FG Announces Addition of 3.53TCF to National Gas Reserves: The Federal government has announced the discovery of an additional 3.53 Trillion Cubic Feet (TCF) of gas in the country, further boosting the existing quantum of reserve to 206.53 TCF.
NLNG Train 7 $10 bn-investment begins, Buhari warns against delay: The President, Major General Muhammadu Buhari (retd.) has inaugurated the construction of the Nigeria Liquefied Natural Gas train 7 project and charged the company to ensure its timely completion.
Gas to Power: Egbin Power hit production peak of 970 MW: Egbin Power Plc announced that it recently hit highest peak production of 970 MW and plans to add between 1,750MW and 1,900MW in its Phase Two investment expansion plan.
Nigeria, others lose $110 bn annually to inefficient power supply — Mr. Kola Adesina: The Executive Director, Sahara Group, Kola Adesina, has called on various stakeholders to promote energy access in Africa, as lack of energy costs Nigeria and other African countries over $110 billion annually.
Insecurity threatening telecoms infrastructure, says stakeholders: Insecurity is posing a risk to telecommunications infrastructure in Nigeria, stakeholders in the industry have said.
GCR Affirms Wema Bank Plc’s Issuer National Scale Long Term Rating of BBB-(NG); Outlook changed to evolving from Negative: GCR Ratings (“GCR”) has affirmed Wema Bank Plc’s national scale long and short-term issuer ratings of BBB-(NG) and A3(NG) respectively; with the Outlook changed to Evolving from Negative.
Nigeria’s annual inflation rate fell to 17.93% in May —NBS: The consumer price index which measures inflation increased by 17.93 per cent (year-on-year) in May 2021. The National Bureau of Statistics disclosed in its Consumer Price Index report for May
Telcos Kick as FG Mulls Excise Tax on Airtime: The Federal government has unveiled a fresh plan to introduce excise duty on telecoms’ airtime charges. A report yesterday by Reuters said Nigeria was considering introducing an excise tax on telecoms airtime charges as a way of boosting revenue for the cash-strapped nation.
Nigeria may earn N462 billion from EMT levy in 2021 —World Bank : The World Bank has said Nigeria is likely to make N462 billion the electronic money transfer levy as a source of stable revenue in 2021. The multilateral institution said this in its ‘Resilience through Reforms’ report.
CBN Seeks to Slash Importation by 35%: The Governor of the Central Bank of Nigeria (CBN), Mr. Godwin Emefiele, yesterday said efforts are ongoing to reduce the country’s import bill by about 35%
Exchange-traded fund market cap hits N20.32 billion – NGX: The market capitalisation of exchange-traded funds listed on Nigerian Exchange Limited rose to N20.32 billion in the first quarter of 2021. The NGX said the trade volumes rose by 3,064% from nearly 0.2 million units in Q1 2020 to 5.3 million units recorded in Q1 2021.