Tag: IMF

Govt’s Spending On Electricity Subsidy Hits N762 Billion

ADEOLA YUSUF

. Fresh facts and figures NERC just published on power sector reveal more   Electricity subsidy has increased to about N762bn in the first four months of 2025. Figures from various reports of the Nigerian Electricity Regulatory Commission showed that the subsidy on power was approximately N178bn in January. It rose to N194bn in February, N192bn in March, and N194bn in April. The Federal Government is therefore going to pay a sum of N198.42bn as electricity subsidy in April. According to a recent media report, the amount is N5.82bn higher…

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IMF, World Bank Hold First Meetings In Africa In 50 Years

ADEOLA YUSUF

THE IMF and World Bank traditionally hold their annual gathering of finance ministers and central bank governors outside their Washington headquarters every three years. The southern Moroccan city of Marrakesh was supposed to host it in 2021, but the gathering was postponed twice because of the Covid pandemic. A powerful earthquake that killed nearly 3,000 people in the region south of Marrakesh last month threatened to derail the event again, but the government decided it could go ahead. READ ALSO: How Nigeria Can Secure Gains from Gas – NLNG Saudi Ends “All Negotiations” On…

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