Author: Vardiafrica

The Nigeria Labour Congress (NLC) has rejected the proposed N6tn bailout for power generation companies, saying repeated financial interventions have not improved electricity supply nationwide. The NLC President, Mr Joe Ajaero, who said this in a statement on Sunday in Abuja, called for urgent structural reforms in the energy sector. “The proposed N6tn bailout is a mere symptom of deeper structural failures in the power sector, and repeated financial interventions have not translated into improved electricity supply for Nigerians. “We cannot continue to deploy public funds to sustain a fundamentally flawed system, while ordinary citizens bear the burden of inefficiency…

The Dangote Petroleum Refinery says it has successfully completed the sale of 12 cargoes of refined petroleum products, totalling 456,000 tonnes (456KT). Briefing journalists on Sunday, the organisation said the shipments by traders to countries including Cote d’Ivoire, Cameroon, Tanzania, Ghana, and Togo mark its petrol export since reaching a production capacity of 650,000 barrels per day (bpd) in February. “The products were sold on a FOB (Free on Board) basis to the end international traders for deliveries to the above-identified countries of export,” the refinery said. “This accomplishment underscores the Dangote Refinery’s capability to not only meet but exceed…

The Nigerian Content Development and Monitoring Board (NCDMB) has reaffirmed its commitment to delivering a world-class hospitality and conference facility in Yenagoa by December 2026, as part of efforts to strengthen critical infrastructure for Nigeria’s oil and gas industry. The Executive Secretary, Engr. Felix Omatsola Ogbe, (FNSE, FIPS), gave this assurance today, while hosting stakeholders from Edison Properties and Megastar Technical and Construction Company during a one-day project management tour and workshop at the Nigerian Content Tower, Yenagoa. Engr. Ogbe stressed the importance of completing and commissioning the project within schedule, noting that the facility is critical to unlocking economic…

The Socio-Economic Rights and Accountability Project (SERAP) has called on Senate President Godswill Akpabio to compel the Public Accounts Committee to publish the names and positions of all officials implicated in the alleged ₦210 trillion missing or unaccounted for from the Nigerian National Petroleum Company Limited (NNPCL). In a letter dated March 21, 2026, and signed by SERAP Deputy Director Kolawole Oluwadare, the organisation urged the Senate to release audit reports, financial records, official communications, and timelines for appearances of implicated officials. SERAP also demanded that full records of the proceedings, including minutes, submissions, and evidence, be made public to…

The Abdulrahman Mohammed-led Peoples Democratic Party (PDP) on Saturday inaugurated over 20 committees for the party’s national convention slated for March 29 and 30. They include the screening, accreditation, publicity, transport and logistics, medical, and security committees. The event, which was held in Abuja, was attended by party chieftains, including Mohammed, the party’s National Secretary, Samuel Anyanwu; the National Organising Secretary, Umar Bature; former governor of Benue State, Samuel Ortom; Senator Natasha Uduaghan-Akpoti, among several others. The committees are expected to ensure that the planned convention is executed smoothly, and substantive leadership of the party is elected to pilot the…

Iran has fired missiles towards the Diego Garcia base, according to US officials, in a move that underscores escalating tensions in the region. Two intermediate-range ballistic missiles were reportedly launched towards the base, located in the Chagos Islands, though neither struck their target. One missile was intercepted by a US warship, while the other failed during flight, officials said. The UK Ministry of Defence condemned the incident, describing it as a threat to British interests and allies, and confirmed that military assets, including RAF jets, remain active in defending personnel in the region. The development comes after the UK granted…

The Trump administration has temporarily relaxed sanctions to allow the sale of Iranian oil at sea for 30 days, aiming to ease rising global energy prices driven by the ongoing U.S.-Israeli conflict with Iran. The waiver will bring some 140 million barrels of oil ⁠to global markets and help relieve pressure on energy supply, Treasury Secretary Scott Bessent posted on X. The move reflects White House worries that the surge in oil prices after nearly three weeks of U.S. and Israeli strikes on Iran will hurt U.S. businesses and consumers ahead of the November midterm elections, when President Donald Trump’s…

The United States has deployed multiple MQ-9 drones and about 200 troops to Nigeria to support the fight against Islamist militants, according to US and Nigerian officials who spoke to Reuters. US officials said the troops are not embedded with Nigerian frontline units, while the drones are focused solely on intelligence gathering and are not conducting airstrikes. The US military previously operated a $100 million drone base in neighboring Niger Republic, with about 1,000 troops tracking militant activity across the Sahel. However, the facility was shut down in 2024 after Niger’s military government ordered US forces to leave. A US…

Meta has unveiled a new initiative aimed at attracting top digital creators to Facebook, offering payments of up to $3,000 (£2,260) per month under its “Content Fast Track” programme. The scheme targets influencers with more than one million followers on rival platforms such as Instagram, TikTok, and YouTube. According to Meta, the programme is designed for “established creators who are new to or rediscovering Facebook,” as the company seeks to regain its appeal among content producers. Eligible creators are required to post at least 15 short-form videos, known as reels, each month. The payments—capped at three months—translate to roughly $200…

The Dangote Refinery has increased its ex-depot price of Premium Motor Spirit (petrol) to N1,245 per litre, marking a fresh adjustment in Nigeria’s downstream oil sector. The new rate represents an increase of about N70 from the previous price of N1,175 per litre, raising concerns among marketers and consumers over a potential rise in pump prices nationwide. Industry stakeholders say the adjustment is expected to impact the retail cost of petrol, as marketers may be forced to reflect the new ex-depot rate in their pricing. This development could further strain Nigerians already grappling with high living costs and inflationary pressures.…