NEWS

The Central Bank of Nigeria has fixed the maximum loan amount that a participant in its newly introduced initiative, called ‘The 100 for 100 PPP – Policy on Production and Productivity’, can get at N5bn. The CBN disclosed this in its guidelines for the implementation of the initiative which was released on Saturday. It said quarterly, starting from November 1, 2021, the initiative shall select 100 private sector companies with […]

The World Bank has decried the continued spending by the Nigerian government on petrol subsidy, which it said is on track to gobble up N2.9tn this year. Its Country Director for Nigeria, Shubham Chaudhuri, who spoke on Monday at a panel session during the 27th National Economic Summit, said the country could channel the money being spent on subsidies to primary healthcare, basic education and rural roads. Also speaking at […]

The Nigerian Bulk Electricity Trading Plc on Thursday provided statistics on misalignments in the power value chain, saying that about 14,000 megawatts of electricity was contracted to power generation companies. Managing Director, NBET, Nnaemeka Ewelukwa, gave a breakdown of the quantum of Nigeria’s electricity demand, what was contracted, available capacity, what was produced, among others. He provided these statistics while speaking during a plenary session at the World Energy Day […]

Telecommunication service subscribers in 47 local government areas in Zamfara, Katsina, Sokoto and Kaduna states have been affected by the ban on telecom services in the areas by the Federal Government, findings have revealed. This is as bank customers and Point of Sale operators in the affected areas groan over lack of access to banking services as the ban continues in the four states. The Federal Government had imposed a […]