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Thursday, July 18, 2019

AfDB Budgets $38bn For Investment In Africa

AfDB Budgets $38bn For Investment In Africa   The African Development Bank (AfDB) has approved $38 billion as investment commitments to projects in Africa. The multilateral Development...

OML 42: 7 Banks Refinance Neconde’s $640m Facility

OML 42: 7 Banks Refinance Neconde's $640m Facility   A consortium of seven local and international lenders has signed an agreement to refinance Neconde Energy Limited’s...

Nigeria: Going Beyond N9trn Asset With Pencom’s Micro-Pension Plan

Nigeria: Going Beyond N9trn Asset With Pencom's Micro-Pension Plan   A significant growth in the pension industry's asset size beyond the current value of N9.03 trillion...

NSIA’s Assets Grow To N617bn Under Management

NSIA's Assets Grow To N617bn Under Management   The Nigeria Sovereign Investment Authority has grown its assets under management to $1.9bn (N617.69bn). The Managing Director and Chief...

Discos’ Debt To Transmission Company Reaches N231bn

Discos' Debt To Transmission Company Reaches N231bn The indebtedness of power distribution companies to the Transmission Company of Nigeria has risen to N231bn as of...

Ekiti, 2 Others Earmarks N5.7bn For Travels, N2.5bn For Agric

Ekiti, 2 Others Earmarks N5.7bn For Travels, N2.5bn For Agric Despite talks about the need to diversify the economy away from the dependence on the...

Nigeria’s Oil Revenue Hits N85trn In 5Years – Report

Nigeria's Oil Revenue Hits N85trn In 5Years - Report Nigeria earned about N85 trillion, or $236.2 billion from oil between 2014 and 2018, the 54th...

Refund $1.6bn To NNPC Subsidiary, Court Orders Firm

Refund $1.6bn To NNPC Subsidiary, Court Orders Firm An arbitration court has directed on Atlantic company to pay $1.6billion to a subsidiary of the Nigerian...

NCC Donates N65m To 11 Varsities For Technology Research

NCC Donates N65m To 11 Varsities For Technology Research   The Nigerian Communications Commission has awarded N65m grant to 11 universities to carry out technology research...

In March, Nigeria’s Refineries Operate At 5.55% Capacity, Record N16bn Deficit

In March, Nigeria’s Refineries Operate At 5.55% Capacity, Record N16bn Deficit Nigeria’s four refineries operated at just 5.55 per cent of their combined nameplate capacity...

NIRSAL Recieves Fresh N4.5bn From 3 Banks For Farmers

NIRSAL Recieves Fresh N4.5bn From 3 Banks For Farmers The Nigerian Incentive-Based Risk Sharing System for Agricultural Lending has secured a total of N4.5bn from...

Debt Servicing Consumes Over 50% Of Nigeria’s Revenue, Says AfDB

Debt Servicing Consumes Over 50% Of Nigeria’s Revenue, Says AfDB Debt servicing gulps more than 50 per cent of Nigeria’s revenue, the African Development Bank...

Ex-Amcon Boss: Power Sector Can Attract $30bn In Three Years

Ex-Amcon Boss: Power Sector Can Attract $30bn In Three Years A former Managing Director of the Assets Management Corporation of Nigeria has said the liberalisation...

TCN Says, “FG, Discos Need $4.3bn To Improve Power Supply”

TCN Says, "FG, Discos Need $4.3bn To Improve Power Supply"   Power distribution companies require $4.3bn to recapitalise in order to effectively invest in their networks...

Fuel Subsidies, Others Costing FG N4trn – AAC Boss

Fuel Subsidies, Others Costing FG N4trn - AAC Boss   The Executive Vice Chairman, Alpha African Advisory, Mr. Mustafa Chike-Obi, has said subsidies on fuel, foreign...

Adesina: AfDB Invested $1bn On African SMEs, Others

Adesina: AfDB Invested $1bn On African SMEs, Others The African Development Bank (AfDB) has so far invested about $1 billion on small businesses and infrastructure...

NPA Generates N67.19bn Revenue In 3 Months

NPA Generates N67.19bn Revenue In 3 Months   The Nigerian Ports Authority (NPA) has announced a revenue of N67.19 billion for the three months that ended...

About N995bn Lost Yeary To Crude Oil Theft

About N995bn Lost Yeary To Crude Oil Theft   further accretion through oil exports was weak given that oil price at US$62.3/bbl had moderated 16.6 per...

Amid Delay In Repairs, Refineries Lose N231bn Under Buhari

Amid Delay In Repairs, Refineries Lose N231bn Under Buhari The nation’s refineries suffered huge losses in the first four years of President Muhammadu Buhari’s administration...

Ecobank’s New $50m Eurobond Oversubscribed By 460%

Ecobank’s New $50m Eurobond Oversubscribed By 460% Ecobank Transnational Incorporated, ETI, the parent company of the Ecobank Group,announced on Thursday that it had successfully tapped...