Power Sector: EU Invests N53.9bn In Nigeria
The European Union on Tuesday announced that it had committed over €156.3m (N53.9bn at N344.88 to one euro) in different financing instruments in Nigeria’s power sector.
It, however, regretted that the country’s power sector was losing N1.3bn daily despite...
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 Finance Institution (DFI) has also emphasised the need for Africa to prioritise investments in quality infrastructure; enhanced dialogue and support...
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 Senior Secured Medium-Term Loan Facility Agreement, worth $640 million (N2.3trillion).
The refinancing of the facility followed the renewal of Neconde Energy...
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 is a new target. But it is riding on the expected success from the extension of the Contributory Pension Scheme...
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 Executive Officer, NSIA, Mr Uche Orji, said that as of the end of 2018, the NSIA had assets under management...
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 March 2019.
Nigeria has 11 Discos. The electricity generated by power generation companies is transmitted by the TCN to power distributors,...
