Gencos counters NBET over purchase agreements, list N1.64tn debts
Power generation companies on Sunday said the Nigerian market was under threat based on the recent claims by the Nigerian Bulk Electricity Trading Company Plc that only five Gencos had…
Reps write Kyari, summon 17 NNPC subsidiaries over audit queries
THE House of Representatives’ Committee on Public Accounts has written to the Group Managing Director of the defunct Nigerian National Petroleum Corporation, now Nigerian National Petroleum Company Limited, Mr Mele…
FG incurs N950bn new domestic borrowing in Q1 2022 – DMO
THE Federal Government has incurred N950bn new domestic borrowing between January 2022 and March 11, 2022, the Debt Management Office has revealed. The fresh borrowing was disclosed on March 17…
Queues persist in northern states despite 1.8bn litres fuel supply
The queues by motorists for Premium Motor Spirit, popularly called petrol, particularly in Abuja and northern states have refused to clear despite the supply of about 1.824 billion litres of…
Extortion: FAAN bans two immigration officers from airports
The Federal Airports Authority of Nigeria has expelled two officers of the Nigerian Immigration Service from working in any airport in Nigeria due to their involvement in the extortion of…
Take advantage of import duty waivers, FG tells manufacturers
The Minister of Industry, Trade and Investment, Mr. Adeniyi Adebayo, has urged manufacturers to take advantage of import duty waivers through the Import Duty Exemption Certification. Adebayo, who was represented…
Bulk cargo traffic to Lagos ports drop by 60%, say operators
Some members of the Barge Operators Association of Nigeria have said bulk cargo traffic to Lagos ports has dropped by 60 per cent as a result of extortion and traffic…
Fear of corruption hampering subsidy removal in Nigeria -IMF
The International Monetary Fund says the fear of political resistance, widespread corruption and pressure from interested groups is hampering the removal of the fuel subsidy in Nigeria. The IMF said…
Nigeria’s debt set to peak at N45tn in 2022, says DMO report
The total debt stock of Nigeria is likely to reach N45tn as the Debt Management Office plans to borrow an additional N6.39tn to finance the 2022 budget deficit. This was…
Fuel scarcity: FG implements 25% freight rate increase for NARTO
The Federal Government has approved and commenced the implementation of the 25 per cent freight rate increase to members of the Nigerian Association of Road Transport Owners in a bid…
AfDB secures $15.6bn for Lagos-Abidjan highway corridor
The President of the African Development Bank, Dr Akinwumi Adesina, announces that the bank has secured $15.6bn for the construction of the Lagos-Abidjan highway corridor, which would ease transportation across…
Nigeria borrowed N6.64tn, serviced debt with N2.93tn in 2021 -DMO
THE Debt Management Office on Thursday said Nigeria’s total public debt stock increased to N39.56tn in 2021 from N32.92tn in 2020. The Director-General, DMO, Patience Oniha, said this at a…
