Finance & Markets articles


Review of Power Sector, Money and FX Markets

Review of Power Sector, Money and FX Markets

The purchasing managers’ index increased marginally in the month of August to 58.5 from 56.3 in July according to FBN Quest. This was due to increased fx intervention by the CBN, improved access to fx and improved utilization of local substitutes (particularly in the foods and beverage segment). This impacted positively on the manufacturing sector.

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World Bank Assists TCN with Kainji Hydro Rehabilitation

The Project Manager, Project Management Unit (PMU) of Transmission Company of Nigeria (TCN), Engr. Abubakar Gwadabe, has said the unit is helping to improve electricity supply through many projects including the rehabilitation of Kainji hydropower and others with support from the World Bank, Daily Trust reports. He spoke at the TCN-PMU preliminary stakeholders consultation for


Wrong Tariff Created N1trn Electricity Market Deficit – ANED

The Association of Nigerian Electricity Distributors (ANED) has said wrong tariff setting since power sector privatisation in 2013 is responsible for the over N1 trillion operational deficit in the electricity market. The Director of Research and Advocacy, Mr Sunday Oduntan during a briefing in Abuja on Wednesday, said the 11 electricity Distribution Companies (DisCos) constituting


NELMCO’s Inherited Liabilities Hit N527.261 Billion

Total inherited liabilities by the Nigeria Electricity Liability Management Company (NELMCO) from the privatisation of the Nigeria electricity industry stood at N527.261 billion as February 2017. The liabilities cover about 23,154 invoices with about 9,694 verified and settled, leaving outstanding liabilities of 13,460 invoices for verification. NELMCO, which made the disclosure in its liability management report


Power: N1.3bn Daily Earning Deferred over System Constraints

Nigeria’s electricity industry has continued to operate below its expected capacity despite reforms by the federal government, operational records from the National Control Centre (NCC) have disclosed. According to a seven-day NCC operational report on the sector’s performance which THISDAY obtained in Abuja, the industry deferred an average of N1.3 billion that it could have

World Bank

Electricity: FG Seeks $5bn Loan From World Bank

The Federal Government is seeking a loan of $5bn from the World Bank Group to boost power availability in Nigeria, investigation has shown. The World Bank had in April stated that a powerful delegation from Nigeria was in Washington DC to discuss assistance for the nation’s power sector, but did not disclose the details of

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