Infrastructure News & Reports

Construction of Ice-based Sports Facilities Begins in Calabar

The construction of ice-based sports facilities in Nigeria has begun in Calabar, the capital of the Cross River State, Nigeria. This was announced by Mr. Daniel Damola, the President of Nigeria Curling Federation (NCF).  Damola said that the project has already begun with the clearing works and fencing of the site where the facility will be …read more →

AFRICAReports News & Reports Power

IDA to Fund Cameroon – Chad Power Interconnection Project with US$ 385M

The proposed Cameroon – Chad Power Interconnection Project is set to receive approximately US$ 385M worth of funding in form of a loan from the International Development Association (IDA), a subsidiary of the World Bank Group. Approved on 16th June this year the grant will be split between the two countries, US $295 million for the …read more →

News & Reports Transportation

Firm launches ‘Plentywaka’ to Boost Delivery in Lagos

Plentywaka, a tech-driven premium bus-hailing service, has announced the launch of “Logistics by Plentywaka” (LBP), an innovation aimed at boosting last-mile delivery in Lagos. The company said in a statement that the innovation was a Lagos-based business-to-consumer delivery service. According to the statement, Logistics by Plentywaka removes the stressful task of transporting packages across Lagos …read more →

AFRICAReports Banking and Finance Infrastructure News & Reports Power

World Bank Approves $750m Facility for Nigeria’s Power Sector

The World Bank Board has approved $750 million facility for the Nigerian Power Sector in a bid to support the Buhari administration in providing constant power supply to Nigerians. The facility under the Bank’s The Power Sector Recovery Programme (PSRP) buys time in favour of the Nigerian consumers as it forestalls the increase of tariffs …read more →

Maritime News & Reports

Waterways Protection Infrastructure to Secure All Anchorage Areas – FG

THE Federal Government has concluded arrangements to make the Integrated National Security and Waterways Protection Infrastructure, also called the Deep Blue Project, the central security structure for all anchorage areas in the Nigerian maritime domain. This is to reduce the cost of shipping goods into the country. Managing Director of the Nigerian Ports Authority, NPA, Hadiza Bala …read more →

AFRICAReports ENERGY News & Reports

$7.6 Billion Train-7 Project Good to Go as NCDMB, NLNG, Contractors Agree

The $7.6 billion train-7 project is set to commence in earnest as the Nigerian Content Development and Monitoring Board, NCDMB, and the Nigerian Liquefied Natural Gas Limited, NLNG have held the kick-off meeting for the engineering, procurement and construction components of the project. The meeting which was held virtually, provided the opportunity for NCDMB to …read more →

AFRICAReports Infrastructure News & Reports

Morocco Begins Construction of an Economic Zone at Fnideq

Morocco has begun the construction of an economic activity zone in Fnideq, a town in northern Morocco, on the Mediterranean coast of M’diq-Fnideq Prefecture near the border with the Spanish autonomous city of Ceuta. The works that are already taking place with regards to the construction of an economic zone on the site are the leveling …read more →

News & Reports Technology WORLDReport

Arm Technology Powers World’s Fastest Supercomputer

The International Supercomputing Conference, ISC, has announced that Fugaku supercomputer, a system jointly developed by RIKEN and Fujitsu Limited, based on Arm technology, was awarded the number one spot of the TOP500 list. Having been crowned the world’s most efficient supercomputer on the Green500 list in November 2019, Fugaku was also given top honours on …read more →

Economy News & Reports WORLDReport

World Bank Board to Meet on Nigeria’s $1.5 Billion Loan Request On August 6

The board of the World Bank is expected to meet on August 6, to decide on Nigeria’s request for $1.5 billion facilities to augment its revised 2020 budget amidst the impact of corona virus pandemic, sources at the international lender said. The lender decision which was initially set for late July, according to the sources …read more →