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Punch Newspapers Sections ’Femi Asu Published 4 April 2021 Power generation companies were not paid 59.17 per cent of the invoice issued last year for the electricity produced and fed into the national grid. The government-owned Nigerian Bulk Electricity Trading Plc buys electricity in bulk from generation companies through Power Purchase Agreements and sells through vesting contracts to the Discos, which then supply it to the consumers. NBET received a total invoice of 1N739.68bn from the Gencos last year but only paid N320.02bn to them. The nation generates most of its electricity from g...

’Femi Asu and Okechukwu Nnodim with agency report The international oil benchmark, Brent crude, dropped on Monday after climbing above the $70 per...

’Femi Asu with agency reportGhana is preparing to become first Liquefied Natural Gas importer in sub-Saharan Africa, with the terminal at the p...

Punch Newspapers Sections ’Femi Asu and  Okechukwu Nnodim Nigeria may have earned over N318bn additionally in February as a result of the increase in crude oil price in the past one month. At the virtual presentation of the 2021 Federal Government approved budget in January, the Minister of Finance, Budget and National Planning, Zainab Ahmed, had stated that Nigeria’s benchmark for crude oil price was retained at $40/barrel. Since February this year, Brent, the oil against which Nigeria’s crude oil is priced, had traded at an average that was higher than $60/barrel. It traded for $63....

’Femi Asu and Okechukwu Nnodim Over three million Nigerians have lost about N18bn through Ponzi schemes, the Securities and Exchange Commission st...