Firm Builds N250m Facility At Lagos Airport       An indigenous firm, Free On Board, is to build a N250 million packaging factory at the Lagos Airport for goods and logistics, in partnership with the Handling Company (NAHCO) and other international partners. The factory, according to the firm’s...

PenCom Okays N19.85bn For 6,006 Retirees In Q2       The National Pension Commission has said it approved N19.85bn as lump sum payment for 6,006 retirees in the second quarter of 2020. PenCOM disclosed this in its second-quarter report for 2020 financial period. According to the commission, the pensioners...

Oil Firms’ Debts Near N5trn Amid Price Collapse     The debts owed by oil and gas companies to Nigerian banks rose by N90bn in the second quarter of this year to nearly N5tn as many operators struggle to stay afloat in the face of depressed prices...

Electricity Tariff Subsidy Gulped N540bn, Must Stop — NERC       The Nigerian Electricity Regulatory Commission has said the Federal Government spent N540bn subsidising electricity in 2019, stressing the need to put an end to subsidy. According to the commission, the amount spent on electricity subsidy should be...

Electricity Consumers Paid N1.27trn In Three Years - DisCos         Electricity distribution companies collected a total of N1.27tn from customers in the last three years, data obtained from the Association of Nigerian Electricity Distributors (ANED) on Thursday have shown. ANED, the umbrella body for the Discos, said...

Transporters Seek Access To N10bn Palliative       The Public Transport Owners of Nigeria Association (PTONA) has called on the Federal Government of Nigeria through the Minister of State for Transportation, Senator Gbemisola Saraki, to fast-track quick disbursement of the N10 billion fund approved for transporters. PTONA comprises...