Lagos to issue Sub-Saharan Africa’s largest sub national Sukuk : Lagos State is considering issuance of Sukuk to raise amenable finance to fund infrastructural projects as the state seeks to diversify its funding base to achieve dual objectives of financial inclusion and harnessing opportunities in the alternative ethical financing market.
Operators invest N66.86 bn pension funds in infrastructure: Pension fund administrators have invested N66.86 bn funds under the Contributory Pension Scheme in infrastructure.
Nigeria’s Gas Reserves To Hit 230tcf-DPR: The Department of Petroleum Resources (DPR), has said that Nigeria’s gas reserve will increase to 230 trillion cubic feet by 2030.
Lagos fibre project to gulp N82 bn amid RoW charges concerns: The Lagos State Unified Duct Infrastructure Project (LASG-UDIP) is expected to gulp about $200 million or N82 billion (N410/$) on completion of the project, The Guardian has gathered.
IBEDC loses N24 bn, records 15,032 vandalism cases: Ibadan Electricity Distribution Company (IBEDC) recorded a revenue deficit of N24 billion and 15,032 cases of vandalism on its assets between January and July, this year. IBEDC Chief Operating Officer, John Ayodeji, who declared this at the IBEDC half year briefing, stated that the company was running at a loss and experiencing a deficit of N4 billion monthly.
GCR affirms Lafarge Africa Plc’s Long Term Issuer rating of AA-(NG), Stable Outlook: GCR Ratings (“GCR”) has affirmed Lafarge Africa Plc’s national scale long-term and short-term Issuer ratings of AA-(NG) and A1+(NG) respectively, with the Outlook accorded as Stable .
Nigeria’s international trade deficit hits N5.81 trillion in H1 2021: Nigeria extended its negative trade balance in the first half of 2021, as its trade deficit surged to N5.81 trillion in the period. This is according to the recently released foreign trade report by the National Bureau of Statistics (NBS) .
Naira hits all-time low of 543 against dollar: The naira on Thursday continued its downward spiral on the parallel market, selling for N543 to the dollar.
Nigeria’s petrol import surges to N782 billion in Q2 2021: Nigeria imported motor spirit, known as petrol worth N782.5 billion in the second quarter of 2021, representing a 799% year-on-year increase compared to N87.08 billion recorded in the corresponding period of 2020.
Debt servicing: Nigeria pays $1.79 bn to World Bank, China in five years: Nigeria spent $1.79 bn in five years on servicing the debts owed to World Bank and the Exim Bank of China, according to an analysis of data on actual external debt service payments from the Debt Management Office.