General News
Diezani Loses Bid to Become OPEC Secretary General

Diezani Alison-Madueke, Petroleum minister yesterday lost out in the race to replace the secretary general of the Organisation of Petroleum Exporting Countries (OPEC), as the incumbent Abdalla S. El-Badri got a tenure extension.
Mr. El-Badri’s tenure, which was to end in December, has now been extended to June 30, 2015, according to a communique at the end of the meeting.
Reports on Tuesday had said the Federal Government had proposed Mrs Alison-Madueke to be the OPEC head.
She would have been the first female to head the oil cartel if that bid had succeeded.
The 165th Meeting of the Conference of the OPEC convened in Vienna, Austria, yesterday, under the chairmanship of its President, Omar Ali ElShakmak, Acting Libyan Oil Minister.
A comunique at the end of the meeting said OPEC decided to extend the tenure of the current holder of the office for a period of six months from 1 January 2015.
Nigerian government’s decision to propose Mrs Alison-Madeuke to be the next secretary-general of OPEC was seen as a move that could end a long-running leadership standoff at the organisation.
But it was also seen at home in Nigeria as an exit strategy for the minister, who is increasingly getting enmeshed in controversies.
The National Assembly is currently having a running battle with her over allegations of mismanagement of oil wealth, which government officials denied.
Another major decision reached at the OPEC meeting yesterday included adhering to the existing production level of 30mb/d by member countries should.
In taking this decision, the conference unanimously agreed that member countries would, if required, take steps to ensure market balance which is so important to world economic activity.
Member countries, in turn, reiterated their willingness to firmly respond to developments that might jeopardise oil market stability.
The conference earlier considered the Secretary General’s report, the report of the 121st Meeting of the Economic Commission Board (ECB) and a variety of administrative matters. In so doing, the Conference listened to presentations and exchanged views on the status of multilateral negotiations on climate change, the Organisation’s ongoing energy dialogue with theEuropean Union (EU), the continuing cooperation between OPEC, the International Energy Forum (IEF) and the International Energy Agency (IEA), as well as the continued collaborative work with the G-20 and other international organisations.
General News
World Bank Blocks Social Media Comments from Nigerians over Loan Backlash

World Bank has restricted comments on its Instagram page after thousands of Nigerians flooded the platform begging them to stop lending money to Nigeria.

The protest erupted after reports that President Bola Ahmed Tinubu is seeking a fresh $1.25 billion dollar loan for approval on June 26.
Some Nigerians asked the World Bank to provide more details about the purpose of the loan and how the funds would be managed.
Others said the country should reduce dependence on foreign loans and focus on improving local revenue.
The federal government has continued to defend its borrowing plans.
Officials say the funds will support economic reforms, development projects and efforts to strengthen the economy.
Nigeria remains one of the major borrowers from the World Bank in Africa, with different administrations securing loans over the years for infrastructure, social programmes and economic support.
General News
Lagos Plans New Cybersecurity Centre

The Lagos State Government plans to establish a Cybersecurity Operations Centre to strengthen protection of government systems, digital services and citizen data amid rising cyber threats linked to the city’s expanding digital economy.

Tunbosun Alake, Lagos commissioner for innovation, science and technology, said the centre would help secure the infrastructure supporting online payments, e-government services, cloud platforms and technology-driven business operations across the state.
According to Alake, the facility will monitor, detect and respond to cyber threats targeting government networks, digital transactions and sensitive public data.
The move comes as Lagos accelerates its smart city agenda through investments in broadband infrastructure, digital identity systems and automated public services.
Alake said Lagos had already deployed 109 Data Protection Officers across Ministries, Departments and Agencies, which he described as the highest number among Nigerian states, to strengthen compliance with data protection regulations.
Alongside the proposed cybersecurity centre, the state also launched the Lagos Campus Network Upgrade project aimed at improving digital infrastructure within the public sector.
The upgrade is expected to improve network performance, automate internal government processes and enhance digital engagement with residents. The cybersecurity initiative follows the release of Lagos State’s cybersecurity guidelines in April.
The framework recommends measures including multi-factor authentication, vulnerability testing, encrypted backups and tighter endpoint security controls.
The guidelines align with Nigeria’s Cybercrime Act 2024, the Nigeria Data Protection Act 2023 and the National Cybersecurity Policy and Strategy 2021.
General News
LG Electronics Strengthens Household Energy Efficiency in Nigeria with Advanced Inverter Refrigerator Solutions

LG Electronics (LG) is reinforcing its commitment to smarter and more energy‑efficient living by spotlighting its range of inverter‑powered refrigerators designed to meet the evolving needs of Nigerian households.

As electricity costs continue to rise and inflationary pressures shape consumer spending, LG’s refrigerator portfolio is positioned as a practical solution that combines dependable performance with responsible energy consumption.
Refrigerators are among the most frequently used appliances in Nigerian homes, operating 24 hours a day and accounting for a significant share of household electricity usage. LG addresses this challenge through its proprietary Inverter Compressor technology, which intelligently adjusts cooling power based on actual usage conditions.
By reducing unnecessary energy draw, the system delivers stable temperature control while helping households lower energy consumption and manage monthly utility costs more effectively.
Beyond energy savings, LG refrigerators are designed to support food security and reduce waste, an increasingly important consideration for families navigating rising food prices. The inverter system enables faster cooling recovery after power interruptions and helps maintain consistent internal temperatures, preserving food freshness for longer periods. With fewer friction points in the compressor design, LG refrigerators also offer enhanced durability and long‑term reliability, minimizing maintenance costs over time.
LG’s energy‑saving refrigerator lineup includes Top Mount, Side‑by‑Side, and Door‑in‑Door models, each tailored to different household sizes, storage needs, and lifestyle preferences. The Top Mount refrigerators offer practical, space‑efficient designs ideal for everyday family use, delivering reliable cooling with optimized energy efficiency.
The LG GN-F452PFAQ model keeps food perfectly fresh with FRESH Converter+ that optimizes temperature as per food items and never runs out of ice with the Auto Ice Maker.
For households that require larger storage capacity and improved organization, Side‑by‑Side models provide generous interior space, improved visibility, and consistent cooling across compartments.
For more design‑conscious consumers, LG’s Door‑in‑Door refrigerators reduce cold air loss by allowing quick access to frequently used items, supporting both energy efficiency and long‑lasting freshness.
At the premium end, LG continues to innovate with advanced models such as the MoodUP™ refrigerator, which combines customizable aesthetics with functional energy‑saving features like the InstaView panel, allowing users to view contents without opening the door and reducing unnecessary cold air loss. This refrigerator comes with a washing machine as a bundle promotion.
According to LG, this range‑based approach reflects a deep understanding of how Nigerian households differ in size, consumption habits, and lifestyle needs.
“Nigerian consumers are becoming more intentional about how they use energy and manage household costs,” said Mr. Oktai Kim, General Manager, Home Appliance Solutions, LG Electronics Nigeria. “By offering a diverse range of inverter‑powered refrigerators, we are giving families the flexibility to choose solutions that suit their homes while delivering long‑term value through energy efficiency and dependable performance.”
Rather than focusing on technology alone, LG’s energy‑saving refrigerator portfolio emphasizes everyday benefits, efficient operation, reliable cooling, and designs that adapt to real living conditions. Available nationwide, LG refrigerators continue to support smarter living and economic resilience, reinforcing the company’s commitment to delivering durable, consumer‑focused home solutions for Nigerian households.
News2 days agoThe Nigeria Prize for Science & Innovation Records New Height as 2026 Edition Attracts 237 Entries
Telecom2 days agoFirm Shares 5-step Safety Action Plan on What to Do When You Discover Your Phone is Missing
General News2 days agoCross-Border Payments Startup Chimoney Closes Shop After 4 Years
Telecom2 days agoChamber Raises Alarm over Increasing Telecoms Infrastructure Vandalism
General News2 days agoTribest Corporate Support Group Appoints Fadebi as Group Executive Director
E-Financial2 days agoNDIC Drags Wema Bank to Court over N125.38Bn Banana Island Assets
General News2 days agoFCMB, REA Others Launch $188M Fund to Finance 191mw Solar Capacity
General News2 days agoGozi-Anyaokei, Bank MD Arraigned over Alleged N19m, $30,000 Fraud



















