Nigeria’s 11 electricity distribution companies (DisCos) collected a total of N1.1 trillion as revenue between January and June 2025, according to data from the Nigerian Electricity Regulatory Commission (NERC).
The report shows that out of the N1.49 trillion worth of electricity billed to customers,...
The House of Representatives has summoned 11 electricity distribution companies (Discos) over an outstanding N2.6 trillion owed to the federation account.
The resolution followed a Public Accounts Committee hearing chaired by Rep. Bamidele Salam, after reviewing the 2021 Auditor-General’s report.
Documents...
The Transmission Company of Nigeria (TCN) says a ₦457bn debt and Right of Way issues are stalling power projects.
Executive Director, Engr. Oluwagbenga Ajiboye, said ₦217bn is legacy debt, while the rest is from unpaid services. He added that land...
The Ministry of Finance says President Bola Tinubu’s $21.5bn borrowing request will not automatically raise Nigeria’s debt burden.
In a statement, the ministry explained that the loan is part of a 2024–2026 borrowing plan meant to support infrastructure, transport, energy,...
The Minister of Power, Adebayo Adelabu, says the federal government owes electricity generation and distribution companies over N4 trillion in subsidies and unpaid bills.
He revealed that N2 trillion is legacy debt to GenCos, while N1.9 trillion is owed for 2024 subsidies. DisCos are also awaiting N450...
The National Chairman of the All Progressives Congress (APC), Abdullahi Umar Ganduje, has revealed that the party's National Working Committee (NWC) inherited a debt of N8.9 billion.
Speaking at the APC National Executive Committee (NEC) meeting in Abuja, Ganduje attributed the debt to expenses from pre-election legal battles, election cases,...
Former Vice President Prof. Yemi Osinbajo has called for greater debt forgiveness for African nations, emphasizing the continent's heavy borrowing costs and rising debt burdens. Speaking at the 23rd Chief S.L. Edu Memorial Lecture organized by the Nigerian Conservation...
President Bola Ahmed Tinubu announced on Monday that Nigeria’s debt service-to-revenue ratio has significantly decreased, dropping from 97 percent to 65 percent. Speaking at the swearing-in ceremony of seven newly appointed ministers in Abuja, Tinubu described this reduction as...
The Nigeria National Petroleum Corporation Limited (NNPCL) has admitted it is struggling with significant financial strain due to debt owed to international petrol suppliers.
There had been media reports suggesting the NNPCL was in a considerable amount of debt, approximately...
The governor of Kaduna state, Senator Uba Sani, was at a town hall meeting on Saturday, March 30th, 2024, to give an account of hjs stewardship where he made some staggering revelations about the state of he inherited and...
