Nigeria’s electricity subsidy has surged by 269%, reaching ₦2.4 trillion in 2024, up from ₦650 billion in 2023. This dramatic increase comes despite efforts to reduce the subsidy, particularly through the implementation of the Band A tariff service category in April 2024, which was anticipated to cut the government’s subsidy […]
Day: November 29, 2024
The Nigerian National Petroleum Company Limited (NNPC) has debunked claims suggesting that the Port Harcourt Refinery has not resumed operations, clarifying that the facility is currently producing at 90% of its 60,000 barrels-per-day (bpd) capacity. This translates to approximately 1.4 million liters of Straight-Run Gasoline (Naphtha) for petrol blending, alongside […]
MoneyMaster, a leading payment service bank in Nigeria, has rolled out a 100MB free data incentive for Glo users, aimed at promoting financial inclusion among the unbanked and underbanked populations. Julius Arhebun, Head of Agency Banking at MoneyMaster, emphasized that this initiative aligns with the bank’s mission to extend financial […]