CBN disburses N1.3 trn to support power supply in 5 years: The Central Bank of Nigeria (CBN) says it has disbursed over N1.3 trillion to support the provision of power supply to Nigerians in the last five years.
2nd Niger Bridge 91% completed – Fashola: The Nigerian government says the 2nd Niger Bridge linking the South-east and South-south states is now at 91 per cent completion. The Minister of Works and Housing, Babatunde Fashola, disclosed this on Thursday during the weekly ministerial briefing at the State House, Abuja.
Power Outage: $132m Projects Stalled By Right of Way Issues, Minister Tells NEC: The National Economic Council (NEC) at its monthly meeting in Abuja, yesterday, was informed that unresolved issues of Right of Way (RoW) stalled some 32 power transmission projects worth $137 million spread across the country.
Power generation now 3,522.80 MW: In what seemed to be recovery in the country’s power sector, there were indications that the average available power generation as at 6pm yesterday rose by 12.1 percent to 3,522.80 Megawatts from 2,312 MW.
NEPZA Boss: Nigeria to Generate $461bn from Lagos Free Zone in 45 Years: The Managing Director, Nigeria Export Processing Zone Authority (NEPZA), Prof. Adesoji Adesugba, has projected that the Lagos Free Zone is expected to generate over $461 billion in the next 45 years for the country.
GCR places FSDH Asset Management Limited’s A-(NG)/A2(NG) Nigerian National Scale Issuer ratings on “Review Extension”: GCR Ratings (“GCR”) has placed FSDH Asset Management Limited’s national scale long and short-term issuer ratings of A-(NG) and A2(NG) respectively on ‘Review Extension’.
Despite rising inflation, CBN votes to hold MPR at 11.5%: The Monetary Policy Committee of the Central Bank of Nigeria has voted to hold all monetary parameters constant, keeping the benchmark interest at 11.5% despite growing inflationary pressure in the country.
Oil Price: Bonny Light rise to $109.2 per barrel: Nigeria’s crude oil grade Bonny Light, yesterday rose to $109.2 per barrel in the international market, after closing lower over the weekend. Available market statistics showed that Bonny Light witnessed a marginal rise of 0.26 cent, while Brent witnessed a significant leap of 6 percent to $114.40.
Nigeria’s currency in circulation drops by N37.84 billion in February 2022: Currency in circulation in Nigeria fell by N37.94 billion in February to N3.25 trillion compared to N3.29 trillion recorded as of January 2022. This represents a 1.2% decline on a month-on-month basis, while when compared to the corresponding period of 2021, it increased by 16.95% compared to N2.78 trillion as of February 2021.
Nigeria’s Liquefied Natural Gas Export Hits 15-month High: Nigeria’s Liquefied Natural Gas (LNG) exports edged up in December 2021, compared with a year earlier and was the highest since September 2020.