Western Firms Planning $5bn Investment In Power Sector       A consortium of Western investors has presented their plan to invest over $5bn in Nigeria’s power sector, the Federal Government has said. According to information obtained from the Office of the Minister of Power in Abuja on Sunday,...

CBN Raises Target Credit To N100bn For MSMEs   The Central Bank of Nigeria (CBN) has increased the N50 billion Target Credit Facility (TCF) to N100 billion with the interest rates slashed to 5 per cent from 9%, to keep MSMEs afloat in business. The Director, Development...

In Three Years, Nigeria’s Pharmaceutical Imports Top N500bn     Nigeria imported over N500 billion worth of pharmaceutical products in the last three years, it was leant. It was leant that only 20 per cent of pharmaceutical products are being manufactured locally, while 80 per cent pharmaceutical are...

Fed Govt To Fund Electricity Agency With N152bn In 2021     In spite of the public outrage over last week’s electricity tariff hike which the government said it was meant to fund electricity infrastructure, the federal government is set to spend additional N152.416 billion in funding...

NNPC Obtains $1bn To Fund Upstream Operations       The Nigerian National Petroleum Corporation on Thursday night announced that it had obtained a prepayment funding of about $1bn to support the upstream operations of its subsidiary, the Nigerian Petroleum Development Company. It said the crude oil prepayment had...

IFC Discloses $39m Fund For Nigeria’s Plastics, Recycling Industry       The International Finance Corporation (IFC), has announced a $39 million financing package to build a Continuous Polymerisation PET Resin plant in Ogun State, which would source over 20 percent of its raw materials from local waste...