*Crude oil price rose 6.2%, Nigerian oil firms increase price by 14.3%  By Obas Esiedesa, Abuja Nigerians are now battling with disproportionate increases in petrol prices at the petrol stations as marketers push retail prices far above rate of increase in crude oil prices. On Tuesday all petrol stations jerked their pump prices from average N750 […]

•14 GenCos sign deal By Obas Esiedesa, Abuja The Federal Government has raised N501.02 billion from the bond market to begin settling outstanding debts owed to power generation companies (GenCos), as part of efforts to reduce over N6 trillion liabilities in the electricity sector. The funds were mobilised through the issuance of two bond tranches: a […]

By Udeme Akpan &  Obas Esiedesa, Abuja   Nigeria’s national power grid suffered another disruption yesterday, the second in four days, triggering widespread outages that disrupted businesses and renewed concerns over the economic cost of power instability, even as the Nigerian Independent System Operator (NISO) described the incident as a partial system disturbance. The disruption occurred at about […]

By Babajide Komolafe The Nigeria Deposit Insurance Corporation (NDIC) and the Economic and Financial Crimes Commission (EFCC) have agreed to strengthen collaboration to enhance the investigation and prosecution of offences that lead to bank failures, while also improving the recovery of assets and debts of failed banks. This formed the focus of a courtesy visit by […]

By Emma Ujah, Abuja Bureau Chief & Gabriel Ewepu The Nigeria Customs Service (NCS) has declared a total revenue of N7.28 trillion for the fiscal year 2025, the Comptroller-General of Customs, Bashir Adeniyi, disclosed yesterday in Abuja. Speaking at the International Customs Day celebration and the official launch of the Time Release Study (TRS), Adeniyi said […]