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NERC rejects force majeure notice by power firms

The Nigerian Electricity Regulatory Commission on Tuesday rejected the notice of declaration of force majeure that was recently issued to the Federal Government by the 10 electricity distribution companies in the country.

Reps query bid to spend $1.8bn on refineries

The House of Representatives on Tuesday queried the viability of further expenditure on the country’s four refineries and the daily allocation of 445,000 barrels of crude to the

NNPC completes 539km of gas pipelines

The Nigerian National Petroleum Corporation on Tuesday said it had so far completed 500 kilometres of gas pipelines between 2010 to date as part of measures to expand gas pipeline infrastructure across the country.

Nigeria, US, Japan seal investment, social development pacts

Nigeria and Japan on Tuesday signed a grant aid project on economic and social development worth N642m. The amount will be provided by the Japanese government.

9mobile to get new investor by year-end — Emefiele

The Governor, Central Bank of Nigeria, Mr. Godwin Emefiele, on Tuesday said that the intervention of the apex bank and the Nigerian Communications Commission in the 9mobile loan repayment saga, was due to the systemic importance of the company.

This Day

FMDQ OTC Exchange Records N115trn Transactions in 10 Months

Trading in the secondary segment of the fixed income and currency markets operated by the FMDQ OTC Securities Exchange remained upbeat, recording transactions worth N115 trillion from January to October 2017.

Lagos Pays N141bn to Bond Subscribers

The Lagos State Government tuesday disclosed that it had paid a total sum of N141.59 billion to bond holders in its various fixed rate bond programmes.

FCMB Group Completes 88.2% Acquisition of Legacy Pension Managers

FCMB Group Plc has successfully completed the acquisition of additional 60 percent equity stake in Legacy Pension Managers Limited (Legacy).


NERC extends Shell JV’s Afam VI power licence by 10 years

The Nigeria Electricity Regulatory Commission (NERC), has renewed the power generation licence for Afam VI Power Plant, a 650MW-capacity facility that has delivered over 24.16 million Megawatt-hour (MWh) of electricity into the national grid between inception in 2008 and 2016.

NSEs market capitalisation plunges by N61 billion

Price losses outweighed gains on the equity sector of the Nigerian Stock Exchange (NSE) yesterday, as most blue chip stocks depreciated in price, causing market capitalisation to plunge by N67billion.

The Nation

Fed Govt submits revised MTEF to Senate

The Federal Government yesterday submitted a revised version of the 2018 to 2020 Medium Term Expenditure Framework (MTEF) and Fiscal Strategy Paper (FSP) to the Senate for consideration and approval.

Reps to govt: stop sale of PHCN assets

The House of Representatives has urged the Federal government to stop further sale of some assets of the Power Holding Company of Nigeria (PHCN).

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