Economy

FAAC Shares N821bn to FG, States, LGs in July 2018 The Federation Accounts and Allocation Committee (FAAC) at its meeting shared the total sum of...

OPS to discuss economic strategy for Nigeria at WorldStage Summit At a time when attention is majorly focused on politics, as Nigeria is getting ready...

Moghalu Condemns Buhari Administration over Illegal Subsidy Payment Lagos, Nigeria, November 07, 2018 - Professor Kingsley Moghalu, the presidential candidate of the Young Progressives Party...

Nigeria's Financial Statement in Compliance with IPSAS- AGF Accountant-General of the Federation, Mr. Ahmed Idris has revealed that the 2015 Financial Statements of the Federal...

FAAC Shares N741.8bn to Tiers of Govt for August 2018 A total of N741.843 billion has been distributed as Federal Allocation for the month of...

IPPIS: AGF Ahmed Idris Resolves Police Salary Challenges In his characteristic manner of bringing new strategies to deal with difficult challenges that tend to persist,...

Court Nullify Tenement Rates Collection in Abuja Property owners and occupiers in Abuja and its environs have at last heaved sigh of relief as a...

AEMA: China-Africa Economic Relations, more Resourceful - AFDB •Injects $160bn loan, aid to Africa in 3 years •As Elumelu, Dangote, Dora Akunyili, others nominated for Africa...

NIMASA to Enforce Sulphur Limit on Bunker Fuel- Dakuku The Director General of the Nigerian Maritime Administration and Safety Agency (NIMASA) Dr. Dakuku Peterside has...

KEDCO assures consumers of adequate power supply The Managing director and chief Executive Officer (MD/CEO) of Kano Electricity Distribution Company (KEDCO), Dr. Jamilu Isyaku Gwamna, has...

Bumper Federation Account Allocations: FG, States, LGcs Share N5.9tr in 2017 FG, N2.5tr, States N3.3tr Lagos Got N201bn, Akwa-Ibom N197bn, … Gombe and Ebonyi N57bn each A...

Aliko Dangote is 'Pride of the Black Race'- Ganduje Business Mogul and President/CE of Dangote Group, Aliko Dangote, has been described as the ‘Pride of...

FAAC Shares N635mn to FG, States, LGCs for January 2018 The total  sum of  N635.554 billion   has been shared at the meeting of the Federation...

CBN revokes Skye Bank’s licence, Polaris Bank takes over 1. You will recall that on 4th July 2016, we took a regulatory action on Skye...

FAAC Shares N532bn as Revenue to FG, States, LGCS for October 2017 The sum of N532.758 has been shared as Federation Account Allocation among the...

CSR: Dangote Group Earns Certificate of Appreciation …Donates N10 Million to Dala Hard Court Championship For his unalloyed support to sports development and Lawn Tennis in...

Police Invite Applicants for Recruitment of Constable The Nigeria Police Force invites applications from suitably qualified Nigerians for enlistment into the Nigeria Police Force as...

The annual salary of an Army General in the Nigerian Military is N20.69 million, or N1.72 million monthly, Economic Confidential diligent search has revealed.

Nigeria’s power sector is in transition from a vertically integrated government owned statutory monopoly to an industry in which private and publicly owned companies interact through contracts under the regulation of the Nigerian Electricity Regulatory Commission (NERC). Since 2013 the generation companies who produce the electricity we all consume and the distribution companies who deliver it to our homes, industries and businesses, are now been mainly privately owned companies. TCN, which transmits the electricity from the generation companies to the distribution companies for onward delivery and sale to customers, is currently owned by Federal Government of Nigeria (FGN). In this role TCN operates two important licenses issued by NERC. As the Transmission Services Provider (TSP), TCN owns and operates the 132KV and 330KV high tension transmission lines and the 330/132/33KV substations that make up Nigeria’s national grid. As the Independent Systems Operator (ISO), TCN monitors and controls the national grid and when and how the power stations, which are owned by different companies, can supply electricity for delivery to distribution companies in the safe and orderly way. TCN charges the distribution companies for these services.

Presidency Accepts Adeosun's Resignation, Appoints Zainab Finance Minister President Muhammadu Buhari Friday accepted the resignation of the Hon. Minister of Finance, Mrs Kemi Adeosun. The...