Business
Govt. borrowing from banks increase by 4% in 4Q
Government borrowing from commercial banks in the country has been on the rise in recent times with an over 3.8 percent increase in lending in the 4th quarter of 2015.
Records from the Central Bank of Nigeria reveal that a total credit of N2.89trillion was received by the federal government from [...]
World Bank recants, forecasts improved oil price
Despite growing market sentiments and a weakening dollar, the World Bank has raised its 2016 forecast for crude oil prices to $41 per barrel from the $37 per barrel it had earlier projected.
The rebound comes after an initial dip of $25 per barrel in mid-January to $40 per barrel in April follow [...]
FG to get France’ €50million loan for power training in Nigeria
The Nigerian government will next month sign a €50million loan arrangement with the French government for the development and upgrading of power training facilities in the country.
Director-General, National Power Training Institute of Nigeria, NAPTIN, Mr. Reuben Okeke, who dropped the hint [...]
ECOWAS tasks ERERA on partnership to boost electricity supply
The newly elected chairman of the ECOWAS Regional Electricity Regulatory Authority, ERERA, Prof. Honoré Bogler, has been urged to partner other ECOWAS institutions to improve the energy need of the sub-region.
Speaking at the inauguration of the new chairman at the ERERA, the ECOWAS Commi [...]
Bank depositors’ fund hits N17trn in 2015
Depositors funds with all commercial banks in the country has hit N17.3 trillion as at December 2015, the Nigeria Deposit Insurance Corporation, NDIC, has said.
Managing Director/CEO of the NDIC, Umaru Ibrahim, said about 67 million depositors tied to this sum have been provided with over 90 per [...]
NERC rates DISCOs low on metering
All eleven distribution companies in the country have been rated poorly for their inability to meter over 2.9million customers since the privatization of the power sector close to three years ago.
The Nigerian Electricity Regulatory Commission, NERC, at a meeting with the power firms to evaluate [...]
Federation allocation drops by N300bn in March
Allocation into governments’ purse for March has dropped significantly to N299.747 billion, due to the drop in revenue generated in the period.
The over N300billion drop from the N338.765 billion shared the previous month, government officials said, reflects a seasonally low collection per [...]
CPC to sanction telecoms for consumer right abuses
The Consumer Protection Council, CPC, has said Nigeria can no longer tolerate the flagrant disregard for consumers’ right laws by telecommunication operators, as the council will henceforth evoke appropriate laws to sanction offenders.
Deriding the torrent of complaints received from telec [...]
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