NCDMB Insists on Patronage of Local Facilities in $5bn Bonga North, $550m Ubeta Projects: The Nigerian Content Development and Monitoring Board (NCDMB) has reiterated its call for the patronage of indigenous oil and gas facilities during the award and execution of projects such as the Shell”s $5 billion Bonga North deepwater project and TotalEnergies’ $550 million Ubeta gas project.
Tinubu Flags off Lagos-Ibadan Road Expansion Project: President Bola Tinubu yesterday launched the completed and ongoing 24-kilometre section, alongside the upcoming 48-kilometre section, of the Lagos-Ibadan dual carriageway.
EU to Provide Support for FG’s 90,000km Fibre-optic Expansion: The European Union (EU) has said it would support the federal government’s 90,000 kilometres of national fibre-optic expansion, improvement of digital public services, and upskilling of the ICT workforce through programmes like the Three Million Technical Talents (3MTT).
Power generation hits 5,543MW as govt reveals new plans: The Federal Government has revealed that it is interested in moving most electricity consumers in Nigeria to Band A where they will enjoy a minimum of 20 hours of electricity supply daily.
NMDPRA grants Falcon 25-year gas distribution licence: The Nigerian Midstream Downstream Petroleum Regulatory Agency has granted Falcon Corporation Limited a 25-year Gas Distribution Licence.
FG Seeks Private Investment in Nigeria’s 35,000km Federal Road Infrastructure: The Minister of State for Works, Bello Goronyo, has said that the over 35,000 kilometres of the federal government’s road network across Nigeria cannot be funded through annual budgets alone, hence the need to source for alternative funding outside the government’s coffers.
GCR assigns national scale long/short-term issuer ratings of AA(NG)/A1+(NG) to Access Bank Plc: GCR Ratings (GCR) has assigned national scale long and short-term issuer ratings of AA(NG) and A1+(NG) respectively to Access Bank Plc (Access or the bank). The outlook is Stable. Rated Entity Rating class Rating scale Rating Outlook Access Bank Plc Long Term Issuer National AA(NG) Stable Short Term Issuer National…
Fitch Affirms Ecobank Transnational Incorporated at ‘B-‘; Outlook Stable: TFitch Ratings has affirmed Ecobank Transnational Incorporated’s (ETI) Long-Term Issuer Default Rating (IDR) at ‘B-‘ with a Stable Outlook and Viability Rating (VR) at ‘b-‘. A full list of rating actions is below.
Nigeria’s Net Trade Surplus Increased to US$7.7bn in November 2024: The Central Bank of Nigeria’s (CBN) latest monthly economic report for November 2024, noted that the provisional value of Nigeria’s total merchandise trade rose marginally by 1% month-on-month (MoM) to US$7.7bn.
FG has spent $8 billion to support the Naira – Rewane: The Federal Government has spent approximately $8 billion in an attempt to stabilize the naira amid ongoing economic pressures.
CBN votes to hold all interest rates at 27.5% as MPC sees early signs of inflation easing: The Central Bank of Nigeria’s (CBN) Monetary Policy Committee (MPC) has voted to hold all key rates steady, keeping the Monetary Policy Rate (MPR) at 27.5% as it monitors inflation and exchange rate dynamics.
Nigeria’s inflation rate drops to 24.48% in January 2025 amid CPI rebasing: Nigeria’s headline inflation rate dropped to 24.48% year-on-year in January 2025, following the rebasing of the Consumer Price Index (CPI), according to data released by the National Bureau of Statistics (NBS).
Nigeria’s money supply surges to N110.98 trillion as MPC members meet to decide rates: Nigeria’s broad money supply (M3) rose to N110.98 trillion in January 2025, marking a 17.3% year-on-year (YoY) increase from N94.61 trillion recorded in January 2024.
