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Tag: firms

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FG announces need for $2.5 billion new capital in power firms

FG announces need for $2.5 billion new capital in power firms

January 5, 2024November 20, 2024 AGS

In a bid to address the financial challenges facing Nigerian electricity companies, estimated at a staggering N2 trillion ($2.5 billion) in capital shortfall, the sector is actively seeking new investors to revitalize an industry struggling to meet the power demands … Continue reading FG announces need for $2.5 billion new capital in power firms

Business
Firms report N918.1bn loss on naira-dollar revaluation

Firms report N918.1bn loss on naira-dollar revaluation

November 13, 2023November 20, 2024 AGS

Eight companies have reported a total currency revaluation loss of N918.1bn, attributing it to a 68.55% decline in the value of the naira against the dollar. Following the Central Bank of Nigeria’s decision to let the market determine the naira’s … Continue reading Firms report N918.1bn loss on naira-dollar revaluation

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