Power: AfDB Signs $200m For Nigeria’s Projects   The African Development Bank has signed for the release of $200m (about N61.2bn) to Nigeria for the expansion of the country’s power transmission infrastructure. It was gathered in Abuja on Monday that the fund signed last week by the...

Power Sector Loses N117.8bn To Gas Shortage   Between January 1 and March 6, Nigeria’s power sector lost N117.8bn, investigation has shown. Findings showed that the sector kept losing billions of naira daily, as it lost as much as N2bn daily in some days during the period...

MDAs Record N13.72bn Revenue Shortfall   The sum of N622.9bn was remitted to the Federal Government by its ministries, departments and agencies between January and December last year as captured under the Fiscal Responsibility Act. The revenue collection of N622.9bn when compared to the N631.08bn target set...

FG Okays $2.571bn Loan Facility For Gas Pipeline   The Federal Government wednesday approved the issuance of $2.571 loan facility classified as a sovereign guarantee to fund what it described as engineering procurement and construction (EPC) contract for the Ajaokuta-Kaduna-Kano gas pipeline project. Briefing journalists at the...

Three Refineries Recorded N12.6bn Operational Expenses - NNPC   The Nigerian National Petroleum Corporation (NNPC) has said its three national refineries undergoing rehabilitation recorded N12.6 billion operational expenses last November. Its monthly financial and operational report for November 2019 said the combined value output by the refineries...

AfCFTA: Nigeria Can Generate $537bn Annually From Exports – DBN   Managing Director, Development Bank of Nigeria (DBN), Tony Okpanachi has projected that the soon-to-be-implemented Africa Continental Free Trade Area (AfCFTA) holds great economic development potential for Nigeria. Okpanachi believes that regional integration through trade would propel...