30th January 2024

Power generation crashes to 3,383MW despite hike in tariff: The recent increase in electricity tariff by the Nigerian Electricity Regulatory Commission, NERC, has failed to translate to improvement in power supply as on-grid generation fell to 3,383 Mega Watts as at 3 pm yesterday.
Nigeria, Morocco fast-track talks on $30bn gas pipeline: The Federal Government has intensified discussions with the Kingdom of Morocco in a bid to fast-track the process of achieving the Final Investment Decision on the $30bn Nigeria-Morocco Gas Pipeline.
Group Demands Inclusion of South-east, South-south in Ajaokuta-Kaduna-Kano Project: A socio-cultural and professional group has made a case for the inclusion of the Southeast and South-south regions in the Ajaokuta-Kaduna-Kano (AKK) Project.
FG to Begin Evacuation of 40mw from Kashimbilla Hydropower Plant in Six Months: The federal government yesterday said that the entire 40mw Kashimbilla hydropower plant in Taraba state will in the next six months begin full evacuation, distinct from the 10mw it’s currently supplying to the national grid.
TCN Attributes Low Power Generation to Gas Constraint: The Transmission Company of Nigeria (TCN) has attributed the gradual decrease in available generation into the grid to gas constraints to the thermal generating companies.
Lagos Begins Construction Of Fourth Mainland Bridge In March, Says Governor: TGovernor Babajide Sanwo-Olu of Lagos State said the construction of the long-awaited 37km Fourth Mainland Bridge will begin by the end of March or April.
FG to sell five power plants for $1bn: The Federal Government through the Bureau of Public Enterprises is currently carrying out transactions for the sale of five power plants under the National Integrated Power Projects at a cost of about $1.15bn, it was gathered on Tuesday.
FCMB Financing SPV Plc’s Series 3 NGN5.1 billion Unsecured Subordinated Bond paid in full, rating withdrawn: GCR Ratings (GCR) has withdrawn the national scale long-term issue rating of BBB+(NG) accorded to FCMB Financing SPV Plc’s Series 3 NGN5.1 billion Unsecured Subordinated Bond following its full redemption. The withdrawal was due to analytical reasons. Accordingly, GCR no longer supports the above-mentioned credit rating on the Issue.
NESG 2024 Macroeconomic Outlook – Economic Transformation Roadmap: Medium Term Policy Priorities: This report delves into the state of the Nigerian economy in 2023 and outlines a strategic plan for its transformation over the medium term.
Gross Federally Collected Revenue Increased by 28% YoY in Q3 2023: TThe most recent quarterly economic report from the Central Bank of Nigeria (CBN) on the federation’s revenue shows that the gross federally collected revenue increased by 50% q/q and 26% y/y to NGN4.8trn in Q3 ’23.
FSDH Economic Outlook 2024: GDP Growth Rate Expected to Average 2.9% in 2024: Macroeconomic Environment includes analyst’s views on GDP Growth, Inflation, Monetary Policy Rate, and Exchange Rate for 2024.
FAAC Disbursement Reaches N1.13trn in December 2023: A communique issued by the Federal Account Allocation Committee (FAAC) in January 2024 indicated that a total sum of N1.13trn was shared by the Federal Government, States and Local Government Councils.
Nigeria Railways records 103% increase in revenue to N1.89 billion Q3, 2023: In the third quarter of 2023, the Nigeria Railway Corporation (NRC) collected around N1.895 billion in revenue from passenger and cargo transports.