Power generation drops 32.31% to 2,775MW: Amidst on-going dust raised by the new electricity tariff at the backdrop of inadequate power supply, electricity generation nosedived to 2,775 megawatts, MW, yesterday, a 32.3 percent decline from 4,099.87MW recorded last week.
Niger Signs 556km of 252 Roads Contracts with 37 Contractors: The Niger State Government has signed 556km of road contracts with 37 construction companies. The contracts, according to a statement signed by the Chief Press Secretary to Governor, Bologi Ibrahim, which will spread across the 25 local government areas of the state, were sealed at the Government House in Minna.
FG: Pilot Phase of Siemens Almost Completed with Installation of 5 Transformers, 3 Mobile Substations: The federal government has said that the pilot phase of the Presidential Power Initiative (PPI), also known as the Siemens power project, has almost been completed, with the installation and commissioning of five out of 10 power transformers completed.
DisCos struggle to satisfy Band A customers over gas shortage: Due to a gas shortage that has hindered generation since January, many electricity distribution companies have been finding it difficult to provide Band A customers with 20 hours of electricity.
Testing begins on 700MW Zungeru hydroelectric power plant – FG: The Federal Government, on Sunday, announced that testing has commenced on the 700 megawatts Zungeru Hydroelectric Power Plant ahead of the evaluation of electricity from the facility to the national grid.
GCR withdraws the ratings on FSDH Asset Management Limited: GCR Ratings (GCR) has withdrawn the ratings on FSDH Asset Management Limited’s (FSDH AM or the manager) national scale long and short-term issuer ratings of BBB(NG) and A3(NG) without review. The withdrawal was due to business reasons. Accordingly, GCR no longer supports the above-mentioned credit rating on the entity and…
Breaking: Nigeria’s inflation rate jumps to 33.2% in March 2024 – NBS: Nigeria’s inflation rate increased to 33.2% for the month of March 2024 according to the latest data from the National Bureau of Statistics (NBS).
FG plans emergency economic bill to boost non-oil revenue in Nigeria: The Federal Government plans to introduce an emergency economic bill to boosts its revenue from the non-oil sector in Nigeria.
World Bank projects 15.1% Nigerian inflation rate in 2026: The World Bank has estimated that Nigeria’s inflation rate will drop to around 24.8% this year and further to 15.1% by 2026. It noted that the projected decline was premeditated on monetary policy tightening and exchange rate stabilisation in Nigeria.
FG spends N4.83 trillion from bonds, treasury bills to settle borrowing from CBN: The Federal Government has allocated approximately N4.83 trillion from the proceeds of Nigerian Treasury Bills (NTBs) and Bonds issued in 2024 to settle the Ways and Means Advances from the Central Bank of Nigeria (CBN).
