Day: April 24, 2021

500,000 crypto investors wrecked, Market loses billions of dollars in 1 day

Precious Ibekwe

  Cryptocurrency pundits say no shaking even as world’s most popular crypto rout deepened, dropping below the $50,000 level to $48,400, its lowest levels in about seven weeks. The crypto market suffered heavy losses in the early hours of Friday with many traders liquidated as the flagship crypto dipped below the $50,000 price levels. In the cryptoverse hundreds of billions of dollars were, according to a report by Lagos-based Nairametric, virtually wiped off in value as the global crypto market lost about $300 billion, trading at $1.77 trillion, a 12.29% decrease…

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Why Natural Gas Prices Jumped to $2.754/ MMBtu

Efe Wellington

  The U.S. benchmark natural gas price reversed losses from earlier on Thursday and turned higher after the Energy Information Administration reported a smaller-than-forecast injection into storage. As of 11:30 a.m. on Thursday, the price of natural gas at Henry Hub was up by 2.34 percent at $2.754/ MMBtu. At the start of trading on Thursday, the price was at $2.688/ MMBtu, down from Wednesday’s close at $2.776/ MMBtu. The EIA’s weekly natural gas storage report showed today that working gas in storage was 1,883 billion cubic feet (Bcf) at the end of the week to…

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Power Epilepsy lands Nigerian businesses in $58bn loss in 24 months

Tade Salako

  6 Six in 10 of registered customers are not metered, and their electricity bills are not transparent and clear, World Bank says in damning report about Nigeria’s electricity sector   Businesses in Nigeria lost $58 billion in two years to power supply epilepsy. World Bank, which said this in an estimate about the OPEC country, which is the largest oil producer in Africa, maintained that businessmen in the country are losing each year around US$29 billion because of the unreliable power supply. “Businesses in Nigeria lose about $29bn annually because of…

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JUST IN: Hoodlums Set Nigeria’s Imo Governor Mansion, Exotic Cars Ablaze

Precious Ibekwe

  The multi-million naira mansion and exotic cars belonging to the governor of Imo state, Southeast Nigeria, Hope Uzodimma, have reportedly been set ablaze by hoodlums. The property located at his hometown in Omuma, Oru East local government was reported to have been attacked by hoodlums and set ablaze while vehicles packed within the premises were also torched. As gathered, the hoodlums, who dressed in black attire, were said to have arrived at the premises with arms at about 11 am, overpowered the security, and set the premises ablaze. This…

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