7th MARCH, 2022

Nigeria needs N36tr yearly to close infrastructure gap: For Nigeria to meet its huge infrastructure, the nation needs about N36 trillion yearly for the next 30 years. A new report on Nigeria’s Economic Outlook 2022 published by Proshare Economy, identifies the necessary investment in the infrastructure company (InfraCo)
Gas-to-power’ll resolve electricity crisis –NLNG: The Nigeria Liquefied Natural Gas(NLNG) Limited, has said Nigeria needs to leverage its huge gas potential to accelerate power generation. The Managing Director, NLNG, Mr. Philip Mshelbila, disclosed this at the Nigeria International Energy Summit (NIES)
Minister Queries Completion Of Kano-Kaduna Rail Project: The China Civil Engineering Construction Corporation CCECC has been accused of purposely delaying the construction of the Kano-Kaduna railway, north western Nigeria.
INFRACO may take over Lekki-Epe road: The Central Bank of Nigeria (CBN) Governor, Godwin Emefiele, hinted, yesterday, that he would engage Lagos and Federal governments on the possibility of allowing Infrastructural Corporation of Nigeria Plc (INFRACO) to take over Lagos Free Zone (LFZ) access roads.
GCR Upgrades Stanbic IBTC Asset Management Limited’s National Scale Long-term Issuer Rating to AA+(NG) from AA(NG), to align with the group’s score. The Short-term rating was affirmed as A1+(NG). Outlook remains Stable: GCR Ratings (“GCR”) has upgraded Stanbic IBTC Asset Management Limited’s national scale long term issuer rating to AA+(NG) from AA(NG) in alignment with the group’s risk score
GCR places LAPO MFB SPV Plc’s Series 1and Series 2 Bonds BBB(NG) ratings on “Review Extension”: GCR Ratings (“GCR”) has placed LAPO MFB SPV Plc’s Series 1 and Series 2 Bonds long term issue ratings of BBB(NG) on ‘Review Extension’.
GCR places LAPO Microfinance Bank Limited’s BBB(NG) / A3(NG) Nigerian National Scale Issuer credit ratings on “Review Extension”: GCR Ratings (“GCR”) has placed LAPO Microfinance Bank Limited’s national scale long and short-term issuer ratings of BBB(NG)and A3(NG) respectively on ‘Review Extension’
Nigeria’s gas reserve hits 209.5 TCF – NMDPRA: The Nigerian Midstream and Downstream Petroleum Regulatory Authority (NMDPRA) says Nigeria’s proven natural gas reserve has risen to 209.5 Trillion Cubic Feet (TCF) as at Jan. 1, 2022
Lekki Deep Sea Port Construction Now at 85% Completion: Construction work on Lekki Deep Sea Port has now reached 85% completion at the end of February 2022, according to the latest status update released by the promoter – Lekki Port LFTZ Enterprise Limited
External reserves reverses negative trend, rises to $39.83bn: Buoyed by the recent surge in the price of crude oil, the nation’s external reserves last week recorded the first week-on-week, WoW, increase in 16 weeks, rising to $39.836 billion
Brent crude surges above $135 per barrel as Russia–Ukraine war rages on: The global benchmark, the Brent crude futures has started the trading session, surging over $135 per barrel, as Russia’s invasion of Ukraine intensifies and oil buyers shunned barrels from one of the world’s largest exporters of crude and refined crude products
Nigeria records foreign direct investment drops to $698.8 million in 2021: Nigeria attracted a sum of $698.78 million as foreign direct investments (FDIs) in 2021, representing its lowest level on record. This is according to data compiled by Nairalytics from the Central Bank of Nigeria (CBN)