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
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 →
FG Commences Second Phase of NNPC Road Infrastructure Tax Credit Scheme
The Federal Government has stated that the approval of phase two of the Nigerian National Petroleum Company Limited (NNPC) Road Infrastructure Tax Credit Scheme will ensure the sustainability of funding of critical infrastructure in Nigeria. The Minister of Works and Housing, Babatunde Fashola (SAN), who disclosed this in Abuja, noted that unlike in the past …read more →
Lagos Names Preferred Bidder for 4th Mainland Bridge
The Lagos State Government on Thursday announced Messrs. CCECC-CRCCIG Consortium as the preferred bidder for the proposed Fourth Mainland bridge project. The Special Adviser to the Governor on Public Private Partnerships (PPP), Mr Ope George said at a briefing at the PPP Office in Ikeja that the project, which is a proposed PPP transport infrastructure …read more →
Nigeria-Morocco Gas Pipeline to Receive $25 Bln in Funding by 2023, Says NNPC
The Nigeria-Morocco Gas Pipeline is set to receive a total investment of $25 billion in 2023, the Chief Executive Officer of the Nigerian National Petroleum Company Limited (NNPC), Mele Kyari has revealed. Kyari said in a report by Bloomberg that discussions for the financing of the energy megaproject are still ongoing, noting that a final …read more →
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 →
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 →
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 →
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 →
