N30bn bonds to tackle climate change- Buhari: The President, Major General Muhammadu Buhari (retd.), has disclosed that Nigeria raised over N30bn to finance its climate change adaptation efforts by issuing two sovereign green bonds. Buhari noted that, Nigeria, like other countries of the world, particularly those of the Sahel region has a lot of human activities that dangerously interfere with the earth’s natural defences against solar radiation and temperature change.
NCC plans to reduce use of power generators to 54,000 base transmitter stations: The Nigerian Communications Commission (NCC) has announced its plans to reduce the use of generators for 54,000 base transmitter stations. According to the NCC’s Executive Commissioner for Stakeholder Management Barrister Aleleke Adewolu, the telecom regulator is committed to reducing the impact that telecommunications operations have on climate change and the environment.
5G rollout raises telecom foreign investment by 129%: According to capital importation data from the Central Bank of Nigeria fifth-generation technology rollout and investment in communication infrastructure increased foreign investments into the telecommunication sector by 129.21 per cent in the first 11 months of 2022. Capital importation into the telecom sector jumped to $399.91m in 2022 from $174.47m 2021.
Post-harvest losses, weak policies stall Nigeria’s agriculture- UN: According to the United Nations Food and Agriculture, low crop yields, post-harvest losses, food safety concerns, and weak implementation of relevant policies, among others, are stagnating agriculture production in Nigeria, The UN agency stated that Nigeria noted that food self-sufficiency could be attained through production technologies and entrenching sustainable and inclusive food systems in the structure, governance and administration.
DataPro assigns LandWey short and long term Issuer ratings: DataPro has assigned LandWey Investment Limited, short-term rating of A2 and long-term rating of “BBB” with outlook regarded as stable
Nigeria’s records trade surplus for the first time in three years: CBN has disclosed that Nigeria has recorded a trade surplus for the first time in three years signifying that Nigeria’s export businesses are gradually clawing back most of the losses recorded after the Covid-19 worldwide shutdown. According to the National Bureau of Statistics’ Foreign Trade Report, Nigeria’s foreign trade rose to NGN52.4 trillion in 2022.
Pension Assets Up N568.33bn in 3 Months, Total Assets Now N14.99tn: The National Pension Commission (PenCom), has disclosed that pension assets now stand at N14.99 trillion witnessing N568.33 billion growth within the three months from September 2022 when it stood at N14.42 trillion to N14.99 trillion as at 31 December 2022. The commission stated this in its last quarter 2022 report of Pension sector published in its official website.
Nigeria produced an average of 1.3 million barrels per day in February 2023: According to data from the Nigerian Upstream Petroleum Regulatory Commission (NUPRC), Nigeria produced an average of 1.3 million barrels per day of crude oil in February 2023. The Group CEO of NNPC Mele Kyari noted that Nigeria has crossed 1.6 million barrels per day and is on its way to meeting its quota.
Nigerian economy loses 20 trillion- CPPE : The Centre for the Promotion of Private Enterprise (CPPE) has stated that the Nigerian economy has lost NGN20 trillion as 70% of cash has been sucked away from the economy. The Centre also noted that the protracted cash scarcity has crippled economic activities in the country and is now a major risk to the livelihoods of most Nigerians.