Fed Govt To Pay N71bn Counterpart Funding For Six Railway Projects         The Federal Government is to partly fund six rail projects connecting virtually all regions of the country with a counterpart funding of N71.15bn this year. Also, N15.1bn will be spent on the development of safety...

N1.3bn Debt: AMCON Takes Over Inducon Nigeria’s Assets         The Asset Management Corporation of Nigeria has said it took over an asset belonging to the Chief Promoter of Inducon Nigeria Limited, Dr. John Abebe, over N1.3bn debt. In a statement on Sunday from the Head, Corporate Communications...

Power Sector Loses N20.5bn Revenue As Load Rejection Lingers         About N20.5bn revenue was lost by Nigeria’s power sector between January 1 and 22, 2021, as operators in the business complained that energy was still being rejected by distributors. Data obtained from the Federal Ministry of Power...

Senate Queries NBET On N50bn Escrow Account         The Senate Public Account Committee has asked the Nigeria Bulk Electricity Trading Plc to explain how it managed the N50bn in its Escrow Account. The chairman of the committee, Senator Matthew Urhoghide, issued the directive based on the 2015...

TCN Faults N1.5trn Intervention In Power Sector         The about N1.5tn intervention of the Federal Government in the power sector is not reflecting in the current performance of the industry, the Transmission Company of Nigeria said on Thursday. According to TCN, the intervention was done to boost...

Fed Govt Contracts N900m Railway e-ticketing Service To Concessionaire         The Federal Government on Thursday officially inaugurated the e-ticketing service on the Abuja-Kaduna rail corridor and also announced that the service would be run by a concessionaire. Minister of Transportation, Rotimi Amaechi, who inaugurated the online ticketing...