Mon. May 10th, 2021

BUSINESS NEWS

The Special Adviser to the President on Infrastructure, Ahmed Rufai Zakari, has faulted a report by the World Bank, saying the Federal Government spends at least one point five billion dollars to meet the shortfall in the Country’s electricity sector.

The presidential aide in his react ion described the survey conducted by the World Bank, which also claimed that seventy-eight percent of power consumers in Nigeria get less than twelve hours of daily supply of electricity as baseless.

The Securities and Exchange Commission has urged investors in the Capital Market to register for e-dividend so that they can receive the benefits of their investments in the Capital Market.

The Executive Commissioner, Operations, SEC, Mr. Dayo Obisan, who made the call while speaking with BCA Business News crew, described the registration as necessary to reduce the unclaimed dividends profile as well as increase liquidity in the Capital Market and economy.

The Nigerian Electricity Regulatory Commission has announced that another Tariff review for Nigeria eleven Power Distribution Companies would hold in July.

This decision contained in its notice of Minor and Extraordinary review of Tariffs for Electricity Transmission and Distribution Companies, might lead to a rise in the tariffs payable by electricity users as from July.

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