10m Households To Get N5,000 As Subsidy Palliative For Six Months - FG   The federal government will pay N5,000 to 10 million households for six months as palliative for removing petrol subsidy after June. Economic Confidential reports that the amount is N50 billion per month and...

NSIA Assets Rise to N1trn, Attract $500m FDI   The Nigeria Sovereign Investment Authority (NSIA) says it grew its net assets by 10.5 per cent to N1.02tn in 2022 from N919.73bn in 2021. The Sovereign Wealth Fund manager disclosed that earnings from interest income, infrastructure business revenue,...

Substandard Tyres Worth 10 million Destroyed in Six Months - SON   The Standard Organisation of Nigeria (SON) has revealed that it destroyed 10 million substandard tyres in six months. In a statement, the Director General of SON, Mallam Farouk Salim, said this at a one-day sensitisation...

FG Says Fuel Subsidy, Oil Theft Gulped N29trn   The Federal Government, disclosed that the amount spent on subsidising Premium Motor Spirit, popularly called petrol, between 2005 and 2021 was N13tn, adding that the country lost N16.3tn to oil theft from 2009 to 2020. It disclosed this...

KLT Command Rakes in N10.572bn in Q1   Kirikiri Lighter Terminal (KLT) command of the Nigeria Customs Service says it generated the sum of NI0.572 billion in revenue between January and March 2023, which represents 76.87 per cent of its expected revenue for the first quarter. This...

BEDC Spends N11bn to Purchase Energy from NBET Monthly, Says MD   The Managing Director/Chief Executive Officer, Benin Electricity Distribution Company (BEDC), Deolu Ijose, has revealed that the company needs the cooperation of electricity consumers in its franchise states to meet their demands as it gets...