Power Firms Owe Us N160bn, Says NDPHC       The indebtedness of the power sector to the Niger Delta Power Holding Company has hit N160bn, the Managing Director, NDPHC, Chiedu Ugbo, stated on Wednesday. NDPHC is Nigeria’s power company fully subscribed to by the federal, state and local...

Banks Total Credit Rises To N19.33trn       The total credit to the economy rose to N19.33tn in August as a result of the Central Bank of Nigeria’s policy on the Loan to Deposit Ratio. Central Bank Governor, Godwin Emefiele, disclosed this during the Monetary Policy Committee meeting...

CBN Disburses N374bn To Smallholder Farmers       The Central Bank of Nigeria (CBN) yesterday said it has funded smallholder farmers (SHFs) under the Anchor Borrowers Programme (ABP) to the tune of N374 billion across the cassava, maize, cotton and rice value chain from 2016 to date. CBN...

Agencies Illegally Took N5.8trn From FG Account – Report     The Nigerian National Petroleum Corporation (NNPC), the Department of Petroleum Resources (DPR) and the Federal Inland Revenue Service (FIRS), have made illegal deductions from the Federation Account estimated at N5.786 trillion between 2014 and 2017, said...

MDAs Remitted N1.8trn In Twelve Years – FRC       The Acting Chairman of the Fiscal Responsibility Commission, Victor Muruako, has said more than N1.8tn has been remitted into the Consolidated Revenue Fund in the last 12 years as operating surplus by Ministries, Departments and Agencies. He said...

Nigeria, Others’ GDP To Hit $7trn By 2035, Says ACFTA       Nigeria and other African countries’ gross domestic product (GDP) will reach $7trillion by 2035 because of their huge market, the African Continental Free Trade Area (ACFTA) said on Monday. Its Secretary-General, Wamkele Mene, who spoke during...