Several state governments have strongly criticised the Enugu Electricity Distribution Company (EEDC) over significant electricity cuts to MainPower Electricity Distribution Limited, which supplies power to residents of Enugu State. In response, the states have vowed to begin licensing new power distribution companies to break the existing monopolies. They accused EEDC of using the power supply…
The Federal Government incurred a gross tariff subsidy shortfall of ₦1.949 trillion in 2024, according to the Nigerian Electricity Regulatory Commission (NERC). The subsidy arose from the gap between the actual cost of electricity supply and the frozen customer tariffs, maintained at 2022 rates despite rising market costs driven by FX fluctuations and inflation. NERC’s…
Chinese exports rose last month despite the trade war raging with the United States, official data showed Friday, ahead of talks between the world’s top two economies towards easing the standoff. Experts said that the forecast-smashing 8.1-percent rise indicated that Beijing was re-routing trade to Southeast Asia to mitigate US tariffs of up to 145…
American media stocks fell on Monday after President Donald Trump unveiled a 100% tariff on all movies produced outside the U.S. When implemented, the increase could sharply raise costs for Hollywood studios and rattle the global entertainment industry. Trump’s announcement was short on details. It did not say whether the levies will target films on…
The Minister of Finance, Wale Edun, has stated that the Federal Government plans to enhance non-oil revenue as a strategy to mitigate the negative impact of the trade tariffs imposed on certain countries by President Donald Trump. Edun also reassured that the Economic Management Team (EMT) will convene to evaluate the potential effects of the…
The Federal Government has confirmed plans to increase telecoms tariffs but assured Nigerians it won’t be by 100% as requested by operators. The Minister of Communications, Innovation, and Digital Economy, Bosun Tijan, made this known at a stakeholders’ meeting in Abuja on Wednesday. He said the Nigerian Communications Commission (NCC) would develop modalities for tariff…
