Foreign Exchange: 136% of 2023 Inflows Recorded in QI – Cardoso The Governor of the Central Bank of Nigeria (CBN), Olayemi Cardoso, has disclosed that the foreign exchange inflows recorded in the first quarter of 2024 into Nigeria were about 136 per cent of the...

REA Signs MoU to Generate 500MW Electricity in Rural Communities The Rural Electrification Agency (REA) has signed two Memoranda of Understanding to generate 500 megawatts of renewable energy to electrify rural communities across the nation. The 500MW would be delivered through various min-grids to be constructed...

NNPC, Others Deploy Electric Vehicle Charging Stations The Nigerian National Petroleum Company Limited (NNPCL), Shafa Energy, and Nigus, on Thursday, commenced the deployment of electric vehicle charging points at filling stations in Nigeria. Partners in the deal signed a tripartite Memorandum of Understanding during the flag-off...

DisCos Generate N1.1tn in 2023 The Federal Government spent N628.61bn as subsidy on electricity in 2023, as power distribution companies collected a total revenue of N1.08tn during the same period, the latest industry data obtained from the Nigerian Electricity Regulatory Commission on Wednesday showed. An analysis...

Naira Exchanges for N1,515/$ in Parallel Market The Naira yesterday depreciated in the parallel market to N1,515 per dollar from N1,495 per dollar on Wednesday. Similarly, the Naira depreciated to N1,485.66 per dollar in the Nigerian Autonomous Foreign Exchange Market, NAFEM Data from FMDQ showed that the...

First Phase of Student Loan Scheme launched The pilot phase of Nigeria’s student loan scheme has gone live with federal tertiary institutions as beneficiaries. President Bola Tinubu enacted an initial version of the student loan policy in June 2023 to grant interest-free loans to students. The scheme...