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The Nigerian Electricity Regulatory Commission, NERC, has said it will spend N5billion on Technology investments between now and 2025. Chairman of NERC, Sanusi Garba, disclosed this during a hearing on the Medium Term Expenditure Framework in Abuja. Garba revealed that N1.5billion had already being spent, adding that N2.5billion would be spent in 2023 and N1billion in 2025.
The equities market of the Nigerian Exchange Limited declined by N30bn at the end of trading on Monday. The All-Share Index closed at 49,991.41 basis points on Monday from 50,045.83 on Friday, while the market capitalization fell to N26.964tn from N26.994tn. A total of 200.92 million shares valued at N1.45bn were traded by investors in 3,976 deals at the end of trading on the floor of the NGX.
Reports say telecommunication subscribers left 98.75million registered SIMs unused in the month of July. According to the Nigerian Communications Commission, the total number of SIMs in circulation remained over 300 million for the third consecutive month in 2021. Also, the total number of active lines sustained its ascendency to 208.61 million in July, with 2.52 million new subscribers joining the national active network in July.
The total billing to electricity Consumers by the 11 Distribution Companies stands at N816billion. According to the Nigerian Electricity Regulatory Commission, NERC, this shows that out of this amount, only N370billion has been collected by the Discos, leaving a total outstanding of N543billion. The figures showed that 74.33 per cent and 66.50 per cent billing and collection efficiencies were recorded, indicating 8.44 and 1.34 percentage points decline when compared with […]
Nigeria’s power generation peaked at 5,043.4MW on Thursday, a significant improvement from the peak of 4,664.1MW. According to the Transmission Company of Nigeria, TCN, the lowest generation was 3,298.48MW, in contrast to 3,450.7MW recorded in the previous day. Meanwhile, total energy generated on Thursday stood at 102,875.3MWh, representing a 1.1% decline when compared to the 104,018.08MWh generated in the previous day.
As inflation hits food items in Nigeria, the price of stock fish has recorded an increase in Amakohia market, in Imo state. In an interview with Boss Radio Business News, a wholesaler, Glory Onachukwu, speaks on the increase. Also speaking, a stock fish seller, Donatus Onyebuchi, highlights the challenges of the business.
As the price of goods rise, the price of wood has recorded a significant increase in major markets. Speaking with Boss Radio Business Team, a wood seller, Ifeanyi Ugbo, highlights the prices of wood. Another seller, Igwe Ofurum gives reason for the increase in price.
The Group Chief Executive Officer of the Nigerian National Petroleum Company Limited, Mele Kyari, has said that the Country will stop importing Petroleum Products by 2023. Kyari disclosed this during a press briefing at the State House in Abuja He said the Dangote refinery which would begin next year would augment the output from State-owned Refineries to meet Nigerians’ demand for Petroleum Products.
As inflation hits food items in Nigeria, the price of frozen fish has recorded an increase in the popular Ekeonuwa market Owerri. In an interview with Boss Radio Business Team, a wholesaler, Margret Alumonu, who spoke in vernacular, outlines the difference in price. Also speaking, Nkechinyere Ogwu, says demand is high. Adaobi Njoku, blames the increase on hike in fuel price.
