NDDC Plans $27.3bn Road, Power Projects   The Niger Delta Development Commission (NDDC) is seeking partnerships to finance power and road projects worth about $27.3bn in the oil-rich region of Nigeria. It disclosed this in a July 2023 document titled, “A Sea of Opportunities in the Niger...

$3bn Afrexim Bank Loan: NNPCL Followed Due Process   Facts have emerged that contrary to reports due process was followed in securing the Nigeria National Petroleum Company Limited (NNPCL) in the $3 Billion Afrexim bank Loan. The $3 billion loan deal, which was signed in Cairo a...

Nigeria Loses N34.1bn As Oil Firms Flare 12.7 mscf   Despite Nigeria’s dwindling revenue, oil and gas companies operating in the country flared 12.7 million standard cubic feet (mscf) of gas in July 2023, according to the latest data from the National Oil Spill Detection and...

NSIA Commits $500m To Domestic Infrastructure   The Managing Director & Chief Executive Office, Nigeria Sovereign Investment Authority (NSIA), Mr Aminu Umar-Sadiq, yesterday disclosed that the Authority has committed $500 million to domestic infrastructure, whilst also enabling third party investments of over $1 billion. He said this...

CBN Loan To Manufacturer, Power Firms Soars To N5.6trn   The Central Bank of Nigeria (CBN) intervention in the power, manufacturing and aviation sectors have risen to N5.6tn in three years. The soft loans were advanced amid the continued and varied challenges facing the key sectors of...

CBN Releases N38bn Loans To Mortgage Banks   The Central Bank of Nigeria (CBN) disbursed loans and advances worth N37.6bn to mortgage banks in 2022; the audited financial statement of the apex bank has shown. The mortgage banks that received the loans from the CBN include the...