Federation account allocation drops for third consecutive month to N1.57tn
The Federation Account Allocation Committee has reported a continued decline in monthly disbursements, with ₦1.578 trillion shared among the Federal Government, states,…
featured
FG races to address GenCos’ N4tn debt
The Minister of Power has pledged to tackle the N4 trillion electricity debt owed to Generation Companies, following threats of a shutdown…
GenCos warn of imminent power crisis as debts exceed N4tn
The 23 power generation companies in Nigeria have raised the alarm that they can no longer ensure a stable electricity supply due…
NMDPRA slashes electricity GenCos gas price amid mounting ₦2trn debt
The Nigerian Midstream and Downstream Petroleum Regulatory Authority has reduced the price of natural gas for power generation companies in a bid…
UN faces financial crisis, cuts workforce in Nigeria, eight other nations
The United Nations Office for the Coordination of Humanitarian Affairs is set to cut its workforce by 20% following a $58 million…
Fitch upgrades Nigeria’s rating to ‘B’ amid reform push
Fitch Ratings has upgraded Nigeria’s Long-Term Foreign-Currency Issuer Default Rating from ‘B-’ to ‘B’ and assigned a stable outlook to the country.…
JP Morgan warns investors, raises concerns over Nigeria’s economic stability
J.P. Morgan has advised investors to exit long positions in Nigerian Open Market Operation bills, citing concerns over Nigeria’s economic stability. In…
Siemens executive, family among six killed in US helicopter crash
A Siemens executive, Agustín Escobar, his wife Merce Camprubí Montal, and their three young children, aged 4, 5, and 11, were among…
OpenAI countersues Elon Musk for harassment, sabotage
OpenAI filed a countersuit against Elon Musk on Wednesday, accusing the billionaire entrepreneur of a sustained campaign of harassment and interference aimed…
Apple soars to best day since 1998 after Trump’s tariff pause
Apple shares soared 15% on Wednesday after President Donald Trump announced a 90-day pause on planned “reciprocal tariffs” that would have impacted…
Naira-for-crude policy still in effect, FG tells Dangote, others
The Federal Government has emphasized that its naira-for-crude initiative with local refineries is not a temporary solution but a strategic policy aimed…
Instagram boosts search functionality to rival TikTok
Instagram is ramping up efforts to enhance its search features, according to Head of Instagram Adam Mosseri. Speaking on a recent episode…