Discos Failed To Remit N119.88bn In Three Months – NERC         The 11 power distribution companies operating in Nigeria failed to remit N119.88bn in the first quarter of the year, the Nigerian Electricity Regulatory Commission has said. In its quarterly report for the first quarter released on...

Reps Probe NDDC N6.2bn COVID-19 Fund Diversion, N139bn Fraud         The House of Representatives has begun investigation into the alleged diversion of N6.2bn meant for COVID-19 palliatives under the Niger Delta Development Commission at the peak of the pandemic. The House is also investigating the mismanagement of...

FG Budgets N3.85trn for Capital Projects in 2021 The 2021 budget estimates submitted to the National Assembly by President Muhammadu Buhari has N3.85 trillion for capital projects. Minister of Finance, Budget and National Planning Mrs Zainab Ahmed disclosed at the budget breakdown held in Abuja. Mrs Ahmed...

Budget 2021: FG Earmarks N152bn For Electricity       The Federal Government is to pay power generation companies through Nigerian Bulk Electricity Trading, NBET, the sum of N152.416 billion in 2021. According to details of the 2021 budget now before National Assembly, this forms one of the largest...

GenCos Sell N294.16bn Electricity In Five Months       Electricity generation companies in the country sold electricity worth N294.16bn in the first five months of this year to the Nigeria Bulk Electricity Trading Plc. The government-owned NBET buys electricity in bulk from Gencos through Power Purchase Agreements and...

Fed Govt To Fund Electricity Agency With N152bn In 2021     In spite of the public outrage over last week’s electricity tariff hike which the government said it was meant to fund electricity infrastructure, the federal government is set to spend additional N152.416 billion in funding...