Business Archives - Independent Digital News Network

Tinubu Defends Borrowing as Nigeria’s Debt Nears ₦159 Trillion Amid Fiscal Concerns

Nigeria debt borrowing debate has intensified as total public debt approaches ₦159 trillion, with President Bola Ahmed Tinubu defending continued borrowing to fund infrastructure and reforms. Critics warn of rising fiscal risks, highlighting concerns over debt sustainability, revenue constraints, and the long-term impact of sustained borrowing on economic stability.

Egbin Shutdown Cuts 600MW, Triggers Lagos Power Supply Crisis

IDNN2 days ago2 days ago0

Egbin power shutdown Lagos electricity crisis has intensified after Nigeria’s largest thermal plant dropped from over 600MW to zero output following critical equipment failure. The disruption, compounded by a major transmission line outage, has triggered widespread load shedding across Lagos, exposing structural weaknesses in the national grid and raising concerns over prolonged supply instability.

FCC Digital Platform Launch: Omidiran Reforms Target Transparency Across 700 MDAs

IDNN5 days ago5 days ago0

The FCC digital platform launch marks a significant step in Nigeria’s governance reform, with the Federal Character Commission unveiling a new system to monitor compliance across over 700 MDAs. Backed by top government officials, the initiative aims to improve transparency, public access, and institutional accountability, aligning with broader efforts to modernise public sector operations nationwide.

Nigeria Aviation Cost Crisis Escalates as Airlines Threaten Shutdown Over Fuel Spike and Structural Cost Burden

IDNN5 days ago5 days ago0

Nigeria aviation cost crisis has escalated after airlines warned they may suspend operations within days over surging fuel prices and mounting structural costs. Despite government relief measures, operators say deeper issues—ranging from multiple charges to forex pressure—remain unresolved, pushing the sector toward a potential shutdown and raising concerns about safety, pricing and long-term sustainability.

Nigeria Aviation Collapse Risk Surges as Airlines Threaten Nationwide Shutdown Over Fuel Crisis

IDNN6 days ago6 days ago0

Nigeria aviation collapse risk has surged to a critical level as domestic airlines warn of a possible nationwide shutdown over spiralling Jet A1 fuel prices. Operators say revenues now barely cover fuel costs, with negotiations deadlocked. With a shutdown deadline looming, the crisis threatens travel disruption, economic activity, and the long-term stability of Nigeria’s aviation sector.

Adelabu Says Power Has Improved — Nigerians Still in Darkness

IDNN3 weeks ago3 weeks ago0

Adelabu power generation claims have intensified debate as Nigeria’s power minister says output has risen to around 5,000MW, yet outages persist nationwide. The gap between generation figures and electricity delivered to consumers has raised concerns about transmission bottlenecks and distribution inefficiencies, highlighting a structural problem at the heart of Nigeria’s power supply system.

FG Cuts Vehicle Tariffs to 5%, Raises Excise on Alcohol and Tobacco in Fiscal Policy Shake-Up

IDNN3 weeks ago3 weeks ago0

FG vehicle tariffs alcohol tobacco duties policy has shifted as the Federal Government reduces vehicle import tariffs to around 5% while increasing excise duties on alcoholic drinks and tobacco products. The adjustment, outlined in recent fiscal policy updates, signals a recalibration of revenue strategy, balancing consumer relief with targeted taxation amid Nigeria’s ongoing economic and fiscal reforms.

FG Rejects ‘Error Admission’ Claims as Tax Reform Narrative Faces Credibility Test

IDNN3 weeks ago3 weeks ago0

FG tax reform credibility test has intensified as the Federal Government counters claims that it admitted errors in its proposed fiscal framework. Officials insist recent comments by reform leaders were misinterpreted, emphasising that ongoing adjustments reflect consultation, not failure. The controversy underscores growing concerns over policy clarity, communication gaps, and public trust in Nigeria’s tax reform agenda.

NNPC Reports ₦2.68tn Revenue — But Oil Output Falls to 1.25mbpd, Profit Drops

IDNN3 weeks ago3 weeks ago0

NNPC revenue oil production paradox has intensified as the Nigerian National Petroleum Company reported ₦2.68 trillion in revenue in its latest monthly report, despite crude output falling to about 1.25 million barrels per day and profit declining. The contradiction highlights rising costs, operational inefficiencies, and structural weaknesses, raising urgent questions about sustainability in Nigeria’s oil-dependent economy.

Nigeria Power Crisis Deepens as Adelabu’s Two-Week Promise Fails, Grid Stuck at 3,000MW

IDNN3 weeks ago3 weeks ago0

Nigeria power crisis has worsened after Power Minister Adebayo Adelabu’s two-week recovery promise failed to deliver results, with electricity generation still trapped between 3,000 and 4,000 megawatts. The failure highlights a deeper structural breakdown across generation, transmission, and distribution, intensifying economic hardship and exposing widening gaps between government assurances and sector realities nationwide.