Weak Purchasing Power Pushes Unsold Goods to N1.24trn, MAN Reveals The Manufacturers Association of Nigeria (MAN) has stated its unsold manufactured goods have reached a record N1.24tn, as its unsold inventories increased by 357.57 per cent in the first half of 2024. MAN attributed this sharp...

Report Reveals FG spent N29bn to Repair Damaged Power Towers   The Federal Government, through the Transmission Company of Nigeria (TCN) has spent a total sum of N29.3bn as costs to repair 266 electricity towers damaged by vandals nationwide, the latest data obtained from TCN showed. The...

FG Needs N19trn to Complete 2,604 Ongoing Projects - Minister   The Minister of Works, David Umahi, has stated that the financial requirements to successfully complete the ongoing 2,604 road projects inherited by the current administration have increased to N19trn, an increase from the previously estimated...

Three Major FG Agencies Spend N533bn on Revenue Collection   Three major revenue-generating agencies in Nigeria deducted a total of N533.11bn as costs of revenue collection in the first seven months of 2024. The agencies include the Nigeria Customs Service (NCS), Federal Inland Revenue Service (FIRS), and...

Apapa Customs Raked in N1.6trn Revenue in Q3   The Nigeria Customs Service, Apapa Area Command, said it collected N1.6tn as revenue at the end of the third quarter of 2024. It added that the revenue was higher than N1.2tn, which was collected as total revenue in...

Stakeholders Demand Better Security as Banks Lose N42.6bn to Fraud   Cybersecurity experts have stated that Nigerian banks must bridge the widening technology adoption gaps and closely track insider threats after losing N42.6bn to fraud between April and June 2024. The Financial Institutions Training Centre revealed the...