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NERC commences net billing scheme for ‘prosumers’ to sell excess solar electricity to grid
Nigerian Electricity Regulatory Commission (NERC) says it has commenced its Net Billing Regulations 2026 aimed at encouraging sale of excess power by individuals to their distribution companies (DisCos). According to the NERC, the scheme provides for eligible customers, known as “Prosumers,”…
Foreign portfolio investment drives Nigeria’s capital inflow, despite FDI slump by 80% — CBN
Central Bank of Nigeria (CBN) Economic Report, in its latest, has revealed that foreign direct investment (FDI) inflows into the country dropped by 80 per cent in January, this year, even as capital from foreign portfolio investment surged. The regulatory bank,…
N100, 000 proposed national minimum wage unrealistic — OPS
Amid demand by labour groups on the federal government to raise the national minimum wage from its present N70, 000 to N100, 000, private sector stakeholders have dismissed the demands as unrealistic, even as they insist it should not cut…
31 MDAs adopt FG’s revenue optimisation platform
Total of 31 ministries, departments and agencies (MDAs) of government have adopted the Revenue Optimisation and Assurance Platform (RevOP) and the Federal Treasury e-Receipt (FTe-R) to improve overall transparency in Federal Government financial operations. This was disclosed, Tuesday, during a…
CBN cites withdrawal of forbearance, loan reclassification for 8.03% rise in NPLs ratio
Banks’ non-performing loans (NPLs) ratio jumped to 8.03 per cent, seven months after the Central Bank of Nigeria (CBN) ended key regulatory forbearance measures that had allowed banks to restructure troubled loans without immediately classifying them as impaired. According to…
FG’s N40bn debt, others crippling operations of Ibom Power Company — Gov. Eno
Federal Government’s N40 billion debt owed to the Ibom Power Company (IPC) is crippling operations of the state-owned generating company (GenCo), according to Governor Uno Eno. The Akwa State governor, Eno who disclosed this, weekend, during a media briefing in…
Banks’ lending to MDAs hit N39.60trn in 1yr, as credit to private sector drops by 15% — CBN
Central Bank of Nigeria (CBN) data for April has disclosed that while Nigerian banks raised credit to the public sector of the economy, the same facility to the private sector dropped, in one year period under review. According to the…
ALTON welcomes FCCPC’s suspension of DEON regulation
Association of Licensed Telecommunications Operators of Nigeria (ALTON) has welcomed the decision by the Federal Competition and Consumer Protection Commission (FCCPC) to suspend enforcement of the controversial Digital, Electronic, Online, or Non-traditional Consumer Lending (DEON) regulations against mobile network operators…
Nigeria may miss 2027 growth target as economic recovery remains slow
There are growing indications that Nigeria may fall short of the federal government’s ambitious target of achieving a 7 per cent economic growth rate by 2027, as the pace of recovery remains modest and the gap between current performance and…
Informal economy reflects governance failure — Brookings
As governments across sub-Saharan Africa intensify efforts to broaden their tax bases by targeting micro, small and medium-sized enterprises (MSMEs) that account for nearly 90 per cent of jobs in the region, a new report by the Brookings Institution argues…
