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...
Investors Gain N422bn in Three Days Trading - NGX
The Nigerian Exchange Limited, NGX, has sustained bullish trend yesterday as investors gained N422 billion from the three days trading with market capitalisation surging to N35.844 trillion from N35.422 trillion closed last week Friday.
In similar manner,...
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...
In July, Lending, Savings Rates Hit 22.14% – Report
The gap between the maximum lending rate and savings deposit rate in the banking sector widened by 22.14 per cent in July.
Banks savings deposit rate rose slightly to 5.24 per cent in July from 5.18 per...
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...
