Govt unveils advanced technology for power grid stability: The Federal Government has unveiled an Advanced Supervisory Control and Data Acquisition system for managing the national power grid.
NERC orders Discos to procure 398MW embedded power: The Nigerian Electricity Regulatory Commission has mandated electricity Distribution Companies to procure a minimum of 398MW of embedded generation to enhance the reliability of power supply across the country.
FG, Cipriani partner on Abuja smart cities: A real estate firm, Cipriani Limited, has announced a partnership with the Federal Ministry of Science and Technology on the development of smart cities in Abuja.
FG, pension, financial sectors collaborate on affordable housing: The Federal Government has launched the Ministry of Finance Incorporated Real Estate Investment Fund, aimed at addressing Nigeria’s housing deficit by partnering with the pension and financial sectors to provide affordable housing.
NCC eyes 6GHz spectrum for high-speed internet: The Nigerian Communications Commission on Thursday announced plans to harness the 6GHz spectrum to enhance internet speed and connectivity in the country.
FG signs agreement with Russian Consortium to rehabilitate Ajaokuta steel plant: The Nigerian government has signed an agreement with a Russian Consortium Company for the rehabilitation, completion and operation of the Ajaokuta Steel Plant and National Iron Ore Mining Company in Kogi State.
Rail transport generated N1.69bn in Q2 – NBS: The Nigerian rail system generated N1.69bn in revenue from passengers in the second quarter of 2024, reflecting a 53.14 per cent increase compared to the N1.10bn recorded in the same period of 2023.
ECOWAS nears final design approval for $15 billion Lagos-Abidjan Highway project: Heads of member states of the Economic Community of West African States (ECOWAS) convened in Lagos on Saturday to advance the finalization and approval of the design for the $15 billion Lagos-Abidjan Corridor Highway Development Project.
GCR assigns STI Asset Management Limited an initial Management Quality Rating of MQ3(NG) and a Nigerian Management Quality Rating of BBB(NG)(mq): GCR Ratings (GCR) has assigned STI Asset Management Limited (STI AM or the asset manager) an initial management quality rating of MQ3(NG), and a Nigerian Management Quality Rating (akin to the investment Manager Rating) of BBB(NG)(mq).
GCR places Robust International Commodities Limited’s long-term issuer rating of BBB-(NG) on Positive Outlook on the back of solid competitive position and sustained earnings growth: GCR Ratings (GCR) has affirmed the national scale long-term and short-term Issuer ratings of BBB-(NG) and A3(NG) respectively assigned to Robust International Commodities Limited, with the Outlook accorded as Positive.
Naira appreciates to N1,541.52 at I&E window on positive economic news: The exchange rate between the naira and the US dollar appreciated N1,541.52 at the official Investor and Exporter (I&E) window on Friday, September 20, 2024.
World Bank to grant Nigeria $1.7bn loan – Report: The Federal Government is set to receive a fresh loan from the World Bank, with approval expected for loans worth $1.7 billion.
Inflation drops to 32% despite petrol price hike — NBS: Nigeria’s headline inflation rate decreased to 32.15 per cent in August 2024 despite the recent hikes in the pump prices of petrol nationwide, the latest data from the National Bureau of Statistics showed.
Foreign reserves hit $2.35bn net inflow — Edun: Nigeria’s foreign reserves have seen a net inflow of about $2.35bn into the Central Bank’s coffers.
Nigeria’s nominal GDP hits N60.93tn in Q2 – FG: The Federal Government has announced that Nigeria’s nominal Gross Domestic Product reached N60.93tn in the second quarter of 2024, reflecting significant improvements in the nation’s economy.
