31st August, 2021

Grid collapse followed drop in system frequency, says TCN:Power generation increased to 3,910 megawatts on Tuesday morning following the restoration by the Transmission Company of Nigeria of the national grid which had collapsed the preceding day.
Transport- FG Targets 50,000 Jobs from Highway Dev Initiative, Says Fashola:The Federal government’s has said that its Highway Development and Management Initiative (HDMI) is expected to create 50,000 direct and over 200,000 indirect jobs.
NDPHC Signs Deal to Supply 20MW Electricity to Kano:The Niger Delta Power Holding Company (NDPHC) Limited has signed a Power Purchase Agreement (PPA) with the Kano State Government for the supply of 20 megawatts of electricity to enhance the operations of the state water board.
AfCFTA: Nasarawa Marks 270,000 Hectres for Commercial Agriculture:The Nasarawa State government has announced that it has marked over 270,000 hectres of land for the purpose of purely commercial agriculture to earn foreign exchange for the state through the Africa Continental Free Trade Area (AfCFTA).
NNPC, KDSG, Sign MoU on Gas Utilisation, Expansion:Nigeria’s domestic gas penetration aspirations have received a major boost as the Nigerian National Petroleum Corporation (NNPC) and the Kaduna State Government have signed a Memorandum of Understanding (MoU) for utilisation and expansion of gas supply in the state.
GCR places Wema Funding SPV Plc’s Series 1 and Series 2 Bonds Nigerian National Scale Credit Ratings of BBB-(NG) on “Review Extension”: GCR Ratings (“GCR”) has placed the national scale credit ratings of BBB-(NG) assigned to Wema Funding SPV Plc’s (“the Issuer”) Series 1 and Series 2 Bonds on ‘Review Extension’.
2022 Budget: Health, defence, transport, works get highest capital allocations:The Ministries of Works and Housing, Defence, Health and Education are to get the highest capital allocation in the 2022 Federal budget.
FG spends N400 bn annually on social investments – SGF: The Federal Government is spending over N400 bn annually on social investment programmes in its bid to lift millions of Nigerians out of poverty, the Secretary to the Government of the Federation.
Nigeria, others benefitted from $2.69 bn guarantees – World Bank:The World Bank has disclosed that Nigeria and 19 other countries benefitted from about $2.69 billion guarantees between 2020 and 2021.
Naira falls sharply across forex markets despite 32% increase in dollar supply:The exchange rate between the naira and the US dollar closed at N412/$1 at the Investors and Exporters window, where forex is traded officially. Naira depreciated against the US dollar to close at N412/$1 on Friday, representing a N1.12 loss when compared to N410.88/$1 recorded at the close of trading the previous day.
Nigeria’s GDP grows further by 5.01% in Q2 2021 : Nigeria’s Gross Domestic Product (GDP) grew by 5.01% (year-on-year) in real terms in the second quarter of 2021, marking three consecutive quarters of growth following the negative growth rates recorded in the second and third quarters of 2020.
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