Nigeria’s Service Imports Surpass Exports, Records $33.7bn Deficit   Nigeria recorded trade in services deficit of $33.7bn in 2019, even as its merchandise exports fell by 14.1 per cent in the same year, according to the United Nations. The UN, in its UN Comtrade International Statistics Yearbook...

Gencos Lose N1.66trn Over Non-payment For Unused Power   Power generation companies in Nigeria have said they suffered a loss of N1.66trn in seven years as a result of non-payment for deemed capacity. The Executive Secretary, Association of Power Generation Companies, the umbrella body for the Gencos,...

Insurance Firms To Pay N20bn #EndSARS Claims   Insurance companies will eventually pay about N20 billion in compensations for losses recorded during the October 2020 #EndSARS protest. Speaking with the News Agency of Nigeria (NAN) in Lagos on Wednesday, the Chairman of the Nigeria Insurance Association (NIA),...

Discos Lose N97bn To Energy Theft, Others In Three Months   Electricity distribution companies have said a total of N97bn was lost in the first quarter of this year to energy theft, capping of estimated billing and other factors. The Association of Nigerian Electricity Distributors, the umbrella...

Onne Customs Generate N128.3bn In Nine Months   The Nigeria Customs Service (NCS) Area II Command Onne Port, Rivers State, has collected a total of N128.3 billion as revenue from January to September 2021. This figure, as released through the Command’s Public Relations Officer, Ifeoma Onuigbo Ojekwu,...

Fed Govt Earmarks N71.6bn For Railway Projects   The Federal Government has budgeted the sum of N71.6bn for new railway projects across the country. This is contained in the highlight of the 2022 budget of the Ministry of Transportation. The projects as contained in the 2022 budget presented...