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Nigeria’s total public debt to hit N160.98tn, as fresh $1.25bn World Bank loan nears approval
As a fresh World Bank loan by the federal government nears approval, the country’s total public debt profile is now projected to reach N160.98 trillion. This figure is sharp rise from the N87.38 it stood, as at the assumption…
PoS transactions set to hit N8.96trn in May
Point-of-Sale (PoS) transactions in Nigeria are set to reach N8.96 trillion by the end of May 2026, rebounding from a slight 1.82 per cent dip suffered in April, this year. According to payment system data, PoS transactions stood at…
Enugu Electricity downgrades 59 feeders over poor performance
Enugu Electricity Regulatory Commission (EERC) has downgraded 59 electricity feeders operated by MainPower Electricity Distribution Company Limited over what it described as persistent failure to meet the minimum power supply hours required under the Service-Based Tariff regime. MainPower, a…
NCDMB to host 2026 midstream, downstream stakeholders summit in Lagos
Nigerian Content Development and Monitoring Board has announced plans to host the 2026 Oil and Gas Midstream and Downstream Stakeholders Summit as part of efforts to deepen collaboration, investment and policy engagement across Nigeria’s energy sector. The announcement which was…
Africa’s $194bn revenue gap, $89bn annual losses impose development strain
Kemi Olowu Africa’s domestic resource mobilization gap is estimated at around $194 billion annually, underscoring a deep fiscal shortfall that continues to constrain development spending across the continent, according to experts from the West African Tax Administration Forum (WATAF) and…
MAX secures $8m debt funding for E-Mobility operation across Africa
Frank Okon Metro Africa Xpress (MAX) has secured $8 million in debt financing from Triple Jump to support the expansion of its electric mobility operations across Africa, in a deal arranged by Verdant IMAP. The funding marks an important milestone…
OML 100: TotalEnergies to displace FSO Unity with FSO Adiana by End-2027
Ziggy Ojiegbe TotalEnergies Exploration and Production Nigeria (TEPN) Limited, operator of the Joint Venture between TotalEnergies and NNPC Limited, has announced plans to deploy a new floating storage and offloading (FSO) vessel, FSO Adiana, offshore Nigeria by the end of…
Ekpo seeks Nigeria’s associate membership of International Energy Agency
Frank Okon Nigeria has formally applied to join the International Energy Agency as an associate member, marking a significant step in the country’s effort to strengthen its role in global energy governance. The development was disclosed on Wednesday by IEA…
Invest $37bn in girls to unlock $400bn income by 2040, World Bank tells Nigeria
Kemi Olowu World Bank has urged Nigeria to invest approximately $37 billion in adolescent girls over the next 15 years to unlock long-term economic growth and generate more than $400 billion in additional national income by 2040. The Washington-based institution…
Dangote’s East Africa Refinery, 20,000MW power plans signal continental expansion
Ziggy Ojiegbe Plans by Nigerian industrialist Aliko Dangote to replicate his $20 billion Lagos refinery complex in East Africa emerged as one of the defining announcements at the just concluded Africa Forward Summit hosted by the governments of Kenya and…
