GENCOs, DISCOs at war over mounting debts

The power generation companies (GENCOs) may have drawn the battle line with the electricity distribution companies (DISCOs) over the growing indebtedness estimated at over N400billion, a development experts believe may…

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Nationwide outage worsens as fire razes TCN control room

The Transmission Company of Nigeria said on Saturday that a fire incident which occurred at its Afam VI power station in Rivers State had completely destroyed the firm’s protection and…

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FAAC: Monthly Allocation Increases By 13 Billion Naira

The federal allocation committee says monthly allocation to the three tiers of government has increased by 13 billion naira from the month of December, 2016. Speaking with journalists after the…

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Nigeria ratifies WTO’s Trade Facilitation Agreement

Nigeria on Friday in Davos, Switzerland, ratified the Trade Facilitation Agreement (TFA) of the World Trade Organisation (WTO), making it the 107th WTO member to do so. The country’s instrument…

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Nigeria’s distributable revenue rose by 3.4 percent in December

Nigeria’s distributable revenues to the government rose in December by 3.4 percent to 400 billion Naira ($1.31 billion) as the country collected more royalties from oil, the Minister of finance…

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Adeosun: FG, states N13.1b richer in December

The Minister of Finance, Mrs Kemi Adeosun said the Federation Account Allocation Committee (FAAC)  shared N400 billion which is N13.1 billion more than what the three tiers of government shared…

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Economic Recession: MTN May Put Off Nigeria Listing Until 2018

MTN Group Ltd. may put off plans to list its Nigerian operation until 2018 as Africa’s largest wireless carrier works to resolve a regulatory dispute and awaits an economic recovery…

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2016 IGR : Lagos tops list as Nasarawa slumps the bottom

Lagos State tops the list of States with Internally Generated Revenue, according to the half-year IGR data for 2016 while Nasarawa State slumps to the bottom. The National Bureau of Statistics…

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#1stQtrY2017THM: Ambode Sets to Complete 181 Roads in 2017

Lagos State Governor Akinwunmi Ambode set to construct and deliver 181 roads to the 57 Local Government Areas and Local Council Development Areas (LCDAs) in the State. This he made known at…

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Nigeria raises local currency bonds at yields below inflation

Nigeria raised 214.95 billion naira ($704.18 mln) in local currency bonds at its first auction this year with the debt sold at yields below galloping inflation, the Debt Management Office…

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