Banking and Finance ENERGY News & Reports

Local oil refiners seek CBN, NNPC support to grow production

The Oil Refiners Association of Nigeria (CORAN), the umbrella body of local refiners have appealed to the Central Bank of Nigeria (CBN) to create a crude refinery intervention fund similar to the agricultural credit fund or the pharmaceutical fund domiciled at the apex bank to drive effective business operations in the country. They have also …read more →

AFRICAReports Environment News & Reports WORLDReport

AfDB Says 7 African Nations Making Progress on Climate Change Actions

The African Development Bank and the Global Green Growth Institute (GGGI have launched a report analysing the readiness of seven countries – Morocco, Tunisia, Kenya, Rwanda, Senegal, Gabon and Mozambique – to drive green growth. The joint report was launched on the sidelines of Africa Climate Week, in Libreville, Gabon. It assessed the status and …read more →

ENERGY News & Analysis News & Reports Power Trade and Investments WORLDReport

Nigeria Could Play A Key Role in Europe’s Energy Transition

Nigeria is loaded with natural resources that could help Europe in its energy transition. Europe has the necessary elements to build out the as-yet underdeveloped Nigerian energy sector. There are many challenges on the road to a successful partnership, the broadest of which is the fragile political stability of Nigeria.  Nigeria could be emerging as …read more →

Infrastructure News & Reports Power

Electricity: Transformers from €63m Siemens deal to arrive — FG

The first set of mega transformers from the €63 million Siemens deal has d in Nigeria, the Federal Government revealed. The Siemens deal which is expected to significantly improve the country’s electricity distribution capacity, was approved by the Federal Executive Council in December, 2021. A statement by the Special Adviser, Media, to the Minister of …read more →

News & Reports Technology Telecom

Huawei Technologies Co Unveils Mate 50 Series’ Satellite Communication Phone …. Apple responds with iPhone 14

Huawei Technologies Co unveiled its much-anticipated Mate 50 series smartphones on Tuesday that support satellite communication, becoming the first smartphone maker to roll out such a feature in the consumer market. The gadgets, supported by China’s Beidou Satellite Navigation System, have an emergency mode that works independently of battery power and allows users to send …read more →

AFRICAReports Economy Infrastructure Maritime News & Reports Trade and Investments Transportation

First Ship Docks at $2bn Lekki Deep Sea Port

The Lekki Deep Sea Port in Lagos has received the first ship at its dock signaling a new era in port decongestion efforts in Nigeria. The Managing Director, Nigeria Ports Authority, Mohammed Bello-Koko, who received the marine vessel “Zhen Hua 28,” a heavy lift carrier, stated that the Lekki Deep Seaport, when operational, would reduce …read more →

AFRICAReports Banking and Finance News & Reports

Access Bank Promotes 800 Employees as it Transitions to Holdco Structure

Access Bank PLC has announced the promotion of 800 employees following a transparent and robust performance management review in line with global best practices.  This announcement comes as the financial giant shores up its transition to a Holding Company (Holdco) starting May 1st, 2022. The Bank’s consistent growth over the years has been due to …read more →

AFRICAReports Economy Infrastructure News & Reports

Peer Review: AU Rates Nigeria High in Infrastructure, Agric Revolution

The African Union Development Agency-New Partnership for Africa’s Development (AUDA-NEPAD) says Nigeria recorded tremendous successes in infrastructure development and agricultural revolution during the African Peer Review Mechanism (APRM). Princess Gloria Akobundu, Chief Executive Officer of AUDA-NEPAD, said this at a news conference in Abuja on Thursday. Akobundu said that the country also recorded successes in …read more →

Banking and Finance ENERGY Infrastructure Infrastructure Financing News & Reports Power

PIDG’s Emerging Africa Infrastructure Fund Anchors $420mn Bond Issuance

Private Infrastructure Development Group (PIDG) company, the Emerging Africa Infrastructure Fund (EAIF) was an anchor investor in a recent successful bond issue by African telecommunications and digital company Axian Telecom. It raised US$420 million (€369.31 million). EAIF has invested US$20 million (€17.59 million) in the bond, scaled back from an original commitment of up to …read more →