ADEGOLD

The Enugu Electricity Regulatory Commission (EERC) has announced a significant reduction in electricity tariffs for Band A customers, cutting the rate from N209 per kilowatt-hour (kWh) to N160/kWh, effective August 1, 2025. The decision, detailed in the EERC’s Tariff Order No. EERC/2025/003, marks a pivotal adjustment in the state’s electricity pricing structure, driven by a federal government subsidy and a comprehensive review of operational costs. This move is poised to ease the financial burden on consumers in the Band A category, which includes those guaranteed a minimum of 20 hours of daily electricity supply. The EERC’s latest tariff order, issued for MainPower Electricity Distribution Limited, the sole electricity distribution company operating under its jurisdiction, reflects a meticulous cost-reflective analysis. The commission utilized its Tariff Methodology Regulations 2024 and Distribution Tariff Model to determine the new rates. A key factor in the tariff reduction is a fe...

In a recent interview with Kazakh journalist Akmaral Batalova, Russian Deputy Foreign Minister Sergey Ryabkov explicitly stated that none of the BRICS members seek to replace the US dollar within the international financial architecture. This assertion, which underscores a nuanced approach to global finance, clarifies the bloc's strategic objectives amid ongoing discussions about de-dollarization. Ryabkov emphasized that while the BRICS nations are actively working towards reducing their reliance on the dollar, their primary goal is to foster greater financial independence through increased use of national currencies for trade and settlements. He highlighted Russia’s own progress in this regard, noting that over 90% of its transactions with BRICS partners are now conducted in their respective national currencies, a significant shift from previous reliance on the dollar. This move, he indicated, is driven by a need to mitigate geopolitical risks and enhance economic sovereignty rath...

On July 17, 2025, the Federal Executive Council (FEC) convened a special session at the Presidential Villa in Abuja to pay tribute to former President Muhammadu Buhari, who passed away on July 13, 2025, at the age of 82 in a London hospital. The session, presided over by President Bola Tinubu, was a solemn gathering of Nigeria’s top political figures, including National Assembly leaders, FEC members, representatives of the Nigeria Governors’ Forum, and members of Buhari’s family, who came together to reflect on the late leader’s legacy of service and integrity. The FEC meeting, originally scheduled for 1:00 p.m., was rescheduled to 5:27 p.m. to accommodate the state funeral held earlier that day in Daura, Katsina State, Buhari’s hometown. President Tinubu opened the session with a heartfelt address, describing Buhari as a leader who embodied restraint, dignity, and an unwavering commitment to doing what was right. He highlighted Buhari’s personal qualities, noting his respectful demean...

The ongoing delay in finalizing the recruitment of teachers in Osun State has been attributed to the non-release of local government allocations by the Federal Government, creating significant challenges for the state’s education sector. The Commissioner for Education, Dipo Eluwole, revealed this issue during a recent address at a digital literacy training program for teachers and heads of public schools in Ede, highlighting the financial constraints hampering the state’s ability to bolster its teaching workforce. The recruitment process, initiated in February 2024 with Governor Ademola Adeleke’s approval to hire 5,000 teachers and 250 education officers for primary and secondary schools, has been stalled since candidates completed interviews between September 9 and 13, 2024. The delay stems from a financial bottleneck caused by a Court of Appeal ruling in February that halted monthly allocations to Osun’s 30 local governments due to a leadership crisis. These funds, typically used for...

  In a significant development for bilateral trade relations, the United States and Indonesia have finalized a trade agreement that reduces proposed U.S. tariffs on Indonesian goods from 32% to 19%, following what Indonesian officials described as an "extraordinary struggle" in negotiations. The deal, announced on July 15, 2025, marks a pivotal moment in addressing trade imbalances and fostering economic cooperation between the two nations. The agreement was sealed after direct talks between U.S. President Donald Trump and Indonesian President Prabowo Subianto, who met to resolve tensions sparked by earlier U.S. proposals for steep tariffs on Indonesian imports. The negotiations, which took place over several weeks, were characterized by intense diplomatic efforts to balance economic interests. According to a statement from the U.S. Trade Representative’s office, the deal grants American companies "full access" to the Indonesian market, with zero tariffs imposed on ...

  In the wake of the passing of the Awujale and Paramount Ruler of Ijebuland, Oba Sikiru Kayode Adetona, the Ijebu-Ode Local Government has ordered the temporary closure of the town’s three major markets. The announcement was made on Monday, July 14, by the Chairman of the Local Government Area, Hon. Dare Alebiosu. The markets affected by the directive include Ita-Ale, Ita-Osu, and Oke-Aje. According to the chairman, the shutdown is a mark of respect for the revered monarch, who died on Sunday, July 13, at the age of 91. Alebiosu emphasized that the closure aligns with traditional customs observed in Ijebuland during periods of mourning for a paramount ruler. In a statement issued from the council secretariat, Alebiosu noted that the markets would remain closed until further notice. He said that a formal date for the resumption of market activities would be communicated following consultations with traditional authorities and the Awujale’s royal court. “The closure of the markets i...