Much controversy has trailed the Central Bank of Nigeria’s (CBN) new foreign exchange policy. It would be recalled that the new policy was introduced last June to move the country away from a fixed exchange rate regime, to one...

ABUJA Electricity Distribution Company, AEDC, has stated that its indebtedness to electricity generating companies, GENCOs, was not deliberate and blamed the development on challenges confronting the power sector. Director, Corporate Services, AEDC, Mr. Abimbola Odubiyi, in an interview in...

The Central Bank of Nigeria has disclosed that total foreign exchange inflow into the economy in the second quarter of 2016 was $15.33billion. This it said represented an increase of 3.7 per cent above the level at the end of...

The federal government says that Nigeria, though rich in mineral resources, is not yet a mining nation. The Minister of Solid Minerals Development Dr Kayode Fayemi, made the remarks, at the 5th edition of the International Mining Investment Conference and...

The Japanese government recently delivered a Solar Power System to the Federal Government to boost both water and power supply at the Lower Usuma Dam, Bwari Area Council of the Federal Capital Territory. The recent donation of a $9.7 million...

Nigeria will need to direct attention at effectively leveraging the latent ($2.24 billion) N860 billion investment in undersea cables in the country as part of measures towards recovering from its on-going economic recession, experts have said. This was the harmonised...