Nigeria Spends Over N13trn On Subsidy - NEITI   Nigeria expended over N13.69 trillion between 2005 to 2021 to finance subsidy payments, the Executive Secretary, Nigeria Extractive Industry Transparency Initiative (NEITI), Orji Ogbonnaya Orji, has said. “We have outlined what needs to be done in our policy...

Kwara Govt Approves N10,000 Monthly Palliative For Public Workers   The Kwara State Governor, Alhaji AbdulRahman AbdulRazaq, has approved palliatives of a monthly cash support of N10,000 for every public sector workers in the state. AbdulRazaq, however, said the palliative would begin in July and last until...

IMF Says Insecurity Will Slow Nigeria’s Economic Growth   The International Monetary Fund (IMF) has projected that Nigeria’s economic growth will decline in 2023 and 2024 due to security issues in the oil sector. It stated that the country’s economy would grow at 3.2 per cent in...

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...

Fed Govt To Stop Multiple Revenue Agencies   Following persistent outcry of the Nigerian Organised Private Sector against multiple taxation from the three tiers of government, has hinted of an impending plan to shrink the number of revenue collection agencies in a bid to boost ease...