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In a bid to address the recurrent collapse of Nigeria’s power grid, the Federal Government has deployed a new technology to detect and respond to sudden drops or dips in power generation across the country. It announced this through the Transmission Company of Nigeria on Wednesday, stating that the new Generation Dip/Loss Detection System would advance TCN’s grid management capabilities.
Nigeria’s foreign exchange reserves have taken a significant hit, dropping by approximately $1.02bn within 18 days as the Central Bank of Nigeria steps up efforts aimed at defending the naira. On March 18, 2024, the FX reserves stood at $34.45bn, but by April 3, it had dropped to $33.50bn, based on the latest data from the CBN. Before the current decline, the reserve had been steadily growing, witnessing a remarkable […]
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