Amidst Hike in Tariff, Power Generation Crashes to 3,383MW The recent increase in electricity tariff by the Nigerian Electricity Regulatory Commission, NERC, has failed to translate to improvement in power supply as on-grid generation fell to 3,383 Mega Watts as at 3pm yesterday. According to the...

We Will Step Up Interventions in Oil and Gas Sector for Enhanced Investment Values - Tinubu   President Bola Ahmed Tinubu has given an assurance that his government will continue to provide the needed interventions in the oil and gas industry in line with the provisions...

In Two Years, Nine Oil Producing States’ Debts Skyrocket Despite N1.88trn Derivation Fund   Despite receiving N1.885 trillion from the 13 per cent oil derivation fund in two years, the nine oil-producing states’ debts as a result of loans taken from local and foreign lenders have...

How External Debt Servicing Gulped $3.07bn in 10 Months – CBN Latest data obtained from the Central Bank of Nigeria (CBN) has revealed that Nigeria spent about $3.07 billion towards servicing external debt. This represents a 38 per cent increase, higher than the $2.22 billion spent...

Currency Outside Banks Surges To N3trn - CBN   Recent data released by the Central Bank of Nigeria (CBN) has revealed a notable spike in currency outside the banks during the month of November 2023, reaching unprecedented levels based on historical records. According to the Money and...

FG Spends Over N5trn To Cover Electricity Subsidy In 10 Years   The federal government’s effort to subsidise electricity tariff for Nigerians has seen it cough out over N5 trillion in the last 10 years amounting to over 664 per cent growth, data from the Nigerian...