25th March 2024

AEDC partners with Niger govt to boost power supply: The Abuja Electricity Distribution Company, AEDC, on Wednesday disclosed that it would be partnering with the Niger State Government to boost electricity supply to the state through the ‘Light up Niger 2024’ initiative.
Energy Crisis: Vandalism, debt, others hinder 8,000MW supply —Minister: THE Minister of Power, Adebayo Adelabu, has decried the huge revenue lost to the incessant attacks on electricity facilities by vandals who have indulged in blowing up these facilities with explosive.
Pension Funds investment in Infrastructure up 32.9% to N150.8b: Investment in Infrastructure Funds by Pension Fund Administrators, PFAs, has hit N150.8 billion in January 2024, showing a 32.9% Year-on-Year, YoY, increase from N113.485 billion recorded in the corresponding period of 2023.
Otu inaugurates 20km evacuation road: The Governor of Cross River State, Bassey Otu on Thursday commissioned a 20-kilometre road constructed by Lafarge Africa Plc.
Nigeria seeks joint regional protection of undersea cables: Nigeria has called for a coordinated and multilateral approach by the West African region to jointly protect shared telecommunications infrastructure, and diversify connectivity, to ensure uninterruptible connections.
Nigeria’s public infrastructure investment fails to match population growth of 2.5% P/A- Report: Nigeria’s allocation of public funds towards critical sectors to essential infrastructure falls short of meeting the demands of a population that is expanding at an approximate annual rate of 2.5%, a Coronation report has said.
GCR affirms Enugu State Government of Nigeria’s Issuer ratings of BBB(NG)/A3(NG), Stable Outlook: GCR Ratings (GCR) has affirmed the national scale long-term and short-term Issuer ratings of BBB(NG) and A3(NG) respectively accorded to Enugu State Government of Nigeria, with the Outlook accorded as Stable. Rated Entity / Issue Rating class Rating scale Rating Outlook Enugu State Government of Nigeria Long-term Issuer National BBB(NG)…
FAAC Disbursement Reaches N2.07trn in February 2024: According to the National Bureau of Statistics (NBS), the Federal Account Allocation Committee (FAAC) distributed N2.07tn in February 2024 from the total revenue collected in January 2024 among the Federal Government, States, and Local Government Councils.
Nigeria’s Total Public Debt Stock Hits N97.34trn or USD108.29bn in Q4 2023: Nigeria’s Public Debt Stock as of December 31, 2023, was 97.341 trillion or USD108.229 billion. This amount comprises the Domestic and External Debt Stocks of the Federal Government of Nigeria (FGN), the Thirty-six (36) state governments and the Federal Capital Territory (FCT).
Nigeria’s inflation expected to rise to 32.63% in March 2024 – CBN deputy gov: Nigeria’s headline inflation is projected to soar to 32.63% in March 2024, according to Muhammad Sani Abdullahi, Deputy Governor, of the Economic Policy Directorate of the Central Bank of Nigeria (CBN).
FG raises N475.67 billion in March bond auction over rising rates rally: The auction, conducted on March 18, 2024, by the Debt Management Office (DMO), attracted an overwhelming interest from investors, demonstrating their confidence in the nation’s economic stability and growth potential.