AFRICAReports Infrastructure News & Reports Roads

Lagos-Calabar Coastal Highway: NASS Assures Ministry of Works of Adequate Budgetary Provision

The National Assembly has assured the Ministry of Works of adequate budgetary provision for the completion of the Lagos-Calabar Coastal Highway which has a contract sum of N1.0 trillion. The Chairman of the Joint National Assembly Committee on Works, Sen. Barinada Mpigi, gave the assurance when he led members of the joint National Assembly Committee …read more →

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Lagos-Calabar Coastal Highway: NASS Assures Ministry of Works of Adequate Budgetary Provision

The National Assembly has assured the Ministry of Works of adequate budgetary provision for the completion of the Lagos-Calabar Coastal Highway which has a contract sum of N1.0 trillion. The Chairman of the Joint National Assembly Committee on Works, Sen. Barinada Mpigi, gave the assurance when he led members of the joint National Assembly Committee …read more →

AFRICAReports Banking and Finance Economy News & Reports Trade and Investments WORLDReport

Access Holdings Announces US$1.5 Billion Capital Raising Programme

Access Holdings Plc, one of Africa’s leading financial groups, has unveiled plans to establish a Capital Raising Programme of up to US$1,500,000,000.00 (One Billion, Five Hundred Million United States Dollars) or its equivalent (‘the Programme’). The Programme aims to enhance the Group’s financial strength through the issuance of various financial instruments such as ordinary shares, …read more →

AFRICAReports News & Reports Trade and Investments WORLDReport

Access Holdings Plc Reports Strong FY2023 Financial Performance, Grows PBT by 335%, Earnings to N2.59 Trillion

Access Holdings Plc (“The Group”) has announced its audited Consolidated and Separate Financial Statements for the year ended December 31, 2023. In the year under review, the Group recorded a robust growth in its Profits Before Tax, posting a healthy N729 billion, representing 335% year-on-year (YoY) increase from 2022. Access Holdings’ Gross Earnings also surged …read more →

AFRICAReports Banking and Finance Economy News & Reports WORLDReport

Access Bank PLC and KCB Group PLC Sign Binding Offer on Acquisition of National Bank of Kenya (NBK)

Access Bank PLC and KCB Group PLC (“KCB”) have today signed a binding agreement to acquire 100 percent shareholding in National Bank of Kenya Limited (“NBK”) from KCB. The successful completion of the transaction is subject to conditions that are customary for transactions of this nature including receipt all regulatory approvals from, amongst others, the …read more →

AFRICAReports Banking and Finance Economy News & Reports WORLDReport

Access Holdings Plc Announces the Return of Aig-Imoukhuede, As Holdco Chairman

Access Holdings Plc (‘the Holdco’), has announced the return of Mr. Aigboje Aig-Imoukhuede, CFR as its Non-Executive Chairman. Mr. Aig-Imoukhuede, CFR replaces Mr. Abubakar Jimoh, the erstwhile Chairman of the HoldCo who remains on the Board as an Independent Non-Executive Director. This visionary and accomplished leader is bringing an outstanding record of accomplishments, wealth of …read more →

AFRICAReports Infrastructure News & Reports Power

TCN Successfully Restores National Grid Following Partial System Failure

The Transmission Company of Nigeria (TCN) said it has completed restoration of the national grid after a partial system failure at approximately 11:21 a.m. on Sunday, in a statement late Sunday by its General Manager of Public Affairs, Ndidi Mbah said. Mbah highlighted that immediate efforts were undertaken by TCN to restore the affected section …read more →

Banking and Finance Economy News & Reports Trade and Investments

Nigeria’s Inflation Rate Will Drop To 21% In 2024, Says Cardoso

Amid the rising prices of foodstuff and other commodities in the market, the Governor of the Central Bank of Nigeria (CBN), Olayemi Cardoso, has assured Nigerians that the nation’s inflation rate will drop. Nigeria’s inflation has been on the rise for 11 consecutive months, reaching its peak in December 2023, according to the National Bureau …read more →

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Shell Agrees to Develop Nigeria Gas Field for Dangote Fertiliser

(Reuters) – Shell Plc has made a final investment decision to build a gas supply facility in Nigeria to feed a fertiliser plant owned by Africa’s richest man Aliko Dangote, the company said in a statement. The new facility will supply 100 million standard cubic feet of gas per day from the Iseni field to …read more →

Infrastructure News & Reports Security Infrastructure Technology

NASENI, NPF Partner to Enhance Operational Efficiency

In a significant move to enhance operational efficiency, the National Agency for Science and Engineering Infrastructure (NASENI) has pledged its commitment to refurbish and modernise redundant operational assets of the Nigerian Police Force (NPF). This initiative encompasses the renovation of vehicles, helicopters, as well as confiscated and forfeited vehicles, aiming to boost the force’s operational …read more →