Electricity Consumers Pay N783bn as Subsidy Gulps N376bn   The Federal Government spent N375.8bn on electricity subsidy between January and September this year, as power consumers paid a total of N782.6bn for the commodity during the same period, it was gathered on Sunday. The latest power subsidy...

Report: Nigeria, Others Spend $441bn on Debt Servicing – World Bank Nigeria and other developing countries have spent about $441bn on debt-serving in the past 40 years, according to a new World Bank report. The World Bank report also disclosed that Nigeria received $2.9b and topped...

Naira Appreciates Against Dollar at Forex Market The Naira appreciated against the US dollar on Thursday at the official and parallel foreign exchange markets. Official data from FMDQ disclosed that it appreciated to N901.41/$1 at the close of work on Thursday. The figure represents a N3.15 gain...

FG To Spend N600bn On Electricity Subsidy In 2023   The federal government might have to pay N600bn as electricity subsidy in 2023. The Chairman/CEO of the Nigerian Electricity Regulatory Commission (NERC), Engr. Sanusi Garba made the disclosure at the ministerial retreat on the Integrated National Electricity...

Senate Condemns Trade Ministry Over Alleged N1bn Geneva Trip   The Senate Committee on Trade and Industry on Tuesday condemned the alleged allocation of N1bn for a foreign trip to Geneva, Switzerland, by the Ministry of Trade and Investment. Members of the panel gave the condemnation when...

Inflation: CBN to Maintain Tight Monetary Policy in 2024   The Central Bank of Nigeria (CBN) is likely to maintain a tight monetary policy stance to rein in inflation in 2024 according to analysts. Tight monetary policy is a set of measures taken by a country’s Central...