News

The Federal Government has stated that the removal of the petrol subsidy by President Bola Tinubu ended a historic financial drain that cost Nigeria over $84bn and has helped finance 40 critical road projects across the country in two years.

Electricity distribution companies recorded a shortfall of over N202bn in their revenue collections for the first quarter of 2025, despite a rise in electricity billing across the country, an analysis of official industry data.

A recent report released by the African Export-Import Bank (afreximbank) says three countries, South Africa, Egypt, and Nigeria, are responsible for one-third of Africa’s external debt stock.

Six depot owners across the country have reduced the prices of petrol as competition increases in the downstream sector of the petroleum industry.

The International Air Transport Association (IATA) has expressed concern over the high operating costs of airlines in Africa.

Federal Government, has revealed that Nigeria’s push towards alternative transportation fuels has attracted over $500m in investments and converted more than 50,000 vehicles to run on Compressed Natural Gas within its first year.