Benin, Niger Owe Nigeria N32.1bn Electricity Debt - NERC   The Nigerian Electricity Regulatory Commission (NERC) has disclosed that a total of N32.1 billion is the outstanding debt owed the country by Benin and Niger Republic for electricity supply to the two countries in 2019. Four reports...

COVID-19 Funds: CBN Disburses N107.45bn To Beneficiaries   At least N107.45 billion has been accessed by beneficiaries from the N1.15 trillion Central Bank of Nigeria’s (CBN’s) COVID-19 pandemic intervention funds within the last 90 days, data by the apex bank has indicated. The data showed that close...

AfDB Supports Nigeria’s COVID-19 Response Program With $288m Loan   The Board of Directors of the African Development Bank (AfDB) has approved a $288.5 million loan for Nigeria to tackle the COVID-19 pandemic and mitigate its impact on people and businesses. The loan, according to the bank,...

Contributory Pension Assets Rose By N359bn In Four Months   Despite the challenges in the economy occasioned by the coronavirus pandemic, the total pension assets under the Contributory Pension Scheme rose by N359bn from N10.2tn as of the end of December 2019 to N10.57tn as of...

CBN Offers Local Drug Manufacturers N500m Maximum Grant     The Central Bank of Nigeria has unveiled guidelines for stakeholders interested in accessing the newly introduced funds for local healthcare research and development. The CBN said the scheme would be funded from the developmental component of the Micro, Small and...

GenCos Loses N122.79bn To Capacity Challenges In Five Months     Nothing less than N122.79 billion has been lost by Nigeria’s power generation companies (GenCos) between January to May this year. Pioneer Executive Secretary of the Association of Power Generation Companies, Dr. Joy Ogaji, said while available capacity...