Nigeria power firms need $2.5bn capital, new investors to improve electricity supply – FG

January 5, 2024 Blossom 0

According to the federal government, Nigerian energy providers lack the money to provide better power to Nigerians, estimated to be around N2 trillion, or roughly $2.5 billion. According to a Bloomberg story from yesterday, to revitalize the industry—which can hardly provide electricity to its 200 million inhabitants—new investment would be needed. Special Adviser to President Bola Tinubu on Energy, Olu Verheijen, said the companies are over-leveraged and under-capitalised, which has limited their capacity to […]

Labour kicks as FG slashes wage by N100bn

November 23, 2023 Blossom 0

On Wednesday, labour unions denounced the Federal Government for cutting N100 billion from the supplemental budgetary allocation meant for wage awards to federal civil servants, stating that this was not in accordance with their agreement with the government. Data obtained from the newly Revised 2023 Supplementary Budget, indicated that the government swapped the controversial N5bn presidential yacht votes for Navy barges, increased […]

Nationwide strike: ‘You don’t obey court orders – Labour drags FG

November 15, 2023 Blossom 0

The Nigeria Labour Congress (NLC) and the Trade Union Congress (TUC) have declared a nationwide strike. As the strike enters its second day, Organised Labour has stated that it has not received any court order from the Federal Government or any of its parties to stop the strike, which started on Tuesday. TUC President Festus Osifo, who spoke on Channels Television’s Sunrise Daily programme on Wednesday, knocked the government for “perpetually violating” court orders while expecting other institutions […]