1st MARCH, 2022

UK announces 10 million pounds aid for Nigeria’s energy sector:The UK minister for Africa, Vicky Ford, on Monday announced a 10 million pounds concessional aid for the Nigerian energy sector. According to Ms Ford, the fund will help reduce the risk for pension and insurance funds when they are investing in energy access projects and support Nigeria’s COP26 commitments
Nigeria Adds 300MMscfd After Inauguration of Gas Gathering Facility in Delta State: As part of effort to expand gas usage in the country, the federal government through the Nigerian Content Development Board (NCDMB) and the private sector, added about 300 million standard cubic feet per day (MMscfd) of gas to its national supply base
Emerging Africa to raise N250bn for MSMEs, infrastructure in Northern Nigeria: African investment banking franchise, Emerging Africa Group (EAG) is to, within the next two years, raise a minimum of N250 billion to finance infrastructure development and Micro, Small and Medium Enterprises (MSMEs) in Northern Nigeria.
Agric sector output grows by N3.89tn in two years despite rising insecurity:The agriculture sector recorded improved performance in 2021, when compared to the previous year, data from the National Bureau of Statistics have shown. The NBS said the sector output grew by N3.89tn from N37.22tn in 2020 to N41.12tn last year
GCR accords a national scale long term Issue rating of AAA(NG) to MTN Nigeria Communications Plc’s N89.999bn Series 2 Senior Unsecured Bonds; Outlook Stable: GCR Ratings (“GCR”) has assigned a national scale long term Issue rating of AAA(NG) to MTN Nigeria Communications Plc’s N89.999bn Series 2 Senior Unsecured Bonds. The Outlook on the rating is Stable
GCR accords an Indicative Rating of BBB+(NG) to Jewel Sukuk SPV Limited’s N35bn Al-Ijarah Sukuk Issue; Outlook Stable: GCR Ratings (“GCR”) has assigned a national scale long term indicative Issue rating of BBB+(NG) to Jewel Sukuk SPV Limited’s N35bn Al-Ijarah Sukuk Issue. The Outlook on the rating is Stable
GCR assigns an Indicative rating of A-(NG)(IR) to Presco Plc’s proposed up to N30bn Series 1 Bond issue; Outlook Stable: GCR Ratings (“GCR”) has assigned a national scale long term indicative rating of A-(NG)(IR) to Presco Plc’s proposed up to N30bn Series 1 Senior Unsecured Bond, with the Outlook accorded as Stable
GCR accords an indicative national scale long term Issue rating of A-(NG)(EL)(IR) to Chrisland School Funding SPV Plc’s proposed N6bn Series 1 Senior Secured Bond; Outlook Stable:GCR Ratings (“GCR”) has assigned a national scale long term indicative Issue rating of A-(NG)(EL)(IR) to Chrisland School Funding SPV Plc’s proposed N6bn Series 1 Senior Secured Bonds (“Chrisland SPV Plc Series 1 Secured Bond” or “the Secured Bond”). The Outlook on the rating is Stable
CBN’s OMO Auctions Drop by 67% to N400bn on Weak Economic Activity, Illiquidity: As the country’s financial markets continued to dance to the tune of monetary policy implementations, the Central Bank of Nigeria (CBN) in first two months of 2022 auctioned N400 billion worth of Open Market Operation (OMO).
Inadequate telecom infrastructure hampering broadband penetration — NCC: The Nigerian Communications Commission has said inadequate telecommunication infrastructure is hampering the capacity to deliver the broadband penetration Nigeria needs to boost access to services, enhancing economic growth and development
N2.55bn unremitted pensions recovered in 2021, says PenCom: The National Pension Commission has said it recovered N2.55bn pensions deducted by employers from employees’ monthly emoluments in 2021 but not remitted to the Retirement Savings Accounts with their respective Pension Fund Administrators
Lekki deep seaport 96% complete – ICRC: The Lekki Deep Sea Port has reached 96 percent completion, Micheal Ohiani, the acting director-general, Infrastructure Concession Regulatory Commission (ICRC)
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