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Lagos moves to scrap electricity band model, plans uninterrupted power supply
Lagos Government has announced plans to scrap the electricity customer band system introduced by the Nigerian Electricity Regulatory Commission (NERC). This it added is in line with efforts to achieve more stable power supply across the state. Under the framework introduced…
CBN opens N650bn offer for NTBs auction
Central Bank of Nigeria (CBN) has opened for offer N650 billion worth of Nigerian Treasury Bills (NTBs) at its scheduled auction, Wednesday in what marks the second issuance for the month under the Federal Government’s second-quarter borrowing programme. The auction,…
AIICO deepens commitment to education with upgrade of Learning Hall at CIFM
AIICO Insurance has announced the completion of upgrade of the ‘AIICO Hall’ located at the College of Insurance and Financial Management (CIFM) to a standard learning centre complete with modern facilities. The newly-upgraded hall is now outfitted with state-of-the-art multimedia infrastructure,…
DAPPMAN accuses Dangote Refinery of plotting private monopoly in fuel market
Responding to the recent lawsuit filed against the Federal Government by the Dangote Refinery over the former’s decision, last week, to license six companies to import petrol, the Depot and Petroleum Products Marketers Association of Nigeria (DAPPMAN) has accused the Dangote…
Lagos clamps down on 15 money lending firms over infractions
Lagos Government says it has sanctioned at least 15 money lending companies for breaching operational regulations and engaging in activities considered harmful to their customers. This is also as the government disclosed that it renewed the existing operational licences of…
Dangote drags FG to court over fresh petrol import licenses
Barely days after the Nigerian Midstream and Downstream Petroleum Regulatory Authority (NMDPRA) resumed the issuance of petrol import licences to petroleum marketers, the Dangote Refinery has dragged the federal government to court over what it termed ‘policy inconsistency.’ It would be…
Naira devaluation responsible for Nigeria’s rising debt— FG
Nigeria’s debt sustainability concerns are driven more by elevated interest rates and exchange rate volatility than excessive new borrowing, according to a report by The Briefing – Macro & Markets. This is just as the Minister of Finance and Coordinating Minister…
TCN commissions two new 600MW plants to national grid
Transmission Company of Nigeria (TCN) has added 600MW of power to the national grid following the commissioning and evacuation of electricity generated by the Azura Power Plant and the Niger Delta Power Holding Company plants. Managing Director of TCN, Sule Abdulaziz,…
FG to commission digital switch over project, June 17
Federal Government, through the Minister of Information and National Orientation, Mohammed Idris, has announced that Nigeria’s long-awaited Digital Switch Over (DSO) project is now fully ready for nationwide launch, describing it as a major milestone in President Bola Ahmed Tinubu’s…
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 of…
