11th April, 2022

Nigeria’s telecoms infrastructure gap estimated at $136 billion: Tower infrastructure companies (Towercos) have expressed readiness to help mobile network operators (MNOs) free up some required expenses to ensure the fifth-generation (5G) technology is delivered to Nigerians at a lower cost.
Energy crisis: Grid recovers with 13 plants at 2,152MW: Power generation to the national grid continued its recovery yesterday, with 13 plants clocking 2,152.60 Mega Watts.
FG targets 500MW from mini-grids, blames collapse on sabotage: The Federal Government is expecting more than 500 megawatts of electricity from interconnected mini-grids being developed by the Rural Electrification Agency.
FG Urges Oil Firms To Boost Gas Supply To NLNG Plants: The Federal Government has appealed to the partners in the Nigeria Liquified Natural Gas (NLNG) project to allow the transportation of third-party gas through its joint pipelines to increase gas supply to the plant.
CBN, others partner to close infrastructure deficit, raise $37bn: The Governor, Central Bank of Nigeria, Godwin Emefiele, has said the Infrastructure Corporation of Nigeria is signing an agreement with some public and private sector partners to raise funds to close infrastructure deficit in the country.
GCR downgrades the Ratings of LAPO MFB SPV Plc’s Series 1 and Series 2 Bonds to BBB-(NG): Outlook placed on Rating Watch Negative: GCR Ratings (“GCR”) has downgraded the ratings of LAPO MFB SPV Plc’s Series 1 and 2 Bonds to BBB-(NG), with the outlook placed on rating watch negative.
GCR downgrades LAPO Microfinance Bank Limited’s National Scale Long-term Issuer rating to BBB-(NG); Outlook placed on Negative Rating Watch: GCR Ratings (“GCR”) has downgraded LAPO Microfinance Bank Limited’s national scale long-term issuer rating to BBB-(NG) from BBB(NG), with the Outlook placed on negative rating watch. At the same time, GCR has affirmed the short-term issuer rating of A3(NG).
Nigeria made N374.8bn from domestic, export gas sale in 2021 – NNPC: Nigeria raked in about $868.5m (N361.43bn at the official exchange rate of N416.15/$) from gas export and N13.36bn from domestic gas sale in 2021, an analysis of the latest gas revenue data and other monthly reports obtained from the Nigerian National Petroleum Company Limited showed.
FG plans contribution for $1bn regional devt bank: The Federal Government has expressed readiness to release its counterpart funding for the proposed Regional Maritime Development Bank.
Currency in circulation falls by N42.43bn in two months: Currency in circulation fell by N42.43bn between January and March, figures obtained from the Central Bank of Nigeria have revealed. The CBN revealed in its data on currency that the currencies, which stood at N3.29tn as of the end of January, fell to N3.25tn by the end of March.
InfraCo to Unlock N8 trillion Pension Funds’ Assets for Deployment to Bankable Infrastructure Projects Across Nigeria: The Governor of the Central Bank of Nigeria, Mr. Godwin Emefiele yesterday announced that the Infrastructure Corporation of Nigeria (InfraCo) would unlock N8 trillion of pension funds’ assets to be deployed into bankable infrastructure projects across Nigeria.