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Meter Manufacturers Lay off 50% of Workforce

No fewer than 600 workers of meter manufacturers have lost their jobs in the past six months. Reason: lack of patronage in the power sector, The Nation has learnt. The firms, under the umbrella of the Electricity Meters Manufacturers Association...

Governors Rattled over N432.5b Ecological Funds Probe

Afraid of being probed for alleged embezzlement of N432,502.466,521 Ecological Funds, many governors have inundated the Economic and Financial Crimes Commission (EFCC) with enquiries on their fate. It was learnt that they sought to know those to be probed and...

FG Loses N356.6bn In five months To Forcados Shutdown

Five months after it was attacked and shut down, Shell’s Forcados export line remains offline, causing the country a loss of about $1.6bn (N356.6bn) in revenue. It is still uncertain when the pipeline would come back on stream, although the...

Oil Falls To $43 From Peak Of $52

Global oil benchmark, Brent crude, extended its declines on Wednesday, trading around $43 per barrel, down from a 2016 peak of $52.54. Oil prices plummeted over $1 per barrel within minutes after official United States energy data showed an unexpected...

Treasury Bills Market Bearish Over MPC Decision

The Treasury bills market traded slightly bearish on Wednesday with yields up by 30 basis points on the average. This development, analysts at Vetiva Capital Management Limited, said, was a reaction to the Monetary Policy Committee decision to raise the...

FG Seeks Equity In N6.5tr Infrastructure Expenditure

Efforts are under way to ensure that the Federal Government leaves no part of the country out of the planned expenditure of N6.5 trillion on infrastructural development in the country. The government wants equity in the distribution of the...
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