Lekki seaport will contribute $360bn to Nigeria’s GDP – FG: The Lekki Deep Seaport in Lagos Free Trade Zone is going add about $360bn to Nigeria’s Gross Domestic Product within 45 years, the Federal Government announced on Sunday
Export Trade: NPA Flags-off Ikorodu Export Processing Terminal: In keeping with the agenda of President Muhammadu Buhari’s administration to diversify the national economy and reduce dependence on oil exports, the Nigerian Ports Authority (NPA) has flagged off the first non-oil export processing terminal
Yobe builds six zonal medical warehouses: Yobe State Drugs and Medical Consumables Management Agency has announced the completion of six zonal medical warehouses, built to reduce the cost of logistics movement for drugs in the state
5G: Telcos mull phased rollout, fear consumers’ weak purchasing power: Telecommunication companies may delay the commercial rollout of fifth-generation technology due to the weak purchasing power of their customers as a result of inflation
Nigeria to invest $2.7 billion loan in power infrastructure: The Federal Government is spending nothing less than $2.7 billion on power infrastructure, Minister of Finance, Budget and National Planning, Dr. Zainab Ahmed, has said
GCR withdraws TAK Logistics Limited’s national scale long-term and short-term Issuer ratings of BBB(NG) and A2(NG) respectively, and its Series 1 Bonds’ rating of BBB(NG), following the redemption and cancellation of the Bonds:GCR Ratings (“GCR”) has withdrawn the long-term Issue rating accorded to TAK Agro Infrastructure Plc’s N15bn Series 1 Fixed Rate Senior Secured Bonds of A-(NG) following its redemption and cancellation.
CBN increases currency in circulation by N418bn over cash transactions: The currency in circulation rose by N418bn from N2.91tn in December, 2020, to N3.33tn in December, 2021, according to figures obtained from the Central Bank of Nigeria
Investments in Economic Zones Hits $20bn in 30 Years, Says Minister: The Minister of Industry, Trade and Investment, Mr. Adeniyi Adebayo, has said total cumulative investments in the country’s Free Economic Zones (FEZs) was about $20 billion over its 30 years of operations
Energy crisis: GenCos blame N1.64trn debt for low power supply:As the energy crisis facing the country deepened at the weekend, power generation companies in Nigeria (GenCos) have attributed low electricity generation to the National Grid to the N1.644 trillion owed them by the Nigerian Bulk Electricity Trading Plc
Nigeria to Supply Equatorial Guinea With Natural Gas:Nigeria has agreed to supply natural gas to Equatorial Guinea at Nigeria’s International Energy Summit in Abuja. African energy experts are urging quick implementation of the gas deal amid high demand and supply disruptions caused by Russia’s invasion of Ukraine
