Power Subsidy Rises 151% to N211bn in Q1, 2024 The Nigerian Electricity Regulatory Commission has disclosed that the electricity subsidy obligation of the Federal Government rose from N252.76bn to N633.30bn in the first quarter of 2024. The NERC report said the electricity subsidy skyrocketed to N211.10bn...

Bearish Trend: NGX Ends July Trading with N32bn Loss The Nigerian Exchange continued its bearish trend for the third consecutive day this week, as investors lost N32bn due to losses suffered by Berger, Cutix, and Nigerian Aviation Handling Company. Berger, Cutix, and Nigerian Aviation Handling Company...

FX Gain: Otedola Backs FG on 70% Windfall Tax from Banks Nigerian Billionaire, Femi Otedola, has supported the 70 per cent windfall tax proposed by the Federal Government on foreign exchange gains of banks. In a statement he issued on Wednesday, Otedola, who is the chairman...

Recapitalisation of Banks Now Driving in Foreign Investors - Cardoso The Governor of the Central Bank of Nigeria (CBN), Mr. Olayemi Cardoso, on Wednesday disclosed that foreign investors are already moving funds into the country to invest in Nigerian banks under the ongoing recapitalisation exercise. Cardoso...

CNG Praises FG’s Decision To Sell Crude In Naira To Domestic Refineries The Coalition of Northern Groups (CNG) has voiced its appreciation of the Federal Government’s recent decision to sell crude oil in naira to domestic refineries, a departure from the previous practice of payment...

Alh. Ibikunle Tajudeen Baruwa, the President of National Union of Road Transport Workers (NURTW), is urging Nigerians and members of the union across the country to shy away from the planned nationwide protest against hardship scheduled to commence on August 1.