Business
Enugu govt to build 660MW coal-fired power plant
Governor Peter Mbah disclosed this during a solidarity visit by the leadership of Organized Private Sector Nigeria (OPSN) to him at the Government House, Enugu, yesterday.
Photo: A coal fired power plant in Hanchuan, Hubei province, China / Getty Images
Enugu State Government has concluded plans to build a 660MW coal-fired power plant in the state.
Governor Peter Mbah disclosed this during a solidarity visit by the leadership of Organized Private Sector Nigeria (OPSN) to him at the Government House, Enugu, yesterday.
” I am pleased to inform you that in July, we will break ground for a 660MW coal-fired power plant.The outlay in terms of time for building the plant is 24 months. So, our target is to commission that power plant 24 months after the groundbreaking in July,” said Mbah.
Mbah recalled that Enugu State, under his leadership, was the first subnational to set up an electricity market, following the Constitution and Electricity Act amendments that effectively transferred power from the Exclusive List to the Concurrent List, thus paving the way for states to participate in all the power value chain, namely generation, transmission, and distribution.
The governor allayed concerns normally associated with coal, citing the low sulfur content and high calorific value of Enugu coal, standing at about 7,000 kilocalories per kilogramme.
He said the project was not a knee-jerk decision, as his administration had taken about two years to undertake the necessary studies and also secure coal assets to guarantee unhindered supplies to the plant.
Business
Naira Exchange Rates Thursday, 23 July
BLACK MARKET RATES
US DOLLAR (USD) Buy ₦1,405 Sell ₦1,410
GREAT BRITISH POUND (GBP) Buy ₦1,880 Sell: ₦1,900
EURO (EUR) Buy ₦1,580 Sell ₦1,600
CANADIAN DOLLAR (CAD) Buy ₦1,020 Sell ₦1,080
SOUTH AFRICAN RAND (ZAR) Buy ₦75 Sell ₦90
UAE DIRHAM Buy ₦350 Sell ₦370 CHINESE YUAN Buy ₦190 Sell ₦205
GHANA CEDI (GHS) Buy ₦95 Sell ₦110
WEST AFRICAN CFA Buy ₦2, 300 Sell ₦2, 400
CENTRAL AFRICAN CFA Buy ₦2,150 Sell 2,250
AUSTRALIAN DOLLAR Buy ₦800 Sell ₦900
CBN OFFICIAL EXCHANGE RATES
US DOLLAR (USD) ₦1,369.63
GREAT BRITISH POUND (GBP) ₦1,833.12
EURO (EUR) ₦1,563.03
SWISS FRANC (CHF) ₦1,685.08
JAPANESE YEN (JPN) ₦8.40
CHINESE YUAN (CNY) ₦202.21
WEST AFRICAN CFA (XOF) ₦2. 39
WEST AFRICAN UNIT ACCOUNT (WAUA) ₦1,867.90
SAUDI RIYAL (SAR) ₦366.36
SOUTH AFRICAN RAND (ZAR) ₦83.40
Business
President Tinubu Tasks Judicial Officers To Remain Abreast of Evolving Global Maritime Laws
President Tinubu made the call in Abuja during the 18th International Maritime Seminar for Judges, organised by the Nigerian Shippers’ Council (NSC), under the auspices of the Federal Ministry of Marine and Blue Economy, in collaboration with the National Judicial Institute (NJI).
President Bola Tinubu on Wednesday urged judges to continually update their knowledge on autonomous vessels, digital shipping, artificial intelligence-driven maritime operations, maritime security and evolving international environmental regulations.
President Tinubu made the call in Abuja during the 18th International Maritime Seminar for Judges, organised by the Nigerian Shippers’ Council (NSC), under the auspices of the Federal Ministry of Marine and Blue Economy, in collaboration with the National Judicial Institute (NJI).
Represented by the Minister of Marine and Blue Economy, Adegboyega Oyetola, President Tinubu lauded the Nigerian Shippers’ Council for initiating and sustaining the international seminar for judges.
He described it as one of Nigeria’s foremost platforms for strengthening maritime jurisprudence, enhancing judicial capacity and promoting excellence in maritime justice.
According to Oyetola , rapid technological advancement is creating unprecedented legal questions relating to liability, navigational responsibility, insurance, collision regulations and allocation of responsibility when autonomous vessels malfunction.
He emphasised that the courts will increasingly adjudicate disputes involving decarbonisation, environmental compliance, blockchain-enabled cargo documentation, electronic bills of lading and other evolving international maritime legal frameworks.
“The emergence of autonomous vessels demands a judiciary equipped to resolve complex legal questions involving liability, insurance, navigation and technological accountability.
“Judicial officers must remain abreast of evolving international maritime law to ensure justice keeps pace with technological innovation,” he said.
Business
Naira Exchange Rates Wednesday, July 22
BLACK MARKET RATES
US DOLLAR (USD) Buy ₦1,408 Sell ₦1,413
GREAT BRITISH POUND (GBP) Buy ₦1,885 Sell: ₦1,905
EURO (EUR) Buy ₦1,585Sell ₦1,600
CANADIAN DOLLAR (CAD) Buy ₦1,020 Sell ₦1,080
SOUTH AFRICAN RAND (ZAR) Buy ₦75 Sell ₦90
UAE DIRHAM Buy ₦350 Sell ₦370
CHINESE YUAN Buy ₦190 Sell ₦205
GHANA CEDI (GHS) Buy ₦95 Sell ₦110
WEST AFRICAN CFA Buy ₦2, 300 Sell ₦2, 400
CENTRAL AFRICAN CFA Buy ₦2,150 Sell 2,250
AUSTRALIAN DOLLAR Buy ₦800 Sell ₦900
Official CBN Exchange Rates
US DOLLAR (USD) ₦1,375. 31
GREAT BRITISH POUND (GBP) ₦1,841. 13
EURO (EUR) ₦1,569.78.
SWISS FRANC (CHF) ₦1,694.98
JAPANESE YEN (JPN) ₦8.45
CHINESE YUAN (CNY) ₦203. 25
WEST AFRICAN CFA (XOF) ₦2.40
WEST AFRICAN UNIT ACCOUNT (WAUA) ₦1,874. 32
SAUDI RIYAL (SAR) ₦366.36 SOUTH AFRICAN RAND (ZAR) ₦83.50
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