Author: Mary Osisanya-Bello

The Federal Government paid over ₦633.30bn on electricity subsidy in the first quarter of 2024, findings have shownAccording to the Nigerian Electricity Regulatory Commission quarterly report, the sum represented a 150.5 per cent increase from ₦252.76 billion in Q4, 2023.The sum paid in the first three months of the year is higher than ₦628.61bn paid from January to December 2023.A breakdown of the ₦633.30bn showed that subsidy gulped ₦36.02bn in the first quarter, ₦135.23bn in the second quarter, ₦204.6bn in the third quarter and ₦252.76bn in the fourth quarter of 2023.The electricity market regulator blamed the increase on the government’s…

The fuel crisis being experienced by Nigerians is yet to abate even as petrol vessels birthed at Lagos and other ports in the country.Our correspondent observed that the queues in Abuja, Lagos and other parts of the country persisted on Tuesday as the tanks run dry in filling stations.Dealers who spoke to The PUNCH disclosed that petrol vessels were berthing at the ports one after the other, saying this may not be enough to rescue the situation.According to them, depot owners now supply fuel to their filling stations only due to low supply.“The depots are not wet yet. We are…

The President and Chairman of the Governing Council of the Chartered Institute of Personnel Management of Nigeria, Ahmed Gobir, has reiterated the importance of people management in driving organisational excellence.He said this during the CEO/CHRO/HRD Forum organised by the Chartered Institute of Personnel Management of Nigeria, themed “Strategic People Management: Leveraging Your Greatest for Business Success,” held recently in Lagos.Gobir highlighted the significant role that effective people management plays in driving organisational excellence and achieving sustainable success.According to the CIPM president, the forum is beyond being just an event, saying it is an essential platform for sharing knowledge, exchanging ideas,…

The Nigerian Educational Loan Fund on Tuesday said it would disburse the sum of N850M to institutions as fees Today (Wednesday).This is apart from the over N1.7Bn that has been disbursed to about 20,000 students.The Managing Director of the Fund, Akintunde Sawyer, made this known during an ongoing press briefing in Abuja.“The sum of N850M will be leaving the account of NELFUND Today to institutions. This is apart from the N1.7Bn naira that has already been disbursed.”Earlier, Sawyer revealed that the Fund had disbursed institutional fees to 20,000 students through their institutions.He also noted that a total of 260,000 loans…

The Federal Government of Nigeria is aiming to significantly reduce the country’s fish import bill of N138 billion by empowering women and youths in the fishing sector.This strategy is part of broader efforts to boost local fish production and reduce reliance on imports. High import bill: Nigeria currently imports about 2.4 million metric tones of frozen fish annually. Gender inclusion: The government believes that empowering women and youths can enhance fish production and reduce imports. Potential benefits: Increased local fish production, job creation, and foreign exchange savings. By investing in training, technology, and infrastructure for women and young people in…

The Nigeria Youth Investment Fund (NYIF) is a government initiative designed to support young entrepreneurs. To apply for the NYIF, follow these steps: Eligibility Criteria Before applying, ensure you meet the following criteria: Age: Between 18 and 40 years old Nigerian citizenship Valid National Identification Number (NIN) A viable business idea or existing business Application Process Create an Account: Visit the official NYIF portal and create an account. You will need to provide personal and business information. Complete Application Form: Fill out the online application form with details about your business, including its nature, financial projections, and market analysis. Upload…

Zenith Bank has signed documents for a N290 billion Rights Issue and Public Offer, exceeding the N230 billion required for recapitalization. The bank’s CEO, Dame Adaora Umeoji, expressed enthusiasm for the offer, which allows existing shareholders to consolidate their position and new investors to join. The proceeds will fund expansion across Africa and internationally, technology infrastructure, and working capital.  The offer opens on August 1, 2024, and closes on September 9, 2024. Applications can be made through various electronic channels, including Zenith Bank’s internet banking, mobile app, and branches nationwide. The CEO assured investors of the bank’s commitment to dividend…