Cynthia Egboboh

1 week ago | businessday.ng | Cynthia Egboboh

The Federation Account Allocation Committee (FAAC), at its April 2025 meeting chaired by Wale Edun, the Minister of Finance and Coordinating Minister of the Economy, shared a total sum of N1.578 trillion to the three tiers of government as federation allocation for the month of March 2025 from a gross total of N2.411 Trillion.

1 week ago | businessday.ng | Cynthia Egboboh

…as Nigeria’s inflation rose to 24.23%Food inflation rate in Nigeria rose to 21.79 percent on a year-on-year basis in March 2025, this is as nation’s headline inflation rose to 24.23 percent, relative to the February 2025 headline inflationrate of 23.18 percent. According to the National Bureau of Statistics, the increase can be attributed to the rate of increase in the average prices of Ginger (fresh), Garri (Yellow), Broken Rice (Ofada), Honey.

1 week ago | businessday.ng | Cynthia Egboboh

The Association of Power Generation Companies (APGC) has warned of an imminent shutdown of operations in Nigeria, decrying the huge debt owed by the federal government as well as harsh monetary and fiscal conditions under which they operate.

1 week ago | businessday.ng | Cynthia Egboboh

…seeks further collaboration With EUAdebayo Adelabu, Nigeria’s minister of power has decried the impact of the continuous drop in international price of crude oil, stating that most laudable infrastructure transformation projects in Nigeria will be affected as the nation still rely mostly on oil revenues.

1 week ago | businessday.ng | Cynthia Egboboh

…says Siemens Project has improved electricity transmission capacity by over 700 megawattsAdebayo Adelabu, Minister of power has announced that the Nigerian government is securing about 2.3 billion to revamp the transmission segments of the nation’s power sector. Adelabu disclosed this in a statement issued to journalists on Sunday. According to him there has been a lot of improvement since the power sector since the inception of the President Tinubu-led administration.