Business
NERC to address tariff issues
The Nigerian Electricity Regulatory Commission, NERC, has assured electricity consumers that it will be tackling power tariff challenges head-on, so as to put an end the lingering debate on electricity tariff in the country.
The assurance was given by the new Chairman of the commission, Prof. J [...]
Airtel launches 4G LTE in Abuja
Telecommunications service provider, Airtel Nigeria, has launched its 4G LTE network in Abuja with an assurance that the latest technology would empower more Nigerians, stimulate economic activities across all sectors as well as provide unfettered access to affordable and reliable mobile broadba [...]
CBN denies claims of fire outbreak
The Central Bank of Nigeria has denied earlier reports of fire outbreak at its headquarters in Abuja. The bank maintained that the thick smoke witnessed earlier in the day was from a faulty generator.According to the Acting Director, Corporate Communicati [...]
NNPC N12bn deficit affects revenue allocation to states, others
Government revenue for the month of March 2018, dropped by N77billion due to a N12billion underpayment from the Nigerian National Petroleum Corporation, NNPC, and a 13 percent decrease in crude oil export sales.
According to the Federation Account Allocation Committee, FAAC, gross statutory rev [...]
NCC remits N49.7bn to Consolidated Revenue Fund in Q1
The Nigerian Communications Commission, NCC, said it has remitted over N49.7billion into the Consolidated Revenue Fund, CRF, account n the first quarter of the year 2018.
With this remittance, the commission has taken the lead in making early payments to the CRF as it generates revenue, as agai [...]
FG moves to end IPSAS migration issues
The Office of the Accountant General of the Federation said it is making moves to tackle some of the teething problems affecting the migration from the International Public Sector Accounting Standards, IPSAS, cash basis to IPSAS accrual basis.
Speaking at a retreat on ‘First [...]
EIB, AfDB, provides $70m for private sector investment in Nigeria
The European Investment Bank, EIB, and the African Development Bank, AfDB, have both finalised arrangement to provide a US $70million equity stake in the Development Bank of Nigeria to strengthen lending for business and agriculture investment in the country.
A statement from the international [...]
IMF warns of lower oil prices in 2019, calls for economic diversification
Oil producing nations have been alerted over a possible decline in crude oil prices, as the International Monetary Fund, IMF, projects that the average price of the product could drop from $62.31 a barrel in 2018 to $58.24 a barrel in 2019.
The IMF in its World Economic Outlook Report launched [...]
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