The competitiveness of any economy in the modern world has correlation with its infrastructural state. The coveted knowledge economy which all nations now struggle to embrace is premised on hard infrastructure that propels real growth and impact lives. In this interview with the Director General,Engr. Chidi K.C. Izuwah talks about the giant strides Nigeria has …read more →
Economy
Ondo State Mega Industrial Hub to Create jobs
President Muhammadu Buhari has commissioned the Ondo-Linyi industrial hub. At a ceremony in the premises of the hub, the President congratulated the Government and people of Ondo State on the remarkable achievement. ”I am impressed with what is on ground here and anticipate on the positive impact this will have on the people of this …read more →
Financial Inclusion: Out-Dated Systems and Payment Processors Are Major Obstacles
The African Development Bank report, “Financial Inclusion in Africa,” states that the leading prohibitive factor in more robust financial infrastructure is inadequate access to financial services. Less than one adult out of four in Africa have access to an account at a formal financial institution. Broadening access to financial services will mobilize greater household savings, …read more →
FG, Bankers’ Committee to Partner on Infrastructure Funding
The Central Bank of Nigeria (CBN) and banks, under the aegis of the Bankers’ Committee, have begun talks with the federal government to finance four major roads across Nigeria. The move, according to the Bankers’ Committee, would reduce Nigeria’s infrastructural deficit. The committee, which said this in Lagos that the initiative would be beneficial to …read more →
Anyaoku Wants FG to Use Capital Market to Fund Infrastructure
Worried by the high level of infrastructure deficit and inadequate government resources, former Secretary General of the Commonwealth, Chief Emeka Anyaoku has joined stakeholders calling on the federal government to utilise the Nigeria’s capital market to develop the economy. Addressing the Principal Officers of the Chartered Institute of Stockbrokers (CIS) during courtesy call to him …read more →
NNPC to Double Domestic Gas Production to 2.2 Billion SCF
The Nigerian National Petroleum Corporation (NNPC) has said that it plans to double domestic gas production capacity to 2.2 billion standard cubic feet from 1.1 BSCF as it works towards the delivery of the Escravos-Lagos Pipeline System (ELPS) II. Also, as part of strategies to expand domestic gas production, the NNPC would commence the construction …read more →
Dangote Refinery to employ over 70,000 workers, says CBN
Central Bank of Nigeria (CBN) Governor Godwin Emefiele has said Dangote Refinery will employ over 70,000 Nigerians when it begins operation. He said that the various policies of the Federal Government will ultimately reduce unemployment in the country. The apex bank’s governor, who addressed reporters after touring the refinery at the weekend, said the Dangote …read more →
Dangote Group to Commence Exploration on Oil Well Purchased From Royal Dutch Shell Soon
Dangote Industries Limited, is set to start oil production from two Oil Mining Lease (OML) 71 and 72 assets purchased from Royal Dutch Shell in July last year as part of bids by the group to expand its operations. The conglomerate also plans to ramp up crude production from the two oil well to around …read more →
Coronavirus hits global demand for LNG as buyers cancel orders in US
A buyer of liquefied natural gas has cancelled two cargoes from Cheniere Energy Inc., the biggest U.S. exporter, as a global glut pummels prices for the fuel and threatens to shut a key outlet for shale production. Spanish utility owner Naturgy Energy Group SA has decided not to take delivery of two shipments from Cheniere, …read more →
Nigeria Says Two Gold Refineries to Produce Bullion for Export Underway
The Federal Government said it has licensed two gold refinery firms to produce the metal for export and for the central bank to hold in its reserves, the mines minister said on Wednesday. The Minister of Mines and Steel, Olamilekan Adegbite, said that the Central Bank of Nigeria (CBN) would be the main off-taker of …read more →