5,300Km pipeline from Nigeria to Dhakia (Morocco) was signed by the NNPCL in 2017. ●Project is expected to transport around 30billion cbf of gas annually when completed. ● Gas, as an alternative source of energy and a potent means of economic diversification, remains a priority for the President Tinubu-led…
Read More
From Geometric Power To Alaoji Power Plant: Gov Otti Please Look Before You Leap – Dr. Engr. Odo Ijere

From Geometric Power To Alaoji Power Plant: Gov Otti Please Look Before You Leap – Dr. Engr. Odo Ijere

FROM GEOMETRIC POWER TO ALAOJI POWER PLANT : GOVERNOR OTTI, PLEASE LOOK BEFORE YOU LEAP. It was nice watching Governor Alex Otti's dancing steps towards the Alaoji Power Plant on a mission to find enduring answers to the perennial problems of power supply inadequacy plaguing our socioeconomic life. Everything was looking good at first sight during the facility guided tour by the Governor while in the company of the man who could not manage EEDC well enough to guarantee passable paltry power supply for Abians across the board, Chief, Sir Emeka Offor, Chairman of Chrome Group, Interstate Electric, EEDC et…
Read More
From Geometric To Alaoji Power Plant, Gov Otti Pushes Ahead For Stable Electricity In Abia

From Geometric To Alaoji Power Plant, Gov Otti Pushes Ahead For Stable Electricity In Abia

FROM GEOMETRIC TO ALAOJI POWER PLANT, GOV OTTI PUSHES AHEAD FOR STABLE ELECTRICITY IN ABIA Having literally solved the problem of power generation and distribution in Aba and eight other local governments, through the Geometric Integrated Power Project, Abia State Governor, Dr. Alex Otti, OFR, has shifted his focus to the remaining eight local governments in the state, beginning from Umuahia, the state capital. In a bold move to achieve uninterruptible power supply across the state, Governor Otti on Tuesday embarked on a tour of the Alaoji Power Generating Plant at Alaoji, Ugwunagbo Local Government Area, on the outskirts of…
Read More
Cable Cut: MTN Gives Update On Services

Cable Cut: MTN Gives Update On Services

Cable Cut: MTN Gives Update On Services Following subsea cable disruptions on Thursday, Bayobab Group, a subsidiary of MTN Group, has announced the successful restoration of its operations. The telecom operator disclosed this in a statement on Tuesday. MTN said that despite the challenges presented by the cable disruptions, its subsidiary demonstrated its capabilities by swiftly recovering over 3 Terabits per second (Tbps) of capacity across its footprint. Through efficient rerouting of traffic and the activation of new cables, the company has bolstered its network resilience, ensuring the continuity of services for its customers, the operator stated. The statement reads,…
Read More
Naira Appreciation Continues As USD Supply Surges At Forex Market

Naira Appreciation Continues As USD Supply Surges At Forex Market

Naira Appreciation Continues As USD Supply Surges At Forex Market The Naira continued its appreciation against the US Dollar at the foreign exchange market as USD transactions surged. FMDQ data showed that the Naira appreciated to N1,572.82 per USD upon resumption of trading on Monday compared to 1,602.75 on Friday. The figure represents N29.93 appreciation compared to the N1602.75 it traded on Friday. Similarly, this is first since March 5, 2024, that the country’s currency crossed to N1,572.82 per USD mark from an average of N1,600 per USD. This is because USD transactions surged 2.20 per cent, reaching $140.45 million…
Read More
Gov Otti To Flag-off The Construction Of The 30 Km Arochukwu-Ndi Okereke – Ozuabam

Gov Otti To Flag-off The Construction Of The 30 Km Arochukwu-Ndi Okereke – Ozuabam

PRESS RELEASE His Excellency, Dr. Alex Otti OFR will on Wednesday, 20th March 2024 flag-off the construction of the 30 km Arochukwu - Ndi- Okereke - Ozuabam road. The venue for the flag-off ceremony is Amuvi Roundabout Arochukwu while time is 1:00pm. It's worthy to note that this road project is one of the many road projects that Abia state Government has embarked upon at this time as part of the government's strategic road infrastructure development Initiative aimed at ensuring that all roads in the State are put in very good motorable condition. Therefore, Traditional Rulers from the area, President…
Read More
Investors Gain N2.1 Trillion As Stock Market Sustains Bullish Trend

Investors Gain N2.1 Trillion As Stock Market Sustains Bullish Trend

Investors Gain N2.1 Trillion As Stock Market Sustains Bullish Trend The stock market sustained bullish trend last week as investors on the Nigerian Exchange Limited, NGX, gained N2.1trillion. Though the market recorded mixed sentiment, the gains outweighed the losses as the NGX market capitalisation, which represents the total value of investment on the Exchange, surged to N59.416 trillion at the close of trading on Friday from N57.293 trillion the previous week. In similar manner, another stock market performance indicator, NGX All Share Index, ASI increased by 3.7% to 101,085.25 points from 101,330.85 points. Analysis of transactions last week showed that…
Read More
Submarine Cable Causing Network Issues Repair May Last Up To 5 Weeks – MainOne

Submarine Cable Causing Network Issues Repair May Last Up To 5 Weeks – MainOne

Submarine Cable Causing Network Issues Repair May Last Five Weeks – MainOne MainOne, a West African digital infrastructure service provider, says repairing its undersea submarine cables might take one to two weeks, with additional 2-3 weeks of transit time. On Thursday, subsea cable providers were affected by major cuts to undersea submarine cables, disrupting internet traffic in major parts of the continent. This disrupted the services of banks and telecommunications companies in Nigeria. In a statement on Friday, MainOne said an additional two to three weeks of transit time may be required for a vessel to pick up the spares…
Read More
NCC Gives Reason For Disrupted Data, Voice Services

NCC Gives Reason For Disrupted Data, Voice Services

NCC Reveals Reason Behind disrupted Data, Voice Services The Nigerian Communications Commission says a combination of cable faults resulting in equipment faults on the major undersea cables along the West African Coast has negatively impacted data and fixed telecom services in several West African countries. A statement on Friday by NCC said the countries included Nigeria, Ghana, Ivory Coast, Senegal, and Cote de Ivoire, among others. It said the cuts occurred somewhere in Cote d’Ivoire and Senegal, with an attendant disruption in Portugal. “Cable companies – West African Cable System (WACS) and African Coast to Europe (ACE) in the West…
Read More
US House Of Reps Passes TikTok Ban Bill

US House Of Reps Passes TikTok Ban Bill

United States House Passes TikTok Ban Bill The House of Representatives by a wide margin passed a bill that would make it illegal to distribute or host TikTok in the U.S. — effectively blocking it from some 170 million American users — unless Chinese owner ByteDance divests its interest in the popular app. It’s the first time a congressional bill has passed that would outlaw an internet app. The fears among many American lawmakers, who see TikTok as a national security threat: that the Chinese regime could demand access to data on TikTok’s U.S. users or somehow compel it to…
Read More