Electricity Tariff: FG Denies Possible Increase, says Subsidy may Hit N2.4trn in 2025 Electricity consumers, especially about 30 percent of Nigerians, who live in urban centres will be subsidised to the tune of N2.4 trillion in 2025, although generation will remain epileptic. The subsidy, which hovers...

Unmetered Electricity Customers Now 7.3 million – NERC Metering of electricity customers across the country has remained a challenge as number of unmetered customers rises to 7.3 million. The latest figures, released by the Nigerian Electricity Regulatory Commission (NERC) showed that out of over 13.16 million...

UPDATE: NDIC Completes 84.98% Payment to Depositors of Defunct Heritage Bank The Nigeria Deposit Insurance Corporation (NDIC) said it has paid 84.98 per cent of the depositors whose funds are trapped in liquidity to the Heritage Bank. The CBN announced the revocation of the licence of...

Why FCCPC Should Not Ask Traders to Crash Prices – CPPE The Centre for the Promotion of Private Enterprise (CPPE) has advised the Federal Competition and Consumer Protection Commission (FCCPC) to avoid controlling the prices of goods. On Thursday, FCCPC gave businesses a one-month ultimatum to...

Heritage Bank: 17.6% of Deposits Unpaid Due to Verification Issues The Nigeria Deposit Insurance Corporation (NDIC) has disclosed that 17.6 per cent of Heritage Bank depositors had yet to receive payments, following the bank’s liquidation. The corporation, in a statement by its spokesperson, Bashir Nuhu, on...

Senate Passes N70,000 Minimum Wage Bill for Workers The Senate passed a Bill on Tuesday, July 23, amending the National Minimum Wage Act to increase the minimum wage from N30,000 to N70,000 after the first, second, and third readings. By this development, the bill will now...