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TCN Defends Electricity Tariff Hike, Claims Nigeria’s Energy Costs Still Lower Than Neighboring Nations

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The Transmission Company of Nigeria (TCN) has defended the recent electricity tariff hike, arguing that energy costs in Nigeria remain more affordable compared to several neighboring African countries.

TCN Managing Director, Sule Abdulaziz, made the statement during an appearance on Sunday Politics, noting that factors like exchange rates and the high cost of power generation contribute to the rising tariffs.

However, he emphasized that despite the increase, Nigeria’s electricity prices are still lower than those in countries like Niger and Senegal.

Abdulaziz also noted that some Nigerians, particularly those in Band A, now enjoy nearly 24-hour power supply and assured that power stability could be achieved within the next five years.


 

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Lagos State Governor Sanwo-Olu Presents 3 Trillion Naira As Budget For 2025

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Lagos State Governor, Sanwo-Olu presents 3 Trillion Naira as the budget for the proposed Appropriation Bill for 2025 to the house of assembly. The assembly meeting was led by Speaker, Mudashiru Obasa. The budget is themed Budget of Sustainability and will be a blue print for the commitment to Lagosians.

The ceremony was held in the state house, Alausa, Lagos. With this proposed bill the state government is focusing on environment, education, technology, security and public safety.


 

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Diezani Alison-Madueke Seeks Court Approval to Amend Lawsuit Against EFCC Asset Forfeiture

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Former Petroleum Minister Diezani Alison-Madueke has filed a motion to amend her lawsuit challenging the Economic and Financial Crimes Commission’s (EFCC) order for the final forfeiture of her seized assets.

At a Federal High Court hearing in Abuja presided over by Justice Inyang Ekwo, Alison-Madueke’s counsel confirmed filing the amendment motion and serving the EFCC. Notably, no EFCC representatives appeared in court.

The embattled ex-minister also sought an extension of time to contest the EFCC’s public notice regarding the sale of her confiscated properties, claiming she was denied a fair hearing during the forfeiture proceedings.

The EFCC, however, rejected Alison-Madueke’s allegations, maintaining that the forfeiture cases were lawfully adjudicated over time.

Justice Ekwo adjourned the case to February 17, 2025, to consider the motion to amend the originating process.

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Tron Founder Justin Sun Buys $6.2M Banana Artwork, Plans to Eat It

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Justin Sun, the founder of blockchain platform Tron, has purchased Comedian, a conceptual artwork by Maurizio Cattelan featuring a banana duct-taped to a wall, for $6.2 million at a Sotheby’s auction in New York.

Initially valued at $1–$1.5 million, the sale exceeded expectations, drawing bids from seven contenders. Originally priced at $120,000 during its 2019 debut at Art Basel Miami Beach, Comedian has sparked global debates about the absurdities of contemporary art.

 

Sun views the purchase as a cultural statement rather than a simple acquisition. “This bridges art, memes, and cryptocurrency,” he said, revealing plans to eat the banana as part of the artwork’s experiential essence.

Known for challenging societal norms, Cattelan’s works often provoke controversy. Buyers of Comedian receive instructions to replace the banana due to its perishability.

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Sun’s acquisition highlights his growing involvement in art and tech intersections, following his $78.4 million purchase of Alberto Giacometti’s Le Nez. While celebrated as an entrepreneur, Sun has also faced legal challenges, including allegations of cryptocurrency manipulation.

The $6.2 million banana reinforces the unpredictable relationship between art, commerce, and culture, embodying modern art’s power to provoke and perplex.


 

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