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Punch Newspapers Sections • Increase between N2 and N4 reflecting impact of inflation, forex – Commission Our Reporters The Federal Government has again increased the electricity tariff payable by power consumers across the country. Approval for the hike in tariff was given by the Nigerian Electricity Regulatory Commission, as the increase which varies, based on different consumer classes, took effect from January 1, 2021. A few hours after the news of the tariff hike broke, the NERC issued a statement, denying a 50 per cent hike as had been reported in some circles (excluding THE PUNCH)...

Punch Newspapers Sections • We are facing hunger, insurgents dislodging farmers, says Mailafia • I will fight food inflation in 2021, oil industry in turmoil – Buhari Our Reporters Former President Olusegun Obasanjo on Tuesday said the country was not doing the right thing to improve its poor economy and tackle poverty. The former president, who said this in his New Year message at the Olusegun Obasanjo Presidential Library, Abeokuta, Ogun State,  cautioned Nigerian leaders to stop blaming God for insecurity, bad economy, poverty and other challenges confronting the country. Obasanjo s...

‘Femi Asu with agency report The Dangote refinery in Nigeria will be a “potential game-changer” once it comes online, according to a report by Pla...

Punch Newspapers Sections ‘Femi Asu and Dennis Naku The Rivers State Government and Shell Petroleum Development Company are on a collision course over the ownership of Oil Mining Lease 11 and the Kidney Island in Port Harcourt, the state capital. The state government said on Wednesday that it secured the enforcement of its interest in the acquisition of 45 per cent equity stake in OML 11 and Kidney Island. But SPDC, in a swift reaction, dismissed the purported takeover of Kidney Island asset by the Rivers State Government, describing such move as premature, saying the matter “is still the...

Punch Newspapers Sections Femi Asu, Ife Ogunfuwa and Temiloluwa O’Peters  The inability to meet market demand for cement coupled with low production volume by major cement companies in Nigeria have driven prices up by 35 per cent. An investigation by The Punch indicated that a 50kg bag of cement, which cost between N2,400 and N2,600 as of September this year now sells for N3,500. Stakeholders attributed the recent hike in price which started in October this year to insufficient supply of the product that resulted in artificial scarcity. It was gathered that though the price of cement from ...