The Nigerian Electricity Regulatory Commission (NERC) has reported that the Federal Government subsidized the cost of electricity consumed by users in the country with a total of N135.23 billion in the second quarter of this year. The second quarter’s electricity subsidy represented a 275% quarter-on-quarter increase over the N36.02 billion paid by the government in […]
The newly appointed Executive Vice Chairman (EVC) of the Nigerian Communications Commission (NCC), Dr. Aminu Maida, said on Tuesday that he would align the Commission’s regulatory focus to achieve President Bola Tinubu’s agenda to advance the nation’s digital transformation drive. Maida, who made this pledge during his meeting with the Senior Management team of the […]
The West African Institute for Financial and Economic Management (WAIFEM), has called on the Federal Government to explore property tax source for improved revenue to meet its growing funding obligations on good governance. The Director-General of the Institute, Baba Yusuf Musa, who gave the charge at the sidelines of the just concluded World Bank/IMF Annual […]
…..As World Bank Expresses Support For Initiative The Federal Government has launched the conditional cash transfer programme targeted at 15 million households nationwide, which are to receive N75,000 each within three months. The Secretary to the Government of the Federation, Sen. George Akume, who represented President Bola Tinubu during the launching of the programme on […]
…..Targets $2Bn Carbon Investments The Niger Delta Development Commission (NDDC) on Tuesday unveiled plans to unlock $2 billion carbon investment in the Niger Delta region using solar power as part of the management’s wider strategy to ensure power supply to communities in the region. The commission’s Managing Director, Dr. Samuel Ogbuku, who was quoted in […]
The Alternative Bank, a new entrant to the non-interest banking industry, has announced its plans to empower its customers and foster financial growth through interest free credit. The bank also is offering a revolutionary Free Credit Line programme, which will enable its customers to access up to 10% of their monthly turnover at zero interest […]
The Nigerian Electricity Regulatory Commission (NERC) reported on Tuesday that electricity distribution companies (DisCos) recorded 95.21% market remittance in the second quarter of 2023, representing the highest remittance by them so far. The Commission, in its just published ‘Electricity on Demand; report, indicated that the combined upstream bill that DisCos were expected to pay totalled […]
The International Monetary Fund (IMF) has predicted that South Africa’s Gross Domestic Product (GDP) will briefly surpass Nigeria’s in 2024, thereby pushing Nigeria down from its current position as Africa’s largest economy. The Bretton Woods institution, in its World Economic Outlook, projected that South Africa’s GDP would reach $401 billion by 2024 at current prices […]
BudgIT, a civic-tech organization at the forefront of advocacy for fiscal transparency and accountability in Nigeria, has launched the 2023 edition of its annual States of States report with the theme ‘Subnational Healthcare Delivery for Improved Economic Development’. One of the key findings of the report showed that both the national and subnational governments continued […]
Heads of multilateral development banks (MDBs) at the just concluded IMF/World Bank Annual Meetings in Morocco pledged to strengthen their individual and collaborative actions to accelerate inclusive socioeconomic development. Specifically, to achieve a greater impact, the DMBs agreed to explore innovations to scale up financing capacity, boost climate action, strengthen co-financing and catalyse private sector […]