Nigeria secures $1.5billion for solar projects: The US-EXIM Bank has granted Nigeria a $1.5 billion loan facility to build solar power infrastructure in ten different locations around the country. The government-to- government loan facility would cover a concession period of 20 years.
NSIA and Vitol set to establish carbon reduction and offset JV: The Nigeria sovereign Investment Authority has announced a $50 million joint venture with Vitol to invest in projects aimed at carbon reduction in order to meet Paris Agreement objectives and contribute to the SDGs .
Nigeria secures $134 million from AfDB to boost wheat production: The FG has secured a $134 million loan from the AfDB to increase domestic wheat production from 250,000 to 750,000 metric tonnes, according to the Minister of Agriculture and Rural Development. Akwa Ibom, Bauchi, Kano, Katsina, Kogi, Kwara, Kebbi, Ogun, Ondo, Oyo, Plateau, and Sokoto are among the participating states in this effort.
NPA begins construction of 4.5km road to Onne port: The Nigerian Ports Authority has commenced construction of a 4.5 km road in the federal ocean terminal in Onne Port Complex to ease movement of cargo. This is part of port expansion plans aimed at driving businesses to the Eastern ports in a bid to reduce congestion at the Lagos ports.
Electricity generation rises to 4,089mw, inadequate hinders distribution: Nigeria’s electricity generation capacity has expanded to 4089mw as a result of additional inputs from hydro stations, however the Discos have been unable to deliver adequate electricity to customers due to limited infrastructure.