Business

EKEDC attributes blackout to rain

The Eko Electricity Distribution Company(EKEDC), has apologized for the blackout being experienced in Lagos areas, such as Lekki, Ajah, Victoria Island and Ikoyi. EKEDC blamed the blackout on the rain, which has continued to batter the city of 30 million people, resulting into an unprecedented flood on the roads and homes. According to a short […]

Business

Samsung soars despite scandals

Samsung Electronics announced Friday it is set to post a new record quarterly operating profit of 14 trillion won ($12.1 billion). The estimate is up more than 70 percent from last year’s second quarter even though the company has had major crises to overcome. Vice Chairman Lee Jae-yong has been behind bars since February as […]

Business

FG urged to curtail excessive borrowing

The Federal government of Nigeria has been urged to curtail excessive burrowing. The Chairman, T&C group of the Manufacturers Association of Nigeria, MAN, Mr. Ikpong Umoh, who made the plea stressed that the country’s debt profile, estimated at over N17.3trillion, is worsening the economic recession. Ikpong Umoh, Umoh said that the huge debt is made […]

General

Amnesty office clarifies mandate

Providing mass employment, infrastructure development including roads, bridges, schools, health centres, hospitals, pipe borne water and decent housing, among others are not part of the mandate of the Presidential Amnesty Programme (PAP), the Amnesty Office has said. The Amnesty Office, in a statement captioned “The Presidential Amnesty Programme is not an omnibus Agency,” said it […]