N228bn Oil, Gas Fabrication Facility Rots In Lagos Creek       An oil and gas drilling and production fabrication facility worth $600 million (about N228 billion) is lying to rot in the creeks of Lagos. The facility, owned by Kaztec Engineering, is at Snake Island where the Badagry...

Consumers Paid N542.73bn To Discos In 2020 – NERC       Consumers across the country paid a total of N542.73bn to power distribution companies as electricity bill in 2020, a report obtained from the Nigerian Electricity Regulatory Commission has shown. In the 2020 financial report, the NERC, however,...

CBN Disburses N1.487trn To Boost Food Security       The Central Bank of Nigeria (CBN) has disbursed N1.487 trillion under its various agricultural programmes to boost food security. Its Governor, Mr Godwin Emefiele, made this known while presenting the communiqué on the Monetary Policy Committee (MPC) meeting in...

Refineries: Reps Probe $1.5bn Planned Rehabilitation, Past Repairs       The House of Representative has resolved to investigate the fresh $1.5bn recently approved by the Federal Executive Council to rehabilitate the Port Harcourt refinery. The House will also be probing into the rehabilitation and maintenance exercises on other...

Banks Credit To Economy Hits N43.67trn     Banks’ credit to the economy rose by N75bn to N43.67tn as of the end of February from N42.92tn in January. The Central Bank Governor, Godwin Emefiele, disclosed this on Tuesday in Abuja. He said, “Provisional data showed that banking system credit...

We Disburse $80m Weekly For School Fees, BTAs, Says Emefiele       In view of the lingering foreign exchange scarcity in the country, the Central Bank of Nigeria has urged Nigerians not to panic, saying there is enough forex for business owners, travellers and parents with students...