The Central Bank of Nigeria (CBN) has unveiled plans to release a framework for integration of non-interest window in all its intervention programmes, particularly the Anchor Borrowers’ Programme (ABP) and the Targeted Credit Facility (TCF) to support households and Micro, Small and Medium Enterprises (MSMEs) affected by the COVID-19 pandemic[Read More…]
News
Atiku Rises Concern Over FG Raising Debt
Nothing has shocked me in my entire life in public service as the revelation from Nigeria’s First Quarter 2020 financial reports in the Medium Term Expenditure Framework and Fiscal Strategy from the Federal Ministry of Finance, Budget, and National Planning, which shows, alarmingly, that whereas Nigeria spent a total sum[Read More…]
Nigeria exported N32bn worth of electricity in 2019 — NERC
The Republics of Togo, Niger and Benin received a total invoice of N32.04bn for the electricity supplied to them from Nigeria in 2019, data from the Nigerian Electricity Regulatory Commission have shown. Nigeria, through some of its power plants, sell electricity to the neighbouring countries, which are classified as international[Read More…]
DPR Shuts Down Errant Filling Stations for Not Complying with New Petroleum Pump Price
The Department of Petroleum Resources is enforcing the new price range of N121.5 to N123.5/litre for petrol at filling stations across the country and has shut down errant outlets selling above the stipulated rate. It was gathered that all zonal operations controllers of the DPR agreed to inspect and enforce[Read More…]
Nigeria: COVID-19 – Four Abuja Stores Charged Over Price Gauge
Nigerian authorities have started prosecuting stores and companies allegedly taking advantage of the coronavirus situation to stash critical hygienic products and charge exorbitant prices for them. In Abuja, the Nigerian capital where the number of COVID-19 infections has risen to nearly a thousand, four popular outlets purportedly complicit in ‘price[Read More…]
NERC Gives Discos 2021 Deadline to Meter Consumers
The Nigerian Electricity Regulatory Commission (NERC) has given electricity distribution companies (Discos) December 2021 deadline to close the metering gap in the power sector. According to the commission, 37 per cent or 3.9 million of registered energy consumers in the country have been supplied electricity meters by the Discos. The[Read More…]
Nigerians to pay N50 Stamp Duty on ATM Printouts, Some WhatsApp Messages – FIRS
Nigerians will now pay stamp duties on WhatsApp messages, SMS, and messages via any electronic platform acknowledging receipt of funds, according to Federal Inland Revenue Service (FIRS). Muhammad Nami, executive chairman of FIRS in on the tax agency’s website, said “Any electronic receipt for, or electronic transfer of, money deposited[Read More…]
DisCos Sue FG Over Interference in Corporate Activities
Nigeria’s eleven Distribution Companies (DisCos) have head to court to restrain the Nigerian Electricity Regulatory Company (NERC) from interfering in their corporate activities unless the boards of the DisCos are duly consulted. The Guardian learnt that the distribution companies, including Abuja, Benin, Eko, Enugu, Ibadan, Ikeja, Jos, Kaduna, Kano as[Read More…]
NAFDAC Reduces Cost of Registration for MSMEs by 80%
In order to mitigate the economic impact of COVID-19 on Micro, Small and Medium Enterprises (MSMEs) in Nigeria, the National Agency for Food and Drugs Administration and Control (NAFDAC) has reduced tariff for registration of products by small businesses for a three month period. Announcing this during a virtual launch[Read More…]
Agency impounds N3.4m worth of expired dairy product
Kano Road Traffic Agency, KAROTA has impounded over 40 bags of expired powdered milk worth N3.5 Million Naira. The KAROTA raided an uncompleted building at Zabi-Kafa, Bachirawa, Ungogo Local Government Area of Kano State after the agency was tipped off on the activities of some persons suspected to be owners[Read More…]
Consumer TV
FG Revenue Rises 76% to N12.5tn, Fueled by Tax and Oil Gains — Budget Office
The Federal Government’s earnings have increased by 76 percent, rising from N7.1 trillion in 2022 to N12.5 trillion in 2023, due to higher taxes and oil revenues. This information was revealed in the recently released 2025-2027 Medium Term Expenditure Framework and Fiscal Strategy Paper from the Ministry of Budget and[Read More…]