Discos To Refund $1.2bn For 374 Projects - NDPHC   The Niger Delta Power Holding Company Limited (NDPHC)on Tuesday, said it had executed over 374 projects in the distribution subsector of the Nigerian electricity supply industry to boost power supply nationwide. It also stated that the projects,...

EXCLUSIVE: How 36 Governors Borrowed N2.2trn From Nigerian Banks   Amid worsening revenue challenges, state governments’ indebtedness to commercial banks has risen to N2.2trn. The latest data from the quarterly statistical bulletin of the Central Bank of Nigeria, obtained by our correspondents, showed that states and LGAs...

FG to Support Ondo Farmers with N400m Agricultural Fund The state Commissioner for Agriculture and Forestry, Olayato Aribo, has disclosed that the Federal Government will spend more than N200 million on the distribution of inputs to farmers in the state and N200 million on the...

FG Recorded N13.33bn Revenue Loss From Gas Flaring Fines   The Federal Government recorded a revenue shortfall of N13.33bn from gas flaring penalties issued against oil and gas firms in January and February 2023. It was earlier reported that the Federal Government would impose $49m (N22bn) fine...

'Subsidy Removal Expected To Generate Fiscal Savings Of N2trn By Year End' The removal of the PMS subsidy is expected to provide fiscal savings of N2 trillion in 2023 and this, together with earnings from improved oil exports and non-oil sources would buoy government’s revenue. According...

We Recovered N471.82bn Intervention Loans In Six Months – CBN   The Central Bank of Nigeria (CBN) has said it recovered N471.82bn as cumulative repayment from the bank’s intervention programmes in the first half of 2022. According to the apex bank’s half-year report for 2022, the recovery...