Access Holdings Plc, the parent company of Access Bank Plc, has announced a series of initiatives aimed at empowering small businesses across Africa and enhancing intra-African trade. During a recent media roundtable, the leadership team, including Acting GCEO Ms. Bolaji Agbede, and Group Managing Director/CEO, Roosevelt Ogbonna, shared insights on the company’s strategic priorities for …read more →
Infrastructure Financing
Solid Minerals Ministry Probes Segilola Taxation Dispute
The Ministry of Solid Minerals Development said it is probing the claims and counter-claims of Osun State Government and Thor Explorations Limited, owners of the Segilola Resources Operating Limited over taxation and operational matters. The Minister of Solid Minerals Development, Dr. Dele Alake announced on Friday that a fact-finding team has been set up to …read more →
FG Begins Naira-for-Crude Sale with Dangote Refinery
The Minister of Finance, Wale Edun, has announced that the Nigerian government has begun the Naira-for-crude sale deal with Dangote Refinery from October 1, 2024. The minister disclosed this in a statement released on the official X account of the Ministry of Finance on Saturday. According to Edun, the commencement was in line with in …read more →
Bayelsa Govt Approves N61bn Variation on Nembe-Brass Road Project
The Bayelsa State Executive Council has approved N61billion as variation cost on the Nembe-Brass road project. Governor Diri, who disclosed this on Friday during an inspection of the project, said the council at its meeting on Wednesday approved a review of the construction cost, bringing it to N115billion.Twenty of the 21km of the first phase …read more →
African Oil Producing Countries Raise $5bn Capital for Abuja-Based Energy Bank
African oil-producing nations planning to launch a $5 billion energy bank next year in Abuja have already secured 45 per cent of the required startup capital. The bank aims to address the funding gap created by traditional investors shifting their focus from crude oil to low-carbon energy. According to Omar Farouk Ibrahim, Secretary General of the African …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 →
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 →
Tinubu Flags off Lagos-Calabar N15trn Highway Project
President Bola Tinubu, on Sunday in Lagos, flagged off the construction of the 700km Lagos-Calabar Coastal Highway, stating that the project would revolutionize transportation in Nigeria and bolster the unique economic strength of each zone. Tinubu who cut the tape at exactly 6:03pm in Lagos was flanked by Minister of Works, Dave Umahi, Senate President …read more →