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FG to issue fresh N729bn bond for GenCos settlement, as legacy debt rises to N6.8trn
Nigerian government has disclosed that it is pushing ahead with the second tranche of about N729 billion bond issue to settle part of the power sector’s legacy debt to Electricity Generation Companies (GenCos). The Nigerian Bulk Electricity Trading Plc (NBET) confirmed…
Cooking gas prices drop amid supply surge
Retail prices of the Petroleum Liquefied Gas (LPG) also known as cooking gas have dropped massively from the N2, 300+/kg across the country to as low as N1, 000/kg, as confirmed by the Nigerian Association of Liquefied Petroleum Gas Marketers…
FEC approves $2.96bn, €200m, N215bn financing for transport, agric, power, MSMEs sectors
Federal Executive Council (FEC), Monday, approved a series of financing arrangements worth about $2.96 billion, €200 million and N215 billion to boost transportation, agriculture, power, infrastructure and micro, small and medium enterprises (MSMEs). Disclosing after the FEC meeting in Abuja,…
ProvidusUnity Bank announces commencement of unified operations
Fresh from its recent merger deal, the ProvidusUnity Bank has announced official commencement of operations as a single banking institution. The new bank disclosed that it has completed all regulatory approvals, shareholder endorsements and judicial processes required to consummate the business…
FG may clamp down on petrol marketers over continued high pump prices
Federal Government has expressed displeasure with Premium Motor Spirit (PMS) or petrol marketers over the continued high pump price of the product despite the easing of global tensions in the Middle East which triggered the rise in the first place. The…
Petroleum products’ pump prices continue rise nationwide in May, as diesel records 86% increase — NBS
Latest Price Watch data released by the National Bureau of Statistics (NBS) has shown that May pump prices of the three major petroleum products continued to rise compared to same period last year. The NBS data disclosed that diesel recorded the…
Tinubu approves free CAC registration for 250,000 MSMEs nationwide
President Bola Tinubu has approved the free formalisation and corporate registration of 250,000 Micro, Small, and Medium Enterprises (MSMEs) across the country. Presidency which confirmed the development, Saturday, at the State House in Abuja during the 8th National MSME Awards 2026, explained…
SMEDAN launches zero-interest N500m ‘Grow Fund’ scheme for MSMEs
Small and Medium Enterprises Development Agency of Nigeria (SMEDAN) has launched a N500 million zero-interest revolving loan scheme, tagged ‘Grow Fund,’ to provide easier access to finance for members of business and professional associations across the country. Director-General of SMEDAN, Charles…
FCCPC places 112 loan apps on watchlist over infraction, grants operational licenses to 48 others
Federal Competition and Consumer Protection Commission (FCCPC) has granted full operational approvals to 48 digital loan companies that previously held conditional approval, bringing the total number of fully licensed digital money lenders in Nigeria to 505. This is also as the…
Ikeja Eectric appoints Onyelucheya Acting CEO, replaces Soetan
Electricity distribution company (DisCo) distribution company in the country, the Ikeja Electric (IE), has appointed Mrs. Ogochukwu Onyelucheya as its Acting Chief Executive Officer (CEO), effective from July 1, 2026. The appointment follows the elevation of outgoing CEO, Mrs. Folake Soetan…
