Weak Purchasing Power Pushes Unsold Goods to N1.24trn, MAN Reveals
The Manufacturers Association of Nigeria (MAN) has stated its unsold manufactured goods have reached a record N1.24tn, as its unsold inventories increased by 357.57 per cent in the first half of 2024.
MAN attributed this sharp...
FG Pays N205bn From N1.3trn Owed Power Generation Companies
The federal government yesterday said it had offset N205 billion from the N1.3 trillion debt owed Generation Companies (Gencos) to raise the level of liquidity in the power sector.
The government also stated that the noticeable improvement...
World Bank, AfDB Move To Invest $7.5bn In Nigeria’s Power Sector
The Minister of Power, Adebayo Adelabu, has said that the World Bank and the African Development Bank have concluded plans to invest $30bn in boosting electricity in Africa.
Of this sum, Adelabu said Nigeria will...
Tinubu: After One Year, Where is the Light
By Lawal Dahiru Mamman
The power sector has long been a critical concern in Nigeria. Prior to the 2023 general elections, President Bola Ahmed Tinubu promised, in his manifesto, to revamp this important sector of the economy.
"Nigeria's growth...
EU To Invest €37m In Nigeria’s Power Sector
The European Union (EU) is set to invest €37 million in the power sector in Nigeria, in addition to the about €200 million grants it has invested in the sector since 2008.
This disclosure was made by the...
Nigerian Power Firms Need $2.5bn New Capital - FG
Nigerian electricity companies are short of an estimated N2tn ($2.5bn) in capital and need new investors to revive the industry that can barely supply power to its 200 million residents.
Power companies in Nigeria are over-leveraged and...
