NERC: Togo, Benin Q2 Electricity Debt To Nigeria Hits N770m   The Nigerian Electricity Regulatory Commission (NERC) says the Republic of Benin, Niger Republic, Togo did not pay N770 million electricity bill owed Nigeria in the second quarter of 2021. The commission disclosed this in its second-quarter...

Chinese Loan Rises By $330m In One Year, Now $3.59bn On 15 Projects   Nigeria’s debt to China increased from $3.26bn as of September 30, 2020, to $3.59bn as of September 30, 2021, showing an increase of $330m in one year. This is according to an analysis...

Reps Order Probe Of Navy’s $195.3m Equipment Contract To Foreign Firm   The House of Representatives has mandated its Committee on Navy to investigate whether the Deep Blue contract agreement is in line with extant laws and regulations, and the standards of all platforms purchased for...

Nigeria Secures $210m AfDB Loan To Boost Agriculture   The African Development Bank’s Board of Directors announced on Tuesday the approval of a $210m loan for Nigeria’s Special Agro-Industrial Processing Zones, which it said would boost the agricultural sector. The AfDB said in a statement, “A $210m...

$197m 5G Mock Auction Holds Friday, Rollout Begins 2022 In 12 States     The Nigerian Communications Commission has said Nigeria’s 5G plan will allow efficient allocation of spectrum for 5G deployment, and ensure its effective deployment in major urban cities by 2025. The commission also disclosed that...

External Reserves Lost $610m In November     The nation’s external reserves fell by $610m last month, figures obtained from the Central Bank of Nigeria on Thursday revealed. The reserves dropped to N$41.22bn as of November 29 from $41.83bn on October 29. The CBN also disclosed that at the...