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UPDATENDDC launches ₦2.5bn infrastructure bond
ALERTAviation fuel prices drop by 8%
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NewsGold hits record high as investors seek safe haven
NewsNigeria's inflation rate drops to 24.48% in January
NewsNigeria exits technical recession with 3.46% GDP growth
NewsNigerian banking sector assets grow by 45% year-on-year
NewsBrent crude approaches $75 amid Middle East tensions
BRENT$72.45 2.10%
NewsForeign reserves hit $34.2 billion, highest in 2 years
NewsCBN raises interest rate by 400 basis points to 22.75%
DOW42,850.22 0.32%
NewsEuro depreciates against dollar ahead of ECB meeting
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BREAKINGNigeria secures $2.25 billion World Bank loan
NewsDangote Refinery begins petrol production
NAS18,290.25 1.05%
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NewsNaira stabilizes at N1,550/$1 in official market
NEWSNNPC reports 47% profit increase
NewsNGX All-Share Index hits new 2024 high as banking stocks surge
UPDATETinubu approves ₦3 trillion for power sector
NewsOil prices rally on OPEC+ production cuts extension
GOLD$2,890.5 0.85%
UPDATENDDC launches ₦2.5bn infrastructure bond
ALERTAviation fuel prices drop by 8%
EUR/USD1.0845 0.12%
NewsGold hits record high as investors seek safe haven
NewsNigeria's inflation rate drops to 24.48% in January
NewsNigeria exits technical recession with 3.46% GDP growth
NewsNigerian banking sector assets grow by 45% year-on-year
NewsBrent crude approaches $75 amid Middle East tensions
BRENT$72.45 2.10%
NewsForeign reserves hit $34.2 billion, highest in 2 years
NewsCBN raises interest rate by 400 basis points to 22.75%
DOW42,850.22 0.32%
NewsEuro depreciates against dollar ahead of ECB meeting
NewsFAAC disburses N1.1 trillion to federal, states, LGs
NewsStock market capitalization crosses N55 trillion mark
USD/NGN₦1,550 0.45%
BREAKINGSEC announces new rules for digital assets
NGXASI98,575.68 1.25%
WTI$68.92 1.80%
NewsBitcoin surges past $87,000 on ETF inflows
BTC$87,250 3.20%
BREAKINGNigeria secures $2.25 billion World Bank loan
NewsDangote Refinery begins petrol production
NAS18,290.25 1.05%
S&P5,776.65 0.15%
NewsNaira stabilizes at N1,550/$1 in official market
NEWSNNPC reports 47% profit increase
NewsNGX All-Share Index hits new 2024 high as banking stocks surge
UPDATETinubu approves ₦3 trillion for power sector
NewsOil prices rally on OPEC+ production cuts extension
GOLD$2,890.5 0.85%
UPDATENDDC launches ₦2.5bn infrastructure bond
ALERTAviation fuel prices drop by 8%
EUR/USD1.0845 0.12%
NewsGold hits record high as investors seek safe haven
NewsNigeria's inflation rate drops to 24.48% in January
NewsNigeria exits technical recession with 3.46% GDP growth
NewsNigerian banking sector assets grow by 45% year-on-year
NewsBrent crude approaches $75 amid Middle East tensions
BRENT$72.45 2.10%
NewsForeign reserves hit $34.2 billion, highest in 2 years
NewsCBN raises interest rate by 400 basis points to 22.75%
DOW42,850.22 0.32%
NewsEuro depreciates against dollar ahead of ECB meeting
NewsFAAC disburses N1.1 trillion to federal, states, LGs
NewsStock market capitalization crosses N55 trillion mark
USD/NGN₦1,550 0.45%
BREAKINGSEC announces new rules for digital assets
NGXASI98,575.68 1.25%
WTI$68.92 1.80%
NewsBitcoin surges past $87,000 on ETF inflows
BTC$87,250 3.20%
BREAKINGNigeria secures $2.25 billion World Bank loan
NewsDangote Refinery begins petrol production
NAS18,290.25 1.05%
S&P5,776.65 0.15%
NewsNaira stabilizes at N1,550/$1 in official market
NEWSNNPC reports 47% profit increase
NewsNGX All-Share Index hits new 2024 high as banking stocks surge
UPDATETinubu approves ₦3 trillion for power sector
NewsOil prices rally on OPEC+ production cuts extension
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NGXASI98,575.68 1.25%
NGX304,523.15 0.85%
NGXBANK678.42 0.32%
NGXINS245.18 0.45%
NGXCG892.34 0.18%
NGXOIL567.89 1.12%
NGXIND345.67 0.23%
PREMIUM7,891.23 0.67%
NGXASI98,575.68 1.25%
NGX304,523.15 0.85%
NGXBANK678.42 0.32%
NGXINS245.18 0.45%
NGXCG892.34 0.18%
NGXOIL567.89 1.12%
NGXIND345.67 0.23%
PREMIUM7,891.23 0.67%
NGXASI98,575.68 1.25%
NGX304,523.15 0.85%
NGXBANK678.42 0.32%
NGXINS245.18 0.45%
NGXCG892.34 0.18%
NGXOIL567.89 1.12%
NGXIND345.67 0.23%
PREMIUM7,891.23 0.67%
MARKET NEWS
NewsNGX All-Share Index hits new 2024 high as banking stocks surge
NewsNaira stabilizes at N1,550/$1 in official market
NewsOil prices rally on OPEC+ production cuts extension
NewsNigeria's inflation rate drops to 24.48% in January
NewsCBN raises interest rate by 400 basis points to 22.75%
NewsForeign reserves hit $34.2 billion, highest in 2 years
NewsDangote Refinery begins petrol production
NewsBrent crude approaches $75 amid Middle East tensions
NewsNigerian banking sector assets grow by 45% year-on-year
NewsStock market capitalization crosses N55 trillion mark
NewsGold hits record high as investors seek safe haven
NewsBitcoin surges past $87,000 on ETF inflows
NewsNigeria exits technical recession with 3.46% GDP growth
NewsFAAC disburses N1.1 trillion to federal, states, LGs
NewsNGX All-Share Index hits new 2024 high as banking stocks surge
NewsNaira stabilizes at N1,550/$1 in official market
NewsOil prices rally on OPEC+ production cuts extension
NewsNigeria's inflation rate drops to 24.48% in January
NewsCBN raises interest rate by 400 basis points to 22.75%
NewsForeign reserves hit $34.2 billion, highest in 2 years
NewsDangote Refinery begins petrol production
NewsBrent crude approaches $75 amid Middle East tensions
NewsNigerian banking sector assets grow by 45% year-on-year
NewsStock market capitalization crosses N55 trillion mark
NewsGold hits record high as investors seek safe haven
NewsBitcoin surges past $87,000 on ETF inflows
NewsNigeria exits technical recession with 3.46% GDP growth
NewsFAAC disburses N1.1 trillion to federal, states, LGs
NewsNGX All-Share Index hits new 2024 high as banking stocks surge
NewsNaira stabilizes at N1,550/$1 in official market
NewsOil prices rally on OPEC+ production cuts extension
NewsNigeria's inflation rate drops to 24.48% in January
NewsCBN raises interest rate by 400 basis points to 22.75%
NewsForeign reserves hit $34.2 billion, highest in 2 years
NewsDangote Refinery begins petrol production
NewsBrent crude approaches $75 amid Middle East tensions
NewsNigerian banking sector assets grow by 45% year-on-year
NewsStock market capitalization crosses N55 trillion mark
NewsGold hits record high as investors seek safe haven
NewsBitcoin surges past $87,000 on ETF inflows
NewsNigeria exits technical recession with 3.46% GDP growth
NewsFAAC disburses N1.1 trillion to federal, states, LGs
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Financial EDGE

NERC Says No Tariff Increase, Orders Mass Metering

By adminResearch Signal
NERC Says No Tariff Increase, Orders Mass Metering
Click to expand

The President Muhammadu Buhari, has ordered operators in the power sector to carry out mass metering of unmetered customers nationwide, the Nigerian Electricity Regulatory Commission announced on Wednesday night.

This was obtained on its social media tweeter handle, the NERC also declared that it had not approved any increase in electricity tariffs, as reported in some quarters on Wednesday.

The commission said, “The President has directed that there should be a nationwide mass-metering programme in an effort by the Federal Government to put a stop to estimated and arbitrary billing for electricity.

“He has also approved a waiver of the import levy on meters so that those that do not have meters can be supplied as early as possible at reasonable costs.”

On tariffs, the NERC stated, “The general public and all stakeholders in the power sector are by this statement urged to disregard any reports of an arbitrary tariff increase affecting Nigerians.”

The information tweeted by the NERC was signed by its Chairman, John Momoh, as the commission further clarified that tariff reviews going forward would only follow service-based principles