Day: April 4, 2021

Nigerians cough up N542.73bn electricity bills to DisCos in one year

Precious Ibekwe

  Nigerians paid a whooping N542.73 billion electricity bills in the year 2020. The 11 Electricity Distribution Companies (DisCos) across the country, collectors of the revenues, on the other hand, recorded a shortfall of N273.42 billion in the year. They, findings by Platforms Africa showed, received a total of N542.73 billion out of N816. 15 billion they billed their consumers. This is an increase of N42.46 billion from the total of N230.96 billion shortfall recorded in 2019. Checks also revealed that the amount the DisCos generated from their consumers in…

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COVID-19: How Kenya Secured $2.3bn Grant For Economy Restructuring – IMF

Aoko Benjamin

  The International Monetary Fund (IMF)  said it has approved a $2.34 billion aid package to Kenya to “address the urgent need to reduce debt vulnerabilities.” The IMF said the funds would be spread over 38 months, with an immediate disbursement of about $307.5 million, “usable for budget support.” “Kenya was hit hard at the onset by the Covid-19 pandemic,” the International Monetary Fund said, highlighting the country’s “forceful policy response” that led to an economic recovery in 2021 after a slight contraction in GDP in 2020. But the crisis…

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