• Debts: FG set to refund N720bn to states, says Dogara

    Debts: FG set to refund N720bn to states, says Dogara

    According to reports, the Speaker of the House of Representatives, Mr. Yakubu Dogara, has disclosed plans by the Federal Government to refund debts owed the 36 states by paying them N20billion apiece, a total of N720bn.

    Dogara said the money would be used for the provision of infrastructure by the states.

    Many states had in the past undertaken to rehabilitate failing federal government infrastructure in their domain, especially road projects with the understanding that they would be repaid by the latter.

    Statement on […]

  • Power sector debts hit N809bn

    Power sector debts hit N809bn

    It was gathered that the indebtedness to Nigeria’s power sector as a whole is worth N809bn, industry operators have revealed.

    According to the chief executive officers and senior management members of the Niger Delta Power Holding Company; Association of Nigerian Electricity Distributors, an umbrella body of the power distribution companies; Nigerian Electricity Regulatory Commission; gas producers; as well as power generation companies, the power sector may collapse soon if nothing serious is done to clear the debt.

    The operators spoke at the […]