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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…
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 N7.70…
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 subsidiary…
BOI’s 7% interest guaranteed loan scheme for West African women will boost SMEs
Bank of Industry (BOI) has said that its Guaranteed Loan (GLO), which charges an annual interest rate of 7% for businesses owned by women in West Africa, will boost Small and Medium Enterprises (SMEs) in the region. Managing Director…
AIICO Insurance reports 26.5% revenue growth, as GPW rises to N191bn
AIICO Insurance Plc had reported a 26.5 per cent increase in revenue, representing N137 billion for the year ended December 31, 2025, driven by stronger underwriting performance, improved investment income, and broad-based growth across its insurance and asset management…
Fidelity Bank’s gross earnings hit N1.5trn
Fidelity Bank Plc has reported a 45 per cent increase in gross earnings for the 2025 financial year, just the bank’s shareholders’ funds crossed the N1 trillion mark following sustained balance sheet expansion and fresh capital injection. Analysis from the…
