New Refinery Will Cost FG About $12bn - NNPC       The Nigerian National Petroleum Corporation (NNPC) yesterday vigorously defended the approval of a whopping $1.5 billion for the rehabilitation of the Port Harcourt refinery, maintaining that apart from following due process, building a new refinery in...

FG To Commit $3bn In Power Sector In 24 Months       The Federal Government disclosed a plan to commit $3 billion to the power sector in the next two years. The spending is expected to raise the current 4,900 megawatts (MWs) to at least 7,000MWs. This was disclosed...

Pension Funds Gained N119.68bn From Equity In Q4, 2020 – PenCom       Pension fund investment gained N119.68bn from equity in the fourth quarter of 2020, the National Pension Commission has revealed. Figures obtained on Monday from the PenCom report titled ‘Net realised gains/(losses) on equity/bonds in fourth...

COVID-19 Loans: CBN Disburses N149.2bn To Households     The Central Bank of Nigeria (CBN) disbursed N149.21 billion to 316,869 households to cushion the effects of the COVID-19 pandemic. The funds, which were given out in the first phase of the N150 billion Targeted Credit Facility (TCF), were...

AMCON Seizes Centage Savings And Loans’ Assets Over N3.5bn Debt       The Asset Management Corporation of Nigeria (AMCON) at the weekend took over 13 prime assets linked to Centage Savings and Loans Limited and its chief promoter, Mr. Johnson Ndukwe, over an indebtedness of over N3.5...

Fed Govt Okays $1.5bn For P/Harcourt Refinery Rehabilitation       The Federal Government has approved the sum of $1.5 billion for the rehabilitation of Port Harcourt Refinery, which is the largest refining company in the country. Disclosing this at the end of the Federal Executive Council, FEC, yesterday,...