Naira trades flat at 363/dollar

The naira is expected to remain stable across its multiple exchange rates as the currency hit a resistance level for investors and the Central Bank of Nigeria continues to intervene on the official market. According to Reuters, the local unit has hit resistance at 360/dollar for investors as banks are not willing to bid the United […]

FEC approves draft 2018 Appropriation Bill

President Muhammadu Buhari   The Federal Executive Council on Thursday approved the draft 2018 Appropriation Bill, paving the way for President Muhammadu Buhari to present the document to the National Assembly. The approval was given at a meeting of the council presided over by Buhari at the Presidential Villa, Abuja. The Minister of Budget and […]

10 power plants lose 1,693MW to line problems

  Fashola   While gas shortage was largely responsible for the poor electricity experienced in the country last year, power generation is now being hampered by frequency management occasioned by distribution companies’ load demand. Line constraints, according to the latest data from the Federal Ministry of Power, Works and Housing, left 1,693.9 megawatts of the […]