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Nigeria’s external reserves jump by 2.5% to reach $49.58 in May
Central Bank of Nigeria (CBN) Economic Report for May has reported a rise in the External Reserves of the country to $49.58 billion May 29, from the $48.36 recorded in April, this year. According to the CBN, the figure represents an…
2026 oil, gas licensing round to kick off Q3, 2026 — NUPRC
Nigerian Upstream Petroleum Regulatory Commission (NUPRC) has announced that the 2026 oil and gas licensing round will kick off by the third quarter of 2026. According to the NUPRC, the announcement follows approval from the Minister of Petroleum Resources, Heineken Lokpobiri….
Amid persistent blackouts, DisCos rake in N598bn Q1, 2026
Nigerian Electricity DisCos Regulatory Commission (NERC) has disclosed that distribution companies (DisCos) in the country generated a combined total of N597. 55 billion in revenue during the first quarter of 2026. According to the NERC data, 11 electricity distribution companies generated…
NERC approves compensation for Band A electricity customers hit by blackouts
Nigerian Electricity Regulatory Commission (NERC) says it has approved a compensation package for eligible Band A customers affected by power supply shortfalls caused by grid generation constraints between February and March 2026. In a public notice issued on Thursday, June 4, NERC…
Pension assets hit N30trn in April — PenCom
Nigeria’s pension assets jumped by 4.8 per cent to hit a record N30.94 trillion in April 2026, according to the National Pension Commission (PenCom). The commission noted that the development further represents a growth of 4.8 percent compared with N29.52…
Akwa Ibom inaugurates State Electricity Regulatory Commission to stabilize power supply
Governor Umo Eno has formally inaugurated a five-member board of the Akwa Ibom State Electricity Regulatory Commission (AKSERC), tasked with transforming the state’s power sector within 18 months to guarantee reliable electricity supply and accelerate economic growth. The commission has…
NIMASA reaffirms Nigeria’s commitment towards deepening maritime cooperation with Liberia, others
Nigerian Maritime Administration and Safety Agency (NIMASA) has reaffirmed its commitment towards advancing regional maritime integration, cooperation and capacity development with Liberia, and across Africa. Director-General of NIMASA, Dr Dayo Mobereola, who stated this while receiving the Honorary Consul of the…
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,”…
Supreme Court dismisses suit challenging Unity Bank/Providus Bank merger for lacking merit
Supreme Court has effectively ended the long-standing dispute over the proposed merger between Providus Bank Limited and Unity Bank Plc, as a unanimous judgement of the apex court set aside an Appeal Court ruling opposing the transaction. In a unanimous…
CBN upgrades Abbey Mortgage Bank to regional banking status
Central Bank of Nigeria (CBN) has approved the upgrade of Abbey Mortgage Bank Plc to a commercial banking institution, just as the new player in the sector fixed the fourth quarter of this year as date to commence full operations. Making…
