Author: damazah@gmail.com

***We’re resetting the sector – Power minister  ***FG, GenCos disagree over N6.2trn debt    By Emeka Anaeto, Obas Esiedesa and Sebastine Obasi Current updates on the electricity sector development has indicated that about N10 trillion public finance has either been frittered away or trapped in the sector value chain in form of interventions. But the Minister of Power, Joseph Tegbe said federal government was now resetting the sector by addressing a long-standing structural deficiencies that have prevented the sector from reaching its full potential. He said the deficiencies have been in the sector for over 40 years. Tegbe listed the measures…

In a move to provide a new financing solution to the Nigerian oil and gas service sector, and accelerate local content growth, the Nigerian Content Development and Monitoring Board (NCDMB) and the Bank of Industry (BOI) on Friday in Lagos inaugurated the Investment Committee of the Nigerian Content Equity Fund (NCEF) – a groundbreaking $100 million financing product designed to avail long-term financing to service companies and provide access to funds in exchange for equity rather than traditional debt instruments. The committee was inaugurated by the Executive Secretary of NCDMB, Felix Omatsola Ogbe, setting the stage for the rollout of…

The Manufacturers Association of Nigeria (MAN) has called for urgent tax harmonisation, improved infrastructure, reliable energy supply and a predictable regulatory environment to strengthen the country’s manufacturing sector. The appeal was made at the 41st Annual General Meeting (AGM) of the Ogun Branch of MAN in Abeokuta, with the theme: “Building a Resilient Manufacturing Sector: Surmounting the Challenges of Fiscal and Regulatory Policies and Tariffs.” Speaking at the event, MAN President, Francis Meshioye, said manufacturers had borne the brunt of the Federal Government’s economic reforms over the past three years, resulting in rising production costs, declining investments and mounting operational pressures.…

Apps are back, or maybe they never left in the first place. While some people debate whether people will shift away from apps as AI agents make accessing online services more efficient, we’ve found the App Store to be alive and well, with a recent explosion of fun, creative, and innovative tools, experiences, and other indie efforts. Some of the more recent launches may be attributed to the rise of AI coding, which has enabled people to ship software more quickly, and allowed novices to participate in the app ecosystem. According to one report, new app launches have soared in…

While Uefa members are among the richest on the planet, many other nations rely on Fifa funding for basic infrastructure.While the AFC opposes Infantino’s plan, unlike Uefa it has not threatened to boycott Fifa competitions. AFC members would not be obliged to vote against the proposals. Rogers Byamukama, of the Ugandan Football Federation, argued any avenue that could lead to more resources for nations like his should be explored.”First and foremost, you need to understand that football is a very expensive venture, especially on the African continent where the resources are not easy to come by,” he told Newsday on…

Newly obtained troves of investigation records have thrown light on how Timipre Sylva, a former governor of the oil-rich Bayelsa State, sourced the money he allegedly threw at last year’s failed coup against President Bola Tinubu and his administration. These findings came from reviewing the confidential files, containing over 7,400 pages, that investigators brought together for the prosecution of suspected conspirators who allegedly played various roles in the failed coup. Many of these suspects are now facing charges at either the General Court Martial or the Federal High Court in Abuja. The documents this newspaper reviewed include suspects’ extrajudicial statements,…

Lucas Herrington, fresh off becoming the youngest Australian to start a game at a men’s World Cup, is set to become the second-most expensive footballer in Australian history with a move to newly-promoted Premier League side Hull City. Latest reports suggest a fee of approximately £12.6m ($24.1m), with a further £4.4m ($8.4m) in add-ons, which comes in just shy of the Australian record of £15m plus £5m in add-ons ($38.3m in total) that Leicester paid Stoke City to sign Harry Souttar in 2023.It would set a new selling high-water mark for his current club, Colorado Rapids, and eclipses the decade-old…

Businessman Farooq Oreagba, popularly known as Mr. Steeze, has reflected on the highs and lows of his financial journey, revealing that he went from being a dollar millionaire at the age of 30 to working as a labourer in England just five years later after losing his banking job. Oreagba made the revelation during an appearance on Ebuka Obi-Uchendu’s MENtality show, co-hosted by Banky W, where he spoke about wealth, materialism and the importance of life over money. During the conversation, Oreagba posed a hypothetical question to Ebuka to illustrate his belief that life is more valuable than any amount…

*Imole campaign council alerts nation, international community, IGP on unsettled political climate in state *Olawepo-Hashim urges people to stand with party despite gov’s alleged disloyalty, reject Tinubu’s endorsement *AAC: debate boycott shows APC, ADC, others unprepared to lead state *Oyintiloye charges police on neutrality, security  Chuks Okocha in Abuja, Yinka Kolawole in Osogbo, and Sunday Ehigiator in Lagos Osun State Governor, Ademola Adeleke, has charged Osun residents and voters to ignore threats from the opposition All Progressives Congress (APC) and troop out en masse to vote for his re-election on August 15. Addressing worshippers during a church service at the Winners Church, in…

Legislation recognising English as an official language of New Zealand has been passed by parliament, prompting derision from linguists and legal experts and a now-viral broadside from a Māori MP who called it “pathetic”.The English language bill became law on 30 July giving English, which is spoken by 95% of the country, the same official status as te reo Māori (Māori language) and New Zealand sign language.The bill formed part of a coalition deal between the centre-right National party and the minor populist New Zealand First party, whose leader Winston Peters, has long opposed affirmative initiatives for Māori. National needed…