Infrastructure Infrastructure Financing News & Reports Roads

Badagry Expressway Gets N15bn NNPC Tax Credit Boost

The Agbara-Seme border section of Lagos-Badagry expressway project will receive N15 billion of NNPC tax credit fund, Federal Controller of Works in Lagos, Olukayode Popoola, has said. Popoola told the News Agency of Nigeria (NAN) in Lagos on Sunday that the intervention funding would fast track the ongoing reconstruction of the road. NAN reports that …read more →

Infrastructure News & Reports Security Infrastructure

U.S. Urges FG, Telecoms Operators to Prioritise Security Of 5G Network

United States envoy to Nigeria, Mary Beth Leonard, has urged the Federal Government, telecoms operators and network users to prioritise security as preparations have reached an advanced stage to deploy the 5G network. She warned that allowing mistrusted telecommunications service providers to participate in or control 5G network would create risks to national security, critical …read more →

Banking and Finance ENERGY Infrastructure Infrastructure Financing News & Reports

UTM Offshore, Afreximbank sign $2bn MoU for Nigeria’s first floating LNG project

UTM Offshore and the African Export-Import Bank (Afreximbank) have signed an MoU to raise 2 billion dollars for the development of Nigeria’s first Floating Liquefied Natural Gas (FLNG) project. Dr Yahuza Kassim, Principal Consultant for the development of the facility stated in Lagos on Wednesday that the MoU was signed on Tuesday in Abuja. He …read more →

Infrastructure News & Reports Power

NDPHC Awards Owerri Sub-Station to AK-AY Elektrik

The Niger Delta Power Holding Company (NDPHC) Limited has awarded the contract for immediate installation and energizing of the Owerri NIPP 2 x 150MVA and 2 x 60MVA 330/132/33kV Owerri Transmission Sub-station to Messrs. Ak-AY Elektrik. According to a statement from the company’s Media Adviser, ‘Sanya Adejokun, the transformers had been installed more than 10 years ago …read more →

Infrastructure Maritime News & Reports Security Infrastructure

Buhari Commissions NNS Oji, Made-In-Nigeria Vessel

President Muhammadu Buhari Thursday in Lagos commissioned a Seaward Defence Boat (SDB) III, built by the Nigerian Navy. The indigenously constructed SDB, NNS Oji, is the third of its series to be locally built at the Naval Dockyard Limited, Lagos solely by Navy engineers after the successes of NNS Adoni, and NNS Karaduwa, commissioned in …read more →

Infrastructure News & Reports WORLDReport

Elon Musk Wants Biden’s $1 Trillion Infrastructure Bill Scrapped

Taking on US President Joe Biden, Tesla CEO, Elon Musk has said that America does not need his administration’s ambitious $1 trillion infrastructure bill, or any of the government subsidies. Speaking at the Wall Street Journal’s CEO summit late on Monday, Musk said: “We’ve spent so much money. The federal budget deficit is insane. I …read more →

Banking and Finance Infrastructure Financing News & Reports

Infracredit Guarantees Issuance of N20b Infrastructure Bond

InfraCredit, a specialised infrastructure credit guarantee institution, has announced its guarantee of GPC SPV N20 billion 10-year series one senior guaranteed fixed rate infrastructure bonds due 2031 under the N50 billion debt issuance programme. According to a statement by the company, the bond was oversubscribed by 25.3 per cent from nine institutional investors, including the …read more →

Banking and Finance ENERGY Infrastructure Financing News & Reports Power

FG Did Not Takeover Abuja Electricity Disco

The Nigerian Electricity Regulatory Commission (NERC) and Bureau of Public Enterprises (BPE) have said that the action   to appoint   an interim  team  to manage  Abuja Electricity Distribution Company (AEDC)  was  not done  on the directive   from the Federal  Government, but on the basis of legal  processes  arising  from the failure   of the core investor  in …read more →

Infrastructure News & Reports Power

Lafia Transmission Sub-Station Completed, Energised

The Niger Delta Power Holding Company (NDPHC) says the Lafia 2X150 Mega Volt Ampere (MVA) 2X60 /132/33/330 Kilo Volt (kV) Transmission Substation is finally completed and energised. The Technical Adviser (Media), NDPHC, Mr Sanya Adejokun, said this in a statement in Abuja on Monday. Adejokun said that the contract for the multi-billion Naira National Integrated …read more →