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For the households that run on generators and the small businesses that count the cost of every blackout, a debt settlement now under way in the power sector could eventually mean more reliable electricity. The Nigerian Bulk Electricity Trading Plc (NBET) has begun paying power generation companies (GenCos) and theirContinue Reading
The Federal Government has set a target to cut Nigeria’s public debt from 36.07 per cent of Gross Domestic Product (GDP) in 2025 to 18.83 per cent by 2030, while raising government revenue from 11.15 per cent to 18.70 per cent of GDP within the same period. The ambitious fiscalContinue Reading
The federal government has intensified efforts to enforce accountability, improve efficiency and ensure measurable performance across Ministries, Departments and Agencies (MDAs), warning that non-performance will no longer be tolerated. The renewed push for institutional accountability was highlighted at the MDA High-Level Strategic Engagement and Press Briefing, in Abuja, yesterday. TheContinue Reading
Nigeria is targeting sugar self-sufficiency through a $7.1 billion investment programme over 10 years, with projected annual foreign exchange savings of $4.1 billion and about 110,000 direct and indirect jobs. The plan aims to raise domestic production from about 27,000 metric tonnes to more than two million tonnes annually. TheContinue Reading
Aviation experts have raised fresh concerns over the declining global competitiveness of Nigerian airlines, blaming the dominance of individual ownership structures, weak access to institutional capital and rising operating costs for the inability of local carriers to compete effectively on the international stage. They said that while Nigeria had recordedContinue Reading
Despite punishing interest rates, Nigerian consumers say digital loan apps remain a lifeline, giving households and small businesses fast cash when incomes cannot cover urgent expenses, even as analysts warn that the borrowing is deepening debt. Borrowers who spoke with LEADERSHIP Weekend, said they turn to the platforms out ofContinue Reading
The minister of aviation and aerospace development, Festus Keyamo, has appealed to passengers and other airport users to remain understanding over the planned temporary closure of the Sam Mbakwe International Cargo Airport, Owerri, for about 25 days to allow for runway rehabilitation and extension. Keyamo, in a statement on Friday,Continue Reading
The Nigerian stock market rebounded on Friday with a gain of N208 billion, as renewed buying interest supported investor sentiment across the bourse. The All-Share Index (ASI) rose by 321.05 points, representing a gain of 0.13 per cent to close at 248,363.55 points. Also, market capitalisation gained N208 billion toContinue Reading
The minister of Power, Joseph Tegbe, has called on the nation’s security chiefs to join forces with the power sector to stop attacks on electricity infrastructure, by convening a ministerial committee on the prevention of vandalism for that purpose. The committee brings together security and power sector stakeholders andContinue Reading
The federal government has shelved plans to ban solar panel imports immediately, saying Nigeria cannot restrict imports before it has the capacity to manufacture the panels itself. The minister of Innovation, Science and Technology, Kingsley Udeh, disclosed this on Friday in an interview with the Nigerian Television Authority (NTA). HeContinue Reading
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