₦airaland Forum

madridguy:
I blame the Nigeria government though.

Ikinternational:
Makes sense
I literally was about to type the guy doesn't understand the fight

Okoroawusa:
This write up didn't really explain anything. I thought it will be either a revelation of an information the writer discovered or an indepth analysis of the current situation.

The Nigerian Electricity Regulatory Commission (NERC) says it has not issued any directive on the increase of electricity tariff from January 1, 2023.

Media reports had claimed that the commission finalised plans to increase the electricity tariff.

The reports also noted that electricity distribution companies (DisCos) would soon inform customers about the development.

Refuting the claims, Usman Abba Arabi, NERC’s spokesperson, told TheCable that the commission has not approved a new electricity tariff.

The Commission (NERC) has not approved any new electricity tariffs for any of the electricity distribution companies within the Nigerian Electricity Supply Industry,” he said.

“No new electricity tariff has been approved. Nigerians should ignore any news reports about new electricity tariff coming up on the 1st January 2024.”

In June 2023, the federal government had hinted at removing the N50 billion monthly electricity subsidy in the sector owing to the revenue shortfalls.

However, in November 2023, Adebayo Adelabu, minister of power, said President Bola Tinubu stopped the increase in electricity tariff, insisting on the payment of subsidy on power consumed in the country.

In its third-quarter (Q3) report, NERC had said the government incurred a subsidy obligation of N204.59 billion during the period.

The report noted that the subsidy expenses were incurred due to the lack of cost-reflective tariffs across all DisCos.

Blacklion3:
Shut up your dirty mouth Mr Plutoman

SUPERBLOOM:
You are a scammer they even exposed you on the religious section and the Caritas telegramgroup.
You are nothing but a fraud

SUPERBLOOM:
Wow I remember this scammer from family section

Seun:
See the Romance section.

TruthsFM:
Wow, what a great advice here

Tope2580:
Separately, but you can post the all the applications together via DHL

madridguy:
Honour well deserved.

Thank you Prof. Yakubu for your service to humanity.
Thank you for standing firm on equity and justice.

Liberia’s National Electoral Commission (NEC) has bestowed an “honorary tribute” on Mahmood Yakubu, chairman of the Independent National Electoral Commission (INEC), for “sustaining the country’s democratic journey”.

Yakubu was honoured in Liberia at the commissioning of a workspace for the country’s NEC staff.

Davidetta Lansanah, Liberia’s NEC chairperson, invited her Nigerian counterpart for the commissioning of the workspace.

Lansanah commended the technical support rendered by INEC in establishing the workspace and bolstering the electoral process in Liberia.

She expressed gratitude for the indispensable contributions made by Yakubu and INEC in sustaining Liberia’s democratic journey”.

She also commended Yakubu’s advocacy for resource sharing among regional electoral management bodies (EMBs).


On his part, Yakubu expressed appreciation to Liberia’s NEC for allowing him to dedicate the workspace.

The INEC chairman highlighted the value of the workspace in enhancing the operational capabilities of staff, especially through the information and technology facilities.

Yakubu recalled INEC’s assistance during Liberia’s 2017 presidential election and the joint efforts of information technology (IT) experts from both countries in addressing concerns regarding voters’ registrations.


He called for the prioritisation of peer support among regional election management boards amid the rising cost of conducting elections.

The event was attended by Christine Umutoni, United Nations resident coordinator in Liberia; Manir Ibrahim, charge d’affaires of the Nigerian embassy in Liberia; representative of the Liberian Bar Association, and other well-wishers of the commission.

In November, Liberia’s NEC announced Joseph Boakai as the country’s presidential election winner.

Boakai won with 50.64 percent votes to defeat incumbent George Weah

Bloomberg, a US-based media organisation, on Friday, predicted that the naira will decline further in 2024.

According to the publication, the naira is poised for its worst year since the return to democracy in 1999 adding that analysts are predicting further depreciation in 2024.

The report said naira fell 55 percent this year to N1,043 per dollar at the official market on Thursday.

The decline, Bloomberg said, made the naira the third worst-performing currency in the world behind the Lebanese pound and the Argentine peso — among 151 currencies tracked by the media firm.

It reported foreign reserves in Nigeria are at the lowest in six years with most of them burdened by overdue short-term overseas obligations.

In the non-deliverable forwards market, according to the report, the naira’s 12-month contract is trading near a record low of N1,294.44 to the dollar.

The depreciation began in June 2023, after the Central Bank of Nigeria (CBN) unified all segments of the forex exchange (FX) market, allowing the currency to trade more freely.

Thereafter, President Bola Tinubu scrapped the petrol subsidy.

The publication said the end of the petrol subsidy and naira depreciation fueled inflation, which is at 28.2 percent, while the benchmark interest rate is at 18.75 percent.

“The negative real interest rate has dissuaded overseas investors,” the report said.

Vetiva Capital Management Ltd told the publication that the naira may depreciate further unless Tinubu’s government attracts international investments or ramps up oil output.


Bloomberg’s prediction is at variance with that of Bismarck Rewane, chief executive officer, who said Nigeria’s exchange rate is expected to rise in 2024.

Olayemi Cardoso, the apex bank governor, also projected that exchange rate pressures are expected to reduce significantly in the coming year.

The National Bureau of Statistics (NBS) disclosed this in its latest capital importation report for the third quarter (Q3) of 2023 released on Friday.

Capital importation can be explained as bringing in capital from abroad to fuel investment, trade, and manufacturing within a country.

Nigeria’s capital imports for the first nine months of 2023, comprising Q1 – Q3 totalled $2.82 billion, with $1.13 billion imported in Q1, $1.03 billion in Q2 and $654.65m in Q3 2023.

The number of states that did not record investments dropped from 28 states in the first half of 2023 to 27 in the first nine months after Abia attracted a remarkable $150.09 million in Q3 – the only state to witness such a dramatic turnaround within three months.

According to the NBS report, the 27 states that failed to attract foreign investment in the first nine months of 2023 include:

..Bauchi
..Bayelsa
..Benue
..Borno
..Cross River
..Delta
..Ebonyi
..Edo
..Enugu
..Gombe
..Imo
..Jigawa
..Kaduna
..Kano
..Katsina
..Kebbi
..Kogi
..Kwara
..Nasarawa
..Osun
..Oyo
..Plateau
..Rivers
..Sokoto
..Taraba
..Yobe
..Zamfara

LAGOS CONTINUES TO DRAW CAPITAL EVEN AS OTHERS FALTER

In the review period, Lagos took the lead, outshining others — including the federal capital territory (FCT) — to top the list of states that attracted the most investments.

Analysis by TheCable Index shows that the country’s major commercial city attracted $1.79 billion, representing 64 percent of the total capital inflow into Nigeria.

In April, Babajide Sanwo-Olu, governor of Lagos, assured investors that the state is the right place for investments and “the crown subnational jewel of the African economy”.

He said Lagos was ripe for investments in financial technology, education technology, health technology, business process outsourcing (BPO), talent training and placement, or physical infrastructure like data centres, among others

According to the NBS report, FCT emerged as the second top investment destination with $799.21 million — representing 28 percent of the total capital inflow in the country in the first nine months of the year.

Other states that attracted foreign investments in the nine months are Abia ($150.09 million), Akwa Ibom ($39.13 million), Ogun (27.09), and Adamawa ($4.5 million).

Anambra attracted $4 million, Niger $1.50 million, $200,000 and Ekiti $38,250.

01Deji:
Unfortunately enough that's already this is already too late. Let bygone be be bygone