Discos Failed To Pay N510.53bn In 2020, Says NERC       Power distribution companies in the country failed to pay a total of N510.53bn for the electricity sold to them in 2020 by Nigerian Bulk Electricity Trading Plc, the Nigerian Electricity Regulatory Commission has said. The government-owned NBET...

Senate Summons NNPC Again, Cites Non-remittance Of N4.07trn       The Senate Public Accounts Committee has again summoned the management of the Nigerian National Petroleum Corporation over alleged non-remittance of N4.07tn to the Federation Account between 2010 and 2016. The management of the NNPC had appeared before the...

CBN Disburses N94.34bn COVID-19 Healthcare Funds       The Central Bank of Nigeria has disbursed N94.34bn out of the N100bn credit intervention for the healthcare industry which it introduced as part of its measures to cushion the impact of the coronavirus pandemic on the economy. This CBN disclosed...

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...