The African Development Bank (AfDB), has begun developing a Public-Private Partnership (PPP) framework to strengthen support for PPPs and enhance economic and social infrastructure development in the continent. According to a statement from AfDB, representatives of the bank, Development Finance Institutions (DFIs), private sector, and professional associations made this known in a virtual meeting hosted …read more →
Infrastructure Financing
CBN Creates Intervention Fund for Solar Energy Infrastructure Development
The Central Bank of Nigeria (CBN) said it has introduced an intervention fund to support the growth of solar energy development in the country in line with government policy to boost power supply. The regulatory bank in its guidelines on the Solar Connection Intervention Facility said that the move was to complement the Federal government’s effort …read more →
Experts Want Insurance Industry to Help Boost Infrastructure Development
Stakeholders in the insurance industry have attributed the lull in the economy to infrastructure deficits, explaining that the ecosystem calls for a deliberate effort to close the existing gap between the sector’s contribution and need for economic growth. The stakeholders, agreed that there is a link existing among underwriting activities, infrastructure development and economic growth. …read more →
Experts seek infrastructure development for robust insurance, economy growth
Stakeholders in the insurance industry have attributed the lull in the economy to infrastructure deficits, explaining that the ecosystem calls for a deliberate effort to close the existing gap between the sector’s contribution and need for economic growth. The stakeholders, agreed that there is a link existing among underwriting activities, infrastructure development and economic growth. …read more →
We Take Loans to Develop Key Infrastructure – Makinde as Oyo adopts alternative project funding approach
Oyo State Governor, Engineer Seyi Makinde, has explained that his administration’s determination to fix the huge infrastructure deficit in the state and get the state on the right track for economic growth was behind the move to secure loans that target key infrastructure. In a statement released by his Chief Press Secretary, Mr. Taiwo Adisa, …read more →
N10 Bn Rights Issue is Transcorp Hotel’s Confidence Boosting Strategy Post-Covid
Transcorp Hotels, a subsidiary of Transcorp Plc has received regulatory approval to raise N10 billion through rights issue to its shareholders. The hospitality company, which is currently building a new hotel structure in Ikoyi area of Lagos is proposing to issue 2.66 billion ordinary shares of 50 kobo each at N3.76 per share to prequalified …read more →
Nigeria Approves €18.94 mn Counterpart Funding for Siemens Upgrade of its Power Infrastructure
President Muhammadu Buhari has approved €18.94 million counterpart funding for a deal that will see Siemens AG upgrade the nation’s dilapidated power infrastructure. Nigeria, Africa’s most populous nation, last year contracted the German engineering company to rehabilitate and expand its electricity grid. The president granted “anticipatory approval” for €18.94 million, or 15 percent of the …read more →
Nigeria Approves Establishment of Infrastructure Development Company
The Central Bank of Nigeria (CBN) is to establish an Infrastructure Development Company, its governor, Godwin Emefiele, disclosed on Monday in Abuja. Mr Emefiele, who spoke during the online media briefing at the end of the 274th meeting of the Monetary Policy Committee MPC) said the company would leverage on local and international funds to rebuild critical …read more →
Improved Gold Mining Operations to Generate 250,000 Jobs, $500m Annually In Royalties, Says Buhari
President Muhammadu Buhari has said that improved gold mining operations in the country will generate no fewer than 250,000 jobs and over $500m annually in royalties and taxes to the Federal Government. In a statement by the Special Adviser to the President on Media & Publicity, Femi Adesina, the president said the gold mining operations …read more →
Food Security: AfDB Projects Have improved 9 Million Lives – Report
African Development Bank (AfDB) has said that the Water Mobilisation Project to Enhance Food Security in Maradi, Tahoua and Zinder Regions (PMERSA-MTZ), implemented between 2011 and 2018 in Niger, has sustainably increased agricultural production and productivity and increased food security for nearly nine million residents of this Sahelian country. In a report published by the …read more →