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EU To Invest €37m In Nigeria's Power Sector The European Union (EU) is set to invest €37 million in the power sector in Nigeria, in addition to the about €200 million grants it has invested in the sector since 2008. Thi

How Foreign Loans Make Up 59% Of $4bn Capital Importation No less than 59.1 per cent of capital importation into the country in 2023, amounting to $2.31bn, was foreign loans, according to the latest capital importation report re

Senate to FIRS: Suspend N17trn Tax Waivers The Senate through its Committee on Finance on Monday frowned at the N17tn loss incurred by the country on tax waivers within the last five years. It consequently urged the Fed

N47bn Debt: CBN, Aso Villa, DHQ Face Disconnection No fewer than 86 ministries, agencies and departments of government are owing the Abuja Electricity Distribution Company to the tune of N47bn. According to a public not

Equity Market Gains N329bn As Rally Extends The Nigerian exchange has gained N329bn as it has managed to maintain its positive trading trend for the second consecutive day. The All-Share Index and the market capitalisat

CBN Reveals Currency Outside Banks Hit Historic High of N3.4trn A report by the Central Bank of Nigeria (CBN) has revealed that currency outside banks at at December 2023 reached a staggering N3.43 trillion, representing a whopp

IMF Foresees Weaker Economic Growth For Nigeria The International Monetary Fund (IMF) has downgraded Nigeria's economic growth projections for 2024 to 3.0 per cent from 3.1 per cent in its October forecast. It disclosed

NRC Generates N287m From Cargo Haulage In Three Months - NBS The Nigerian Railway Corporation (NRC) earned N286.78m from cargo transported by rail in the third quarter of 2023, according to the National Bureau of Statistics. </p

Volatile Exchange Rate May Affect Debt Servicing - Report A new report from PricewatershouseCoopers (PwC) has revealed that Nigeria may face challenges with its debt servicing in 2024 over volatility in the forex market. <p