TCN Upgrades Transformers as National Grid Stabilise at 3000MW The national power grid stabilised on Monday as electricity generation revolved around 3,000 megawatts and 3,707.91MW between 1am and 8pm on the same day following the collapse of the grid on Sunday. It was reported reported that...

AfDB Begins Disbursement of $540 million for SAPZs Initiative African Development Bank (ADfB) has commenced the first phase of the disbursement of $540 million Agro-Industrial Funds for the development of Special Agro-Industrial Processing Zones (SAPZs) in the country. The Senior Special Adviser on Industrialization to the...

CBN Reveals Action Plan to Revive Economy The governor of Central Bank Nigeria (CBN), Olayemi Cardoso, has highlighted some action plans the apex bank wants to embark on in order to help boost the economy. Cardoso highlighted some of the plans in his interview with Arise...

$2.4bn FX Backlog Was Marred by Infractions, CBN Governor Says The governor of the Central Bank of Nigeria, Dr Olayemi Cardoso, has said that about $2.4bn of the $7bn foreign exchange backlog he met when he got into office were from non-existing entities, requests without...

NNPCL will Resume Kolmani Oil Exploration Soon – Senator Buba The Senator representing Bauchi South, Shehu Umar Buba, has said that the Nigerian National Petroleum Company Limited (NNPCL) will resume oil exploration this month in the Kolmani oil field between Bauchi and Gombe states. Buba, who...

Over 30 Oil Blocks Under Concession to IOCs, Others – NNPCL No fewer than 36 oil blocks are under concession to international oil companies operating in Nigeria and their indigenous counterparts in the country, latest data from the Nigerian National Petroleum Company Limited showed. An analysis...