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CTC: Power consumers to pay for leaving DisCos’ networks


The Competition Transition Charge (CTC) is a new rule to make prospective Eligible Customers (EC) and other consumer class, compensate the 11 electricity Distribution Companies (DisCos) for leaving their networks to buy power directly from Generation Companies (GenCos). Newsmen analysed this rule as contained in Section 28 of the Electric Power Sector Reform Act (EPSRA) 2005 and enforceable by the ...

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Edo Government Plans 369-Unit Estate in Ekpoma


Plans to increase the housing stock have received a boost in Edo State as the government moves to develop a 369-unit estate in Ekpoma, Esan West Local Government Area. The Executive Chairman, Edo Development and Property Agency (EDPA), Isoken Omo, who disclosed this in Benin City, the state capital, said the agency is spearheading the development of the project. Omo ...

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10 pipeline explosion victims die in hospital due to severe burns

fire explosion

The Lagos State Government said on Monday that 10 victims of the July 4 Ijegun pipeline explosion have died due to severe and high degree burns suffered from the inferno. The Permanent Secretary, state Ministry of Health, Dr. Titilayo Goncalves, made this known on Monday in Lagos. Goncalves said that three of the victims died at the Lagos State University ...

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Estate developer boosts sector with N3.8b The Pacific tower in Lagos

housing shortage

The latest data from Nigeria’s National Bureau of Statistics showed that the real estate service sector swung back to positive growth and expected to perform better this year. Senior officials of Global Property Partners (GPP) are also upbeat about Nigerian commercial property sector, despite some analysts’ expectation that the market will remain sluggish. They believe that the current economic climate ...

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FG to inaugurate 650 housing units in Asaba


The Federal Government’s special housing intervention programme, Family Homes Funds, is set to inaugurate an affordable housing project in Asaba, Delta State. The estate, developed by the FHF in partnership with Delta State Government, is made up of 650 housing units for low-income earners and will be inaugurated by the Vice- President, Prof Yemi Osinbajo, alongside the Managing Director of ...

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FMBN engages KPMG to provide 5-year action plan


The Board of Directors of Federal Mortgage Bank of Nigeria (FMBN) has engaged KPMG, a leading management consulting and business improvement firm, to provide top-level corporate advisory services for the bank. The MD/CEO of the FMBN, Arc. Ahmed M. Dangiwa revealed the development during the 2019 management and board Annual Retreat, which held recently in Uyo, Akwa Ibom. The move, ...

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Help us with infrastructure, Buhari urges Islamic Development Bank


President Muhammadu Buhari has solicited the support of the Islamic Development Bank to address Nigeria’s infrastructure deficit. The President’s spokesman, Femi Adesina, said this in a statement. Adesina said the President made the call during a bilateral meeting with Dr. Mansur Muhtar, Vice President, Islamic Development Bank on the margins of the AU Summit in Niamey, Niger Republic. According to ...

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Kano to equip hospitals with facilities in four new emirates


Ganduje disclosed this on Saturday when he paid a condolence visit to the Emir of Kano, Alhaji Tafida Abubakar, over the death of his son, Alhaji Aliyu Tafida. The governor assured that all the hospitals would be equipped with the state-of-the-art equipment to cater for all the medical needs of the emirates. According to him, such hospitals would take away ...

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Lagos residents wail over planned forceful eviction


Over 300 residents/families of Victory Park Estate sitting on about 33 hectares of land in Osapa London, along Lekki-Epe Expressway, Lagos have called on President Muhammadu Buhari to intervene over plans to evict them from their properties. Speaking with journalists in Lagos, their solicitor, Mr. Benjamin Atebe urged Buhari to call concerned authorities to order, as they had brought upon ...

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PFAs invest N6.5tn of pension fund in FG securities


Out of the total N9.03tn pension assets as of March 31, 2019, about N6.5tn, representing 72.06 per cent of the entire fund, was invested in Federal Government securities by Pension Fund Administrators (PFAs). The figures are contained in a report for the industry obtained by our correspondent on Friday from the National Pension Commission. An analysis of the report showed ...

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