6th September, 2021

African Development Bank, Development Partners to Mobilise $520 m to Co-Finance SAPZ First Phase: The African Development Bank (AfDB) and its development partners have announced plans to mobilise over $520 million to co-finance the first phase of the Nigeria Special Agro-industrial Processing Zone (SAPZ).
Electricity: Power generation falls to 1,500MW as operators bicker:Power generation fell by 35.7% to stand at 1,506.9 MW, as at Monday, from the 4,221.1 MW average generation recorded on Sunday.
Nigeria attracted $3.9 bn telecoms investments in five years – Report:Nigeria’s telecommunications industry attracted $3.9 bn in foreign portfolio and direct investments between 2015 and 2020, according to a new report by Agusto & Co.
FG targets over N365 bn yearly with re-introduction of tollgates:If managed efficiently, the proposed re-introduction of tolling on federal roads nationwide will fetch the government an average of N1 billion daily or N365 billion yearly, an amount sufficient to fix major roads across the country.
Green infrastructure will mitigate flooding in Lagos:A Senior lecturer at Maritime University Delta State, Sunday Egbiki made the call at the Nigerian Society of Engineers (NSE).
GCR places FCMB Financing SPV PLC’s Series 1 and Series 3 Bonds Nigerian National Scale Issue credit ratings on “Review Extension”:GCR Ratings (“GCR”) has placed the national scale issue credit ratings of BBB-(NG) assigned to FCMB Financing SPV Plc’s Series 1 and Series 3 bonds on ‘Review Extension’.
GCR extends “Review Extension” on CardinalStone Partners Limited’s issuer ratings:GCR Ratings (“GCR”) has extended the ‘Review Extension’ on Cardinal Stone Partners Limited’s national scale long and short-term issuer credit ratings of BBB-(NG) and A3(NG) respectively.
GCR Affirms Ecobank Nigeria Limited’s National Scale Long-term and Short-term Issuer Ratings of BBB(NG) and A3(NG) respectively, Outlook Stable:GCR Ratings (“GCR”) has affirmed Ecobank Nigeria Limited’s national scale long and short-term issuer ratings of BBB(NG) and A3(NG) respectively, with a Stable Outlook .
GCR affirms Lagos State Government’s national scale long term Issuer rating of A+(NG), Outlook Positive:GCR Ratings (“GCR”) has affirmed the national scale long term and short term Issuer ratings of A+(NG) and A1(NG) respectively accorded to Lagos State Government, with the Outlook accorded as Positive.
DisCos market receipts for June stood at N26.811 billion – NBET:The Nigerian Bulk Electricity Trading (NBET), has reported that Electricity Distribution Companies (DisCos) had market receipts of N26.811 billion for the month of June.
Nigerian pension fund asset rises to N12.8 trillion as RSA contributors hits 9.4 million:Nigeria’s total pension asset value rose by N123.47 billion in July 2021 to close at N12.78 trillion compared to N12.66 trillion recorded in the previous month. This is contained in the pension funds industry report for the review month as released by the PenCom.
Nigeria’s green bond market grows to N49.19 bn:The value of the Nigerian green bonds market has grown to N49.19 billion, recording four issuances in the last three years since the debut issuance by the Federal Government in 2017.
Senate plans to cut FG’s proposed N5.6tn borrowing:The Senate has assured Nigerians that it is making efforts to reduce drastically, the N5.6 trillion which the Federal Government proposed to borrow in 2022.
Nigeria’s Eurobonds debts rise by $9.37 bn in five years:Commercial loans obtained by Nigeria through Eurobonds rose from $1.50 bn as of December 31, 2015 to $10.87 bn as of December 31, 2020, indicating a $9.37 bn or 625 per cent increase in five years.
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