In Four Years, We Augmented LG Allocations With N33.25bn – Ogun Govt
The Ogun State Government has said it augmented councils’ allocations with N33.25 billion in the last four years to enable them to meet their obligations.
The government maintained that it does not interfere with...
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...
