FG Owing GenCos, DisCos N4trn, Power Minister Discloses
The Minister of Power, Adebayo Adelabu, has disclosed that the federal government is owing electricity generation companies (GenCos) and electricity distribution companies (DisCos) over N4 trillion in electricity subsidy.
The minister made the disclosure on Thursday in Abuja...
World Bank to Loan Nigeria $2.2bn in 2025
The Federal Government of Nigeria is set to receive total of $2.2 billion in new loans in 2025.
According to the World Bank’s project list, the $2.2 billion will be allocated across six different projects.
The global financial institution...
How FG, IOCs Agreement Limits Crude Allocation to Local Refiners
The Minister of State for Petroleum Resources (Oil), Senator Heineken Lokpobiri, has revealed the reason why International Oil Companies are finding it difficult to allocate crude to domestic refiners, including the Dangote Petroleum Refinery under...
Nigeria’s Banking Fraud Hits N52bn in 4yrs – NIBSS
Fraud transactions in Nigeria’s banking system have tripled over the past four years from N11 billion to N52 billion, statistics from the Nigeria Inter-Bank Settlement System (NIBSS) has shown.
An analysis published by the NIBSS on Wednesday...
N100bn Debt: PETROAN Urges Members not to Shut Operations Amid Hardship
The Petroleum Retail Owners Association of Nigeria (PETROAN) has called on its members not to shut down their operations over the N100bn bridging debt owned them.
PETROAN, in a press statement issued by its national...
Customs Seizes 2,433kg Cannabis, 195 Bottles of Codeine on Lagos Waterways
The Nigeria Customs Service, Western Marine Command, says it intercepted 2,433 kg of cannabis sativa and 195 bottles of codeine syrups (300 ml each) along the inland waterways in the South Western part of...
