The Bureau of Public Enterprises (BPE), is set to submit a proposal to the Federal Government on the need to sell off the nation’s electricity transmission network. According to the bureau Director-General Alex Okoh, the BPE is looking at various strategies to reform the Transmission Company of Nigeria (TCN). The agency will share its proposal …read more →
Month: May 2021
Harnessing AI/ML to Transform Your Mission and Save the World
By Wale Akanbi Chief Technical Officer, Aella Credit The field of Artificial Intelligence (AI) and Machine Learning (ML) is advancing rapidly and the adoption of these technologies across industries in recent years has steadily risen. Unfortunately, the potential of these tools to improve people’s lives and address some of the world’s biggest challenges are barely spoken about across mass …read more →
FG Ready to Privatise 12 Highways
The Federal Government is to officially open a bid for value-added concession under the Highway Development and Management Initiative (HDMI) on 12 highways this week. The 12 highways selected for the pilot scheme include the Benin-Asaba, Abuja-Lokoja, Kano –Katsina, Onitsha-Owerri-Aba, Shagamu-Benin, Abuja-Keffi-Akwanga, Kano-Shuari, Potiskum-Damaturu, Lokoja-Benin, Enugu-Port Harcourt, Ilorin-Jebba, Lagos-Ota-Abeokuta, and Lagos-Badagry-Seme. A statement by the …read more →
Nigerian Banking Credit to Economy Rises 3.74% To N23.53 Trillion in April – CBN
Nigerian banks granted a total of N23.53 trillion credits to the economy as of the end of March 2021, compared with N22.68 trillion at the end of December 2020, the Central Bank of Nigeria (CBN) has said. The gross credit rose 3.74 percent quarter on quarter as the regulatory bank’s policy on loan-to-deposit-ratio continues to influence …read more →
World Bank To Disburse $150 Billion In Loans, Grants To African Nations In Next 5-Year
The World Bank plans to invest about $150 billion in Africa within the next five years towards promoting development on the continent, according to the President of the lender, David Malpass. Malpass, who spoke at the Summit on Financing African Economies, held in Paris, France, said bank is committed to financing development in Africa He …read more →
Spending All Revenue on Infrastructure for The Next 100 years Is the Way Out – Agusto
The Federal Government would need to spend the entire 2021 budget of N13.58tn continuously over the next century on capital expenditure to meet the target. Agusto & Co., a rating agency and research firm, has said Nigeria has a huge infrastructural deficit and requires up to $3tn over the next 30 years to bridge this …read more →
Osinbajo Wades into Dispute Between CBN, Governors Over Budget Support Repayment
Vice-President Yemi Osinbajo has waded into the dispute between governors and the Central Bank of Nigeria (CBN) over repayment dates for the N614 billion budget support facility extended to 35 states. In 2017, the federal government had extended the conditional facility to states through the CBN to help cushion the impact of dwindling resources and …read more →
Nigeria To Raise $3 Billion In Eurobond To Fund Budget Deficits
Nigeria plans to issue $3 billion or more in Eurobonds as international capital markets (ICM) open up and interest rates decline, the Debt Management Office (DMO) said on Tuesday. Nigeria had planned a Eurobond issue early last year after its sixth sale in 2018, but it decided to defer the 2020 sale due to market …read more →
Naira Devaluation will Boost Nigeria’s Oil Revenue, Unlock External Funding – Stanchart Chief
The devaluation of the naira will boost oil-related earnings in naira term and enhance Nigeria’s ability to borrow from the international capital market. According to Razia Khan, Standard Chartered’s Chief Economist for Africa, the devaluation of the naira to N410 to the dollar will “provide a boost to oil-related earnings in local currency terms, but …read more →