Discos make N1tn amid grid crisis, unmetered customers hit 5.8m

Discos make N1tn amid grid crisis, unmetered customers hit 5.8m

Despite the persistent epileptic power supply nationwide, revenue generation by electricity distribution companies in Nigeria surged to N1.1trn within the 12 months of 2023, a new report has revealed. The figure represents an increase of N234.4bn or 28.2 per cent from the N831bn generated by the power firms over a similar period in 2022. This latest data was disclosed in the electricity report released by the National Bureau of Statistics […]

April 2, 2024 29

NEWS

Food crisis: OPS warns of shutdown as hoodlums loot more trucks

The organised private sector has expressed concern about the spate of looting of trucks conveying food and raw materials by suspected hoodlums, warning that it can lead to a shutdown of industries across the country. Members of the OPS, gave the warning on Monday in separate interviews with The PUNCH just as miscreants attacked trucks conveying building materials and spaghetti in Ogun and Kaduna states. Also on Monday, the Federal […]

March 5, 2024 9

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BUSINESS

Nigeria facing worsening economic crisis, says IMF

The International Monetary Fund has said stalled per-capita growth, poverty and high food insecurity have exacerbated the ongoing cost-of-living crisis in Nigeria. The report came amid rising inflation, exchange crisis, weak economic growth and business shutdowns. The global lender said this in a new report titled ‘IMF Executive Board Concludes Post Financing Assessment with Nigeria.’ According to the report, low revenue collection has hampered the provision of services and public […]

February 12, 2024 34 1

NEWS

Rivers crisis: My decision to embrace peace not out of fear – Fubara

Rivers State Governor, Siminalayi Fubara, has said that the decisions taken by his administration in the political crisis in the state were not borne out of fear, but for peace to reign in the state. Also, he explained that the resignation of the factional Speaker of the state House of Assembly, Edison Ehie, from his position and the legislature was in the interest of peace. Fubara disclosed this while addressing […]

January 2, 2024 66

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