AfDB secures $15.6bn for Lagos-Abidjan highway corridor: The President of the African Development Bank, Dr Akinwumi Adesina, announces that the bank has secured $15.6bn for the construction of the Lagos-Abidjan highway corridor, which would ease transportation across West Africa
Sahara Group Eyes $1bn Investment In LPG Infrastructure: Sahara Group has said it is targeting additional $1bn investment in LPG infrastructure. The company said this during the flag-off of a 16.7 kilometre Ikpako-Ajoki Road project in Edo State by the Nigerian National Petroleum Company Limited, Enageed Resources Limited, a Sahara Group upstream company and the Edo State Government
FG seeks UN assistance for transition to electric vehicles: The Federal Government of Nigeria is seeking the assistance of United Nations (UN) in the areas of technical and infrastructural capacity in its drive to transit to electric vehicles to ensure safe and clean environment.
Govt improving electricity supply with additional 2,550MW to national grid – Power Minister: As Nigeria’s electricity challenges worsen, part of which recently manifested in the collapse of the national grid for the umpteenth time, causing widespread power outage across the country, strong indications emerged yesterday that the Central Bank of Nigeria (CBN) has commenced emergency funding of critical project that would address loopholes in the infrastructure linking the Transmission Company of Nigeria (TCN) with the nation’s eleven Distribution Companies (DisCos).
GCR assigns an Indicative Rating of AAA(NG)(IR) to LFZC Funding SPV Plc’s N25bn Series 2 Senior Guaranteed Fixed Rate Infrastructure Bonds, Outlook Stable: GCR Ratings (“GCR”) has assigned a national scale long term indicative Issue rating of AAA(NG)(IR)to LFZC Funding SPV Plc’s N25bn Series 2 Senior Guaranteed Fixed Rate Infrastructure Bonds (“Series 2 Bonds”), with the Outlook accorded as Stable
Infra-Co as CBN’s Lever for Infrastructure Rebirth: The Governor of the Central Bank of Nigeria (CBN), Mr. Godwin Emefiele has a clear perception of what the role of the Infrastructure Corporation of Nigeria Limited (InfraCo) would be in tackling the infrastructure deficit that has hampered Nigeria’s capacity to appropriate its abundant natural resources to enhance the quality of life of its people
Amid fuel crisis, Nigeria’s inflation hit 15.70% in February: The Consumer Price Index rose to 15.7 per cent in February from 15.6 per cent in January, latest figures from the National Bureau of Statistics have revealed
COP27: Nigeria, other African nations insist on hydrocarbon exploitation: Nigeria and other African nations are set to demand that Africa should be allowed to continue to exploit its hydrocarbon deposits for the development of the continent amidst calls by advanced countries for a halt in the use of fossils.
Oil price surge to boost Nigeria’s foreign reserve by almost $3 billion – Fitch: Fitch Ratings has projected that Nigeria’s foreign reserves would increase to $43 billion in 2022, up from $40.5 billion at the end of 2021, indicative of an uptick of almost $3 billion
We’ll deduct N242.53bn fuel subsidy from FAAC this month – NNPC: The Nigerian National Petroleum Company Limited is to deduct N242.53bn as subsidy on Premium Motor Spirit, popularly called petrol, from the Federation Account this month.