By Ayo Kehinde Lagos State Electricity Regulatory Commission has unveiled plans to roll out pilot 24/7 electricity franchise zones across Lagos by October 2026, marking a major step in the state’s push to build a more reliable and independent power market. Speaking at a stakeholder engagement, Chief Executive Officer Temitope George said the initiative forms part of the commission’s short-term regulatory agenda aimed at transforming electricity supply through efficiency, innovation, and improved service delivery. The first two or three franchise zones will serve as dedicated districts with round-the-clock power, acting as test cases for wider reforms. Although locations are yet to be disclosed, the zones are expected to improve infrastructure management, billing transparency, and customer experience. Supporting this rollout, LASERC …
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By Ayo Kehinde The Centre for the Promotion of Private Enterprise (CPPE) has advised the Federal Government not to impose retaliatory sanctions on South African companies operating in Nigeria following renewed xenophobic attacks on Nigerians and other African migrants in South Africa. In a statement issued on Wednesday by its Chief Executive Officer, Dr Muda Yusuf, the economic policy advocacy group condemned the attacks. Still, it warned that punitive measures against South African investments could hurt Nigeria’s economy and weaken investor confidence. The CPPE’s position comes amid mounting public anger and growing calls for tougher action against South African firms operating in Nigeria. According to the organisation, while the attacks on Nigerians are unacceptable and must be decisively addressed by …
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President Bola Ahmed Tinubu has met with global investors in Paris, France, emphasising transparency and fiscal discipline, and explaining the rationale for the swift implementation of bold reforms. At the meeting, the Minister of Finance and Coordinating Minister of the Economy, Mr Taiwo Oyedele, highlighted Nigeria’s strong GDP growth in dollar terms in 2025. He said Nigeria recorded 11.2% GDP growth in dollar terms last year, a record that reinforced the country’s ambition to achieve a $1 trillion economy in 2030. Oyedele emphasised the government’s near-term priorities of translating reforms into results for the Nigerian people. He also pledged to publish quarterly financial data. The Director General of the Debt Management Office, Mrs Patience Oniha, assured investors of the government’s …
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By Ayo Kehinde Dangote Refinery has increased its depot price for Premium Motor Spirit (PMS) to ₦1,350 per litre, marking a ₦75 rise from the previous ₦1,275 per litre. Petroleum.org on Wednesday, confirmed the new pricing, while a senior refinery official said the adjustment has been implemented across all loading channels. “The new pricing template has been activated across the board. All loading points have been updated, and marketers are already responding by adjusting their depot prices”, the official said. The latest increase comes barely a week after the refinery raised its ex-depot price from ₦1,200 to ₦1,275 per litre, indicating a rapid shift in pricing within the downstream sector. It is the second ₦75 increment recorded within seven days …
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