Economic Confidential

FG to Raise N20bn for Renewable Energy Projects

The Minister of Environment, Mrs. Amina Mohammed, has said that plans by the Federal Government to raise N20bn by March this year to help fund renewable energy projects were still in place. Speaking at an event organised by Access Bank...

Customs Intercepts 661 Rifles in Lagos

Nigeria Customs Service has seized 661 pump action rifles imported into the country from China illegally. They were packed in 49 boxes and concealed with steel doors and other merchandize goods in a 40ft container. The Comptroller General of Customs (CGC),...

We’ll Resist Petrol Price Increase- NUPENG

Any attempt to increase the price of Premium Motor Spirit, which is popularly known as petrol, will be resisted by the National Union of Petroleum and Natural Gas workers, its President, Mr. Igwe Achese, has said. Some oil marketers had...

Naira Reverses Loss After Dropping to 500/Dollar

The naira dropped against the United States dollar from 498 to 500 at the parallel market during the early trading hours on Monday, crossing the critical threshold currency analysts had predicted. Foreign exchange traders linked the development to relative scarcity...

Ibadan Discos Accused of diverting Bailout Fund

The Ibadan Electricity Distribution Company (IBEDC) has been found wanting by an audit report in the management bailout fund for the electricity sector. The company is among the first of the two DisCos to get a loan of N11.36 billion...

Petrol Scarcity Looms as Product Sells for N142 per Litre in Depots

...South-west IPMAN threatens to stop lifting products Despite the pledge by oil marketers to support the federal government’s efforts in ensuring sustained and stable supply of petrol at the official pump price of N145 per litre, there are indications of...
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