Electricity Tariff Hike Looms as Monthly Subsidy Hits N181bn Electricity customers on Band A feeders may need to brace up for a possible tariff increase following the rise in the electricity tariff shortfall otherwise known as subsidy. The electricity subsidy to be paid by the Federal...

FG Saves N900bn for Infrastructural Funds With a monthly deduction of N100bn from the gross revenue of the federation, the Federal Government has saved a total sum of N900bn proposed to be spent for state governments’ infrastructural development and security between November 2023 and July...

Minimum Wage: FG, Trade Unions Agree on Consequential Salary Adjustments The Committee on Consequential Adjustment in Salaries Arising from the National Minimum Wage Act, 2024, has reached an agreement on the consequential salary adjustments for public sector employees. The Committee, formed a week ago, has finalised...

Foreign Reserves Record $2.35bn Net Inflow – Finance Minister The Minister of Finance and Coordinating Minister of Economy, Wale Edun, says Nigeria’s foreign reserves have seen a net inflow of about $2.35bn into the Central Bank’s coffers. He disclosed this at the Corporate Customers Forum in...

Public, Private Pension Contributions Rise to N11tn – Report A report on 20 years of pension reforms in Nigeria obtained on Thursday showed that pension contributions from the public and private sectors rose to N11tn in the second quarter of 2024. The Chief Executive Officer of...

Oil Producers Not to Blame for Fuel Price Hike in Nigeria - OPEC The Secretary General of the Organization of Petroleum Exporting Countries (OPEC), Haitham Al Ghais, has said that oil producers are not responsible for the hike in fuel prices in Nigeria. According to OPEC,...