Banks’ Non-performing loans Rise To N1.5trn       The non-performing loans in the banking sector rose by N333bn as of the end of the third quarter of 2020 to N1.5tn at the end of 2020. These were as by statistics obtained by our correspondent from the Central Bank...

Seven Banks Provide $260m Funding To AGPC To Generate 1.2GW Electricity       No fewer than seven banks have provided a cumulative $260 million funding to a gas processing firm, ANOH Gas Processing Company Limited (AGPC). The funding is to fund the completion of the AGPC Gas...

Nigeria Has $900bn Dead Capital In Real Estate, Agric - PWC         Nigeria holds as much as $900 billion worth of dead capital locked up in residential real estate and agricultural land, including federal government’s abandoned properties estimated at N230 billion, said PWC Nigeria. Dead capital refers...

How National Assembly ‘Padded’ 2021 Budget With Over N500bn       Before transmitting the 2021 budget to President Muhammadu Buhari, the National Assembly inserted several projects, as well as increased and cut down the budget of some ministries, departments and agencies (MDAs). The 2021 budget proposed by President...

N49.68bn Spent On Pipeline Repairs In Ten Months – NNPC         With the challenge of pipeline vandalism lingering in the country, the Nigerian National Petroleum Corporation spent almost N50bn to repair and manage pipelines in 10 months. The NNPC’s latest monthly report showed that a total of...

Power Sector Loses N26.4bn To Gas, Grid Challenges         The power sector has continued its sub-optimal performance in January, losing about N26.4 billion in revenues in the first month of the year, mainly due to gas supply issues as well as transmission and distribution challenges in...