RMAFC Questions Constitutionality, Equity in Tinubu's Tax Reforms The Revenue Mobilisation, Allocation and Fiscal Commission (RMAFC) has strongly opposed President Bola Ahmed Tinubu's contentious tax reform bill currently under consideration by the National Assembly. In a comprehensive nine-page memorandum obtained by Economic Confidential, RMAFC outlined a...

GenCos Received Below 40% of 2024 Invoice The Nigerian Electricity Regulatory Commission (NERC) has admitted that power generation companies in the country have so far received less than 40 percent of their 2024 invoice. Yusuf Ali, commissioner, planning research and strategy at NERC, made this known...

Report Reveals How 29 States Spent N2tn on Recurrent Expenditures A total of 29 state governors spent N1.994tn on recurrent expenditures, including refreshments, sitting allowances, travelling, and utilities in the first nine months of 2024. It was also gathered that the states obtained a N533.29bn loan,...

FG Vows to Exceed OPEC Oil Production Quota in 2025 The Minister of State Petroleum Resources (Oil), Senator Heineken Lokpobiri, has stated that the plan to produce 2.06 million barrels of crude oil per day in 2025 remains on course despite the 1.5mbpd oil production...

Port Harcourt Refinery's Second Plant Under Progress – Onanuga The Special Adviser on Information and Strategy to President Bola Tinubu, Mr Bayo Onanuga, has said work is currently ongoing at the 150,000 barrels per day plant of the Port Harcourt Refining Company in Rivers State. PHRC...

World Bank's $200m Used to Expand Power Transmission – TCN The Transmission Company of Nigeria, TCN, says it is expanding its capacity nationwide with a $200m World Bank project to ensure sufficient electricity supply. The Managing Director, TCN, Sule Abdulaziz, disclosed this on Wednesday when he...