Germany Approves 10m Euros for infrastructure projects in Nigeria The German government, through its Federal Ministry for Economic Cooperation and Development (BMZ), has approved 10 million Euros to expand infrastructure in Nigeria and other parts of Africa. The African Development Bank (AfDB) and KfW announced the replenishment of the[Read More…]
CBN warns banks over Russia, Iran, Cameroon transactions The Central Bank of Nigeria (CBN) has warned Deposit Money Banks (DMBs) and Other Financial Institutions (OFIs) in the country to be wary of transactions with businesses and persons in the Russian Federation, the Democratic People’s Republic of Korea, Iran and Cameroon.[Read More…]
Nigeria inflation may hit 30%, Bank of America warns The Bank of America has said the Monetary Policy Committee of the Central Bank may need to increase interest rates by at least 700 basis points before the end of the year to curb inflation. In an interview with Bloomberg on[Read More…]
Nigeria, Angola now Africa’s biggest oil drilling markets – Report
Zinox to invest $250m in renewable energy Integrated technology group, Zinox Technologies Limited, has unveiled a plan to invest over $250 million after years of research, test running of durable and cost-efficient multifaceted renewable energy solutions for Africa, particularly Nigeria. This will be done in partnership with renewable energy[Read More…]
Fidelity International Trade and Creative Connect Expo holds in US Fidelity Bank Plc has announced plans to host the second Fidelity International Trade and Creative Connect (FITCC) conference in Houston, Texas, the United States. The maiden edition of the FITCC was held in London, United Kingdom last November. Tagged[Read More…]
AFDB approves $11m to support SMEs The African Development Bank (AfDB) Group, at the weekend, approved an $11 million equity investment in BluePeak Private Capital Fund toward its $155 million target for final close. The investment advances AfDB’s goal of supporting mid-size firms, including in the pharmaceuticals, agribusiness, manufacturing,[Read More…]
Seplat expresses believe of completing $1.3b ExxonMobil acquisition Seplat Energy Plc has expressed its commitment to completing the purchase of Nigerian oil and gas assets from ExxonMobil Corporation, a deal that has been held up by the Federal Government for more than a year. The Lagos and London-listed[Read More…]
World Energy review reveals slump in Nigeria’s gas production • LNG Exports Drops To 19.6bcm, Lowest In Last Decade This may not be the best of time for Nigeria’s hydrocarbon sector, as its natural gas production declined to 40.4 billion cubic meters (bcm) in 2022. The June 2023 Statistical Review[Read More…]
Stock roundup: Investors trade N41.5bn shares in three days Investors in the Nigerian capital market traded 2.314 billion shares valued at N41.547 billion in 28,095 deals in three days last week. This however fell short of the 3.369 billion shares worth N41.986 billion traded by shareholders in 39,764 deals the[Read More…]
