Industry

File - Electricity transmission tower used to illustrate the report Interventionist payments in the power sector by the Federal Government as electricity subsidies increased to N199.64 billion in December 2024, according to data sourced…
Read More...

Minister of State Petroleum, Heineken Lokpobiri The Minister of State Petroleum (oil), Heineken Lokpobiri has said that the 2.06 million barrels per day oil projection in the 2025 budget is realisable. The minister made the statement…
Read More...

The Federal Government has approved the purchase of Shell Plc’s onshore assets in Nigeria to a group of local companies for $1.3 billion. Nigeria, Africa’s largest crude oil producer, had initially rejected the deal in October…
Read More...

Fuel pump In a sign of stability in the downstream sector, the Major Energy Marketers Association of Nigeria, MEMAN, has said that the landing cost of Premium Motor Spirit, PMS, also known as petrol declined marginally to N970 in…
Read More...

Nigeria’s fiscal deficit reached N7.05 trillion by the end of the third quarter of 2024, according to figures disclosed by President Bola Ahmed Tinubu during his presentation of the 2025 Budget of Restoration to the…
Read More...

Edun Expresses Worry Over Africa’s $74bn Debt Servicing Burden The Minister of Finance and Co-ordinating Minister of the Economy, Mr Wale Edun, has called for necessary steps to manage ballooning debt and its servicing on the…
Read More...

•FEC approves 2025 budget proposal •Presentation to NASS shifted to Wednesday Minister of Finance and Coordinating Minister for the Economy, Mr. Wale Edun, on Monday said the N13 trillion deficit in the N48 trillion 2025 budget…
Read More...

Oando Oando PLC reported a post-tax profit of N13.6 billion for the third quarter of 2024, ending September 30, a significant improvement from the N2.2 billion loss recorded in the same period last year. This represents a 510.48%…
Read More...

•Provides for five years imprisonment, N10m fine for erring CEO/MD The National Assembly has granted unfettered regulatory powers to Securities and Exchange Commission (SEC) to register and regulate online forex trading activities,…
Read More...

The Federal Executive Council, FEC, meeting presided over by President Bola Tinubu on Monday approved the sum of 161,328,228 euros for the execution of contracts in the first batch of the Phase 1 of the Siemens Power projects across…
Read More...