ENERGY Infrastructure News & Reports WORLDReport

The Economist Blames Shortage of Natural Gas and Wind for Hike in Price of Electricity in Europe

In Europe the cost of electricity is soaring. Prices had been rising steadily this year, as economic recoveries got under way. But they have spiked in the past few weeks. Since the start of September, wholesale power prices in Germany and France have climbed by 36% and 48%, respectively. They are now hovering at around …read more →

Infrastructure News & Reports Photo News Transportation

We’ll Complete Red, Blue Line Train Projects As Promised – Sanwo-Olu

The 2022 deadline set for the completion of the Lagos Rail Mass Transit (LRMT) projects being undertaken by the Lagos State Government remains sacrosanct, Governor Babajide Sanwo-Olu promised on Saturday. The Governor defied the rain for a physical assessment of the progress made in the construction of both Blue and Red Lines, inspecting the rail …read more →

Infrastructure News & Reports

Osinbajo Wants Nigerian Judiciary to Integrate Digital Technology in Court Infrastructure

The Nigerian judiciary must embrace technology and innovation for the evolution of the profession and national development, Vice President Yemi Osinbajo, has said. Osinbajo said this in a pre-recorded speech on Monday as guest speaker at the 2021 Annual Law Week of the Nigerian Bar Association (NBA) Lagos Branch, themed ‘Disruption, Innovation and The Bar.’ He said the judiciary must …read more →

Infrastructure News & Reports Power

Consumers Get 98,000 Free Meters from Ikeja Electric

Ikeja Electric Plc says it has installed prepaid meters in the premises of 98,000 customers under the National Mass Metering Programme (NMMP) of the Federal Government. Head, Corporate Communications, Ikeja Electric made the declaration when he spoke with journalists on Wednesday in Ikeja. He said that the figure showed that the company had covered more …read more →

AFRICAReports Infrastructure Infrastructure Financing News & Reports Railway Transportation

Nigeria To Borrow from Credit Suisse, Standard Chartered to Fund Next Stage of Railway Projects

Nigeria is negotiating a raft of loans from Chinese and European lenders to fund railway projects in the country, transportation minister Rotimi Amaechi said. Amaechi said Standard Chartered had agreed to fund $3.02 billion for the ongoing Port Harcourt-to-Maiduguri railway project. He had previously told Bloomberg that the government was in talks with Standard Chartered …read more →

ENERGY Infrastructure News & Reports

PIB: Local Refineries to Pay for Crude Oil in Naira

With the passage of the much-awaited Petroleum Industry Bill (PIB) by both chambers of the National Assembly last week, local refineries would be able to purchase Nigerian crude in Naira. All private refining plants will have access to local crude oil by paying naira instead of foreign exchange as before. Dangote refinery is nearing completion and …read more →

AFRICAReports Infrastructure Infrastructure Financing News & Reports

Ghana to Fund Projects, Refinance Debt With $2 Billion Social Bonds

Ghana is planning to issue green and social bonds of up to $2 billion by November, which would make it the first African country to sell debt to fund development programs. The West African second-biggest economy, which is planning to borrow up to $5 billion on international markets this year, would use the proceeds from these sustainable bonds to refinance …read more →

Infrastructure News & Reports WORLDReport

New Zealand Government to Invest $700m in Infrastructure for Housing

The New Zealand government has announced that US$700m of funding will be made available to build infrastructure needed to speed up housing developments. The money will be spent on accelerating projects on “build-ready land” to produce results in the shortest possible time. The investment is part of the larger $2.7bn Housing Acceleration Fund (HAF), which …read more →

Infrastructure News & Reports Photo News Technology

Microsoft Unveils Windows 11

Microsoft has unveiled Windows 11 during a live-streamed event on Thursday. The announcement comes almost six years after the introduction of Windows 10, which is the world’s most widely used PC operating system, with over 1.3 billion devices using it. Windows, which represents over 10% of Microsoft’s revenue even as the company has grown by …read more →