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 →

Economy ENERGY Infrastructure Infrastructure Financing News & Reports WORLDReport

Dangote Refinery Production Could Accelerate Nigeria’s Economic Recovery – IMF

The International Monetary Fund, IMF, has noted that the non-oil sector of the Nigerian economy could be stronger, benefit from its recent growth momentum, and higher production from the new Dangote Refinery, and its supportive credit policies. The IMF’s Executive Board 2021 Article IV Consultation with Nigeria released recently, said that Nigeria’s ratification of the …read more →

Banking and Finance Infrastructure Financing News & Reports

FCTA to Borrow N200bn for Infrastructure Development

The Federal Capital Territory Administration (FCTA) has stated that it would have to borrow in the region of N200 billion to fund infrastructure development, such as roads and water projects across the Territory. FCT Minister, Malam Muhammad Musa Bello, made this known in Abuja during the inauguration of a Technical Committee on the proposed FCT …read more →

Banking and Finance Infrastructure Infrastructure Financing News & Reports

Sanwo-Olu: Lagos Will Explore NGX To Fund Infrastructure Projects

The Governor of Lagos State, Babajide Sanwo-Olu has said that the State will explore capital raising via Nigerian Exchange Limited (NGX) to fund infrastructure projects through equities, green, Sukuk, and Blue Bonds. Sanwo-Olu further expressed confidence in the opportunities available in the capital market and indicated an interest in deepening synergies between the State and …read more →

Infrastructure Infrastructure Financing News & Reports

NUPENG Prepares for Strike Action Over N621bn Road Fund

The Nigeria Union of Petroleum and Natural Gas (NUPENG) workers has declared its support for the imminent industrial action by the Petroleum Tanker Drivers branch of NUPENG, stating that it has started mobilising members of the union for the sudden strike. This was disclosed in a statement jointly signed on Sunday by the President, Mr …read more →

AFRICAReports ENERGY Health Infrastructure Infrastructure Financing News & Reports Roads Transportation WORLDReport

EU Plans $22.7 billion Transport Network, Other Projects Across Africa

The European Union (EU) is working on a €20 billion ($22.7 billion) financing package to support African transport networks, as well as energy, digital, education and health projects to counter China’s reach in the continent. Member states, a Bloomberg report disclosed, however, have yet to commit to financing the infrastructure plans, according to officials familiar …read more →

Infrastructure Infrastructure Financing News & Reports Roads

FG Commences Work on 21 Roads Earmarked for NNPC’s N621bn Funds

The Federal Government has begun work on the 21 roads for which N621 billion was recently earmarked by the Nigerian National Petroleum Company (NNPC) under the Tax Credit Scheme (TCS). The implementation of the scheme coincided with a statement by the Ministry of Works led by Mr. Babatunde Fashola, that contrary to the position of …read more →

Infrastructure Infrastructure Financing News & Reports Power

Power: NERC Laments Infrastructure Deficits, Wide Metering Gap

The Nigerian Electricity Regulatory Commission, NERC, Friday, lamented that the issues of infrastructure deficits and challenges of metering gap have compounded its woe of addressing the problems in the power sector. The Chairman of NERC, Mr. Sanusi Garba, who made the remarks during the signing of Memorandum of Understanding, MoU, with the Federal Competition and …read more →

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

With National Policy on 5G, ABSA Sees Opportunity for Economic Growth in Nigeria

Given the success recorded last December in the auction of the two slots in the 3.5GHz spectrum, in preparation for 5G technology rollout in Nigeria, coupled with the commitment of the federal government on 5G rollout this month, Absa, a leading pan-African Corporate and Investment Bank has said it is fully aligned with government’s aspiration …read more →