June 2024

FG, States, LGs share N1.143trn May revenue

…As FAAC meets in Abuja By Seun Ibiyemi The Federation Accounts Allocation Committee (FAAC) has shared a total of N1.143 trillion to the federal government, states, and local government councils as revenue for May. This was announced at the end…

Naira in circulation hits N3.97trn in May

The currency’s value in circulation has risen to N3.97 trillion at the end of May, representing an all-time high and a 1.07 percent increase over the previous month. The data released on the Central Bank of Nigeria website  indicated that…

Failure of estimated billing and the need for metering

The country’s ailing power infrastructure and ecosystem are on the brink of collapse, threatening viable industrialisation and sustainable economic growth. The electricity generation companies are drowning in a sea of debt, owed a staggering N3.17 trillion, with a funding gap…