President Bola Ahmed Tinubu has inaugurated an 11-member committee to oversee the establishment of the Grid Asset Management Company Limited (GAMCO), a new initiative aimed at addressing Nigeria’s persistent electricity transmission and grid management challenges.
Banks' Credit to Manufacturers Declines by 20% to N60.4trn
Nigerian deposit money banks disbursed a total of N60.35tn in credit to the manufacturing sector in the first nine months of 2025, a 20.44 per cent decline from the N75.86tn recorded in the corresponding period of...
Pension Funds Soar to N28trn with Over 11m Contributors
The Nigerian pension fund industry started 2026 on a high note, with total pension fund assets surging to a new milestone of N28.04 tn as of 31 January 2026, indicating a 22.64 per cent appreciation in...
REA Targets 500 Power Projects with N170bn 2026 Budget
The Rural Electrification Agency (REA) has unveiled plans to execute more than 500 electrification projects in the 2026 fiscal year, as part of a N170bn budget proposal aimed at expanding reliable power supply to public institutions...
GenCos Reject Presidency's N2.8trn Debt Deal
The Association of Power Generation Companies (GenCos) has firmly rejected claims by Presidency sources that N2.8tn constitutes a newly verified and final settlement of legacy debts owed to electricity generation companies, describing the assertion as inaccurate and misleading.
In a...
Banks, Telcos Settle N300bn USSD Debt Dispute After 4 Years
Banks and telecommunications operators in Nigeria have ended a four-year dispute over nearly N300bn owed for Unstructured Supplementary Service Data services, with the debt now fully cleared, the Association of Licensed Telecommunications Operators of Nigeria...
