Banking and Finance Economy Infrastructure Infrastructure Financing News & Reports Technology Telecom

Digital Sector: FG Gets $500m for Local Funding – Minister

Communications and Digital Economy Minister, Dr. Bosun Tijani, has disclosed that the Federal Government has secured a $500 billion loan for a local funding programme. This initiative, he said, is aimed at boosting innovation and entrepreneurship within the country’s digital sector. The minister, who stated this at a dinner Friday organised in his honour in …read more →

Banking and Finance Economy ENERGY Infrastructure Financing News & Reports

FCMB Offers N10 Million Clean Energy Loan to Households and Small Businesses

Nigerian households and small businesses looking to acquire solar panels, batteries, inverters, and other green energy equipment now have access to as much as N10 million to buy these assets through the First City Monument Bank (FCMB) Energy Finance Loan. The loan is designed to help homes and small businesses like hospitals, schools, restaurants, bars, …read more →

AFRICAReports ENERGY Infrastructure Infrastructure Financing News & Reports Photo News

MOFI May Sell State Infrastructure Firms, IPOS to Strategic Investors

The Ministry of Finance Incorporated, MOFI is considering selling stakes in 20 state-run companies in a bid to raise funds and improve governance at the entities. The Chief Executive Officer of the Ministry of Finance Incorporated, MOFI, Armstrong Takang, said that the Nigerian National Petroleum Company Limited, NNPC, is among the firms the government may …read more →

Banking and Finance Economy Infrastructure Infrastructure Financing News & Reports

NGX facilitates FG’s Infrastructure Drive, Admits DMO’s N130bn Sukuk

Nigerian Exchange Limited (NGX) has announced the listing of the Federal Government’s N130 billion Sovereign Sukuk through the Debt Management Office (DMO) on its platform. The 10-year 15.64% Ijara Sukuk due 2032 was listed on NGX Thursday, 3 August 2023. According to DMO, the Sovereign Sukuk opened for subscription in November 2022 with an initial …read more →

Infrastructure Infrastructure Financing News & Reports Roads

FG Approves Infrastructure Support Fund for States

President Bola Tinubu has approved the establishment of Infrastructure Support Fund (ISF) for states as part of measures to cushion the effects of the petrol subsidy removal on the Nigerians. A statement by Mr Dele Alake, Special Adviser to the President on Special Duties,  Communications, and Strategy, said the approval was disclosed at the monthly …read more →

Banking and Finance Economy Infrastructure Financing News & Reports Telecom Trade and Investments

Telecoms Investments Hit $76bn, 5G Subscriptions Now 60,000 ­­— NCC

Total investments into the telecommunication sector rose to $75.6bn as of the end of 2021, the Executive Vice Chairman of the Nigerian Communications Commission, Prof. Umar Danbatta, has disclosed. According to him, this comprises foreign direct investment and local investment as of 2021. He stated this at an interactive session with stakeholders in the communications …read more →

Banking and Finance ENERGY Infrastructure Financing News & Analysis WORLDReport

Tinubu Seeks Assistance of Bank of America, Others for Nigerian Gas

President Bola Ahmed Tinubu has sought the assistance of the Bank of America and other willing financing institutions to help Nigeria in various capacities, such as in partnering to ensure Nigerian gas competes favourably in the global market, as a viable source of alternative revenue The President stated made the request while receiving officials of …read more →

Banking and Finance Infrastructure Financing News & Analysis

Lagos Raises N135 bn Hybrid Bonds to Finance Key Infrastructure Projects

Lagos State has announced that it has successfully issued N134.81 billion in bonds from the nation’s capital market in a bid to finance the delivery of key infrastructure projects. The bonds issued consist of N115 billion in 10-year bonds and N19.815 billion raised through Ijarah Lease Sukuk bonds. The 10-year bonds, which were the fourth …read more →

Infrastructure Infrastructure Financing News & Reports Railway Roads Urban Renewal

Lagos to Spend N482 bn on Infrastructure Projects in 2023

Lagos Governor Babajide Sanwo-Olu on Friday signed the State’s N1.77 trillion “Budget of Continuity” into law to consolidate the development strides of his administration and satisfy the yearnings of the residents.  The Governor said the fiscal document not only “aggressively” focus on completing ongoing capital projects, but it would also expand intervention programmes and intensify …read more →

Infrastructure Financing News & Reports Roads

Works Ministry Gets N110b Sukuk Funding for Roads

The Federal Ministry of Works and Housing has received a cheque of N110 billion SUKUK fund to build roads in six geo-political zones. A statement by Director of Press and Public Relations, Lere-Adams Blessing, said two ministries benefited from N130 billion 2022 SUKUK fund: Federal Ministry of Works and Housing and Federal Capital Territory, with …read more →