Business & Economy
Nigeria’s Crude Oil Revenue Surges to N50.88tn in 2024
Nigeria’s crude oil revenue soared to N50.88 trillion in 2024, far exceeding the nation’s initial projections, according to data from the Nigerian Upstream ...
Business & Economy
Nigeria’s Power Sector Faces Uncertainty as DisCos Struggle with Debt and Bank Takeovers
The financial instability of Nigeria’s Electricity Distribution Companies (DisCos), compounded by mounting debts and bank takeovers, continues to undermine the power sector’s performance, ...
Business & Economy
CBN Fines Nine Banks N1.35 Billion for Failing to Load ATMs
The Central Bank of Nigeria (CBN) has imposed a total fine of N1.35 billion on nine Deposit Money Banks (DMBs) for failing to ...
Business & Economy
Telecom Sector Debt Hits N1.69tn Amid Tariff Hike Push and Economic Challenges
As of September 2024, Nigeria’s telecommunications and ICT firms are grappling with a staggering N1.69 trillion debt owed to Deposit Money Banks. This ...
Business & Economy
NCC to Reveal Names of 18 Banks Owing N200bn in USSD Debt, Service Suspension Looms
The Nigerian Communications Commission (NCC) is set to publicly disclose the names of 18 banks that collectively owe a staggering N200 billion for ...
Business & Economy
National Grid Collapses: No End in Sight, Says Power Minister Adelabu
The Federal Government has acknowledged ongoing challenges with the national electricity grid, revealing there is no immediate end to its frequent collapses. Speaking ...
Business & Economy
Rising Crude Prices Threaten Fuel Costs in Nigeria as Brent Hits $80
Fuel prices in Nigeria are expected to rise in the coming days as global crude oil prices soar, with Brent crude reaching $79.76 ...
Business & Economy
Nigeria’s Energy Crisis: Over 250 Companies Ditch National Grid, Generate Their Own Power Amid Blackouts
As Nigeria grapples with persistent blackouts, a growing number of manufacturers and academic institutions—over 250 in total—have opted to abandon the national grid ...
Business & Economy
FG Approves Four Airlines for 2025 Hajj Pilgrimage
The Federal Government has approved four airlines to transport Nigerian pilgrims to Saudi Arabia for the 2025 Hajj pilgrimage. This was disclosed by ...
Business & Economy
NDDC to Resume Borokiri-Okrika Road and Bridges Project After 12-Year Hiatus
The Niger Delta Development Commission (NDDC) has announced plans to recommence work on the 3.65-kilometre Borokiri-Okrika Road and its three bridges, a project ...