Agboyi-Ketu Local Council Development Area (LCDA) of Lagos State came alive on Friday, as Governor Babajide Sanwo-Olu inaugurated a twin housing project in the council. The Governor formally commissioned 170-unit Raymond Estate and Sterling Heights delivered by the council chairman, Hon. Dele Oshinowo, to regenerate and urbanise Ajelogo — a notorious slum situated in the heart of …read more →
Month: September 2024
Regfyl Raises $1.1 Million to Expand Unified Compliance Platform Across Africa
Nigerian startup Regfyl has raised $1.1 million in pre-seed funding, to enhance its platform aimed at simplifying compliance for businesses. This funding round, led by Rally Cap alongside contributions from Techstars, DCG, Musha Ventures, Africa Fintech Collective, and angel investors, will allow the company to expand its workforce, particularly in sales, engineering, and customer support. Additionally, …read more →
Access Holdings Grows Revenue to ₦2.2 Trillion in H1 2024
Access Holdings Plc, a leading global financial institution, announced its half-year audited financial results for the period ended 30 June 2024. The results underscore the company’s continued resilience, focus on delivering sustainable performance, and commitment to creating long-term value for shareholders. Access Holdings Plc demonstrated strong performance across all key balance sheet indicators and maintained …read more →
Infrastructure Revolution in Yoruba Land Has Started Says Adeleke …Commends Makinde’s Initiatives
Osun State Governor, Ademola Adeleke, has described Oyo State Governor as a man of vision and a passionate agent of change commending the Governor’s persistence and drive to leave a legacy of infrastructure revolution and innovation to the good people of Oyo State. He said this during the groundbreaking ceremony of the upgraded Samuel Ladoke …read more →
NERC Orders DisCos to Procure 398MW Embedded Power
The Nigerian Electricity Regulatory Commission has mandated electricity Distribution Companies to procure a minimum of 398MW of embedded generation to enhance the reliability of power supply across the country. Embedded generation (also known as distributed generation or distributed energy resources) refers to electricity generation or storage plants connected to a distribution network rather than the …read more →
NNPC Ltd/Chevron JV Concludes Conversion of Assets into PIA Terms
…As Partners Eye JV’s 165,000 bopd Oil Production Target by Dec 2024 In line with the Petroleum Industry Act (PIA) 2021 provisions of transiting assets from the Petroleum Profit Tax (PPT) into PIA terms, the NNPC Ltd and its Joint Venture (JV) partner, Chevron Nigeria Ltd (CNL), have concluded the conversion of five of its …read more →
FG Plans To Spend $800m On Construction of Power Substations, Distribution Lines
The Federal Government is planning more investment in the distribution segment of the power sector. This investment will be in the region of $ 800 million. The Minister of Power, Adebayo Adelabu, disclosed this in far-away China when he visited TBEA Southern Power Transmission and Distribution Industry in Beijing, China. The projects which come under …read more →
Bidders for Warri, Kaduna Refineries must be Debt-free – NNPC
The Nigerian National Petroleum Company Limited has set stringent financial requirements for companies vying to operate and maintain the Warri Refining and Petrochemical Company and Kaduna Refining and Petrochemical Company. In the Expression of Interest document released by NNPC on Saturday, only firms with a minimum average annual turnover of $2bn will qualify for the …read more →
NNPC Commences LNG Supply to Japan, China
The Nigerian National Petroleum Company Limited (NNPC Ltd) has commenced the shipment of Liquefied Natural Gas (LNG) cargoes to Japan and China on a Delivered Ex-Ship (DES) basis in line with its strategic vision to be a dynamic and reliable global energy supplier of choice. NNPC Ltd achieved the milestone through the collaboration of two …read more →
AFC to Support Africa’s Largest Methanol Plant in Akwa Ibom
Africa Finance Corporation (AFC) the continent’s leading infrastructure solutions provider, is arranging a project development facility to support Africa’s largest gas-to-methanol plant, to significantly reduce CO2 emissions by offsetting flaring of natural gas and turning it instead into a valuable chemical for solvents, paints, plastics and car parts. AFC has committed to the development stage …read more →