REA Announces Completion Of N28.7bn Projects From 2023 Budget   The Rural Electrification Agency (REA) yesterday said it has completed N28.7 billion projects out of its N31.7 billion allocation in 2023. Its Acting Managing Director, Engr. Abba Aliyu said this during the presentation of REA 2023...

FG Pays N205bn From N1.3trn Owed Power Generation Companies The federal government yesterday said it had offset N205 billion from the N1.3 trillion debt owed Generation Companies (Gencos) to raise the level of liquidity in the power sector. The government also stated that the noticeable improvement...

'Banks’ Assets Rise To N121.8trn' The total assets of the banking sub-sector of Nigeria’s Financial & Professional Services Sector, has risen by 56.14 per cent to N121.8tn. This was disclosed in the State of Enterprise 2024 Report released by the EnterpriseNGR on Monday. EnterpriseNGR is a member-led...

Nigeria Secures $500m Loan To Support Energy Transition Programme The African Development Bank (AfDB) Group has approved a loan of $500 million to Nigeria to finance the first phase of the economic governance and energy transition support programme (EGET-SP). EGET-SP is an initiative aimed at accelerating...

FG Seeks $500m World Bank Loan For Water Resource Management The Federal Government has requested a $500m loan from the World Bank to improve dam safety and enhance water resource management across the federation. This loan is expected to address the country’s water security challenges and...

SERAP Sues CBN Over Failure to Account for N100bn 'Bad Notes' Socio-Economic Rights and Accountability Project (SERAP) has filed a lawsuit against the Central Bank of Nigeria (CBN) “over the failure to account for and explain the whereabouts of the over N100 billion ‘dirty and...