Nigeria’s Infrastructure Bank has promised to provide financial assistance to the tune of N13 billion to mitigate the consequences of the fuel subsidy removal on Nigerians, especially the poor. Specifically, the bank disclosed that the sum would be used to enhance the nation’s transportation system, particularly the road infrastructure. The bank’s Acting Managing Director, Nkiru […]
President Bola Tinubu has advised foreign investors to explore for good returns the opportunities in the Nigerian economy through investments. Tinubu made the appeal on Wednesday in New York, when he rang the NASDAQ’s closing bell as part of the proceedings at the Executive Business Dialogue in the United States. Speaking at the event, the […]
The Minister of Works, Dave Umahi, at the weekend hinted that the Federal Government was considering the termination of some abandoned projects worth about N6 trillion inherited from past administrations that had no feasible source of funding. The Minister made this disclosure during his chat with State House correspondents after a meeting with President Bola […]
The Nigerian Communications Commission (NCC) has approved the transfer of a 10MHz spectrum in the 2.6GHz spectrum band from OPENSKYS Services Limited (OS) to MTN Nigeria. It stated that approval of the 2.6GHz, which is designated for the deployment of terrestrial mobile broadband services, was conveyed to it by the regulatory commission on September 7, […]
MTN Nigeria Communication Plc, one of the leading mobile network operators (MNOs) in the country, has expressed its concern over the rising incidents of vandalization of its sites, infrastructure, and national assets across the country, particularly in South Eastern region. The telecom operator’s General Manager of Regional Operations in the East, Callima Inino, lamented over […]
The Federal Government has inaugurated the first cargo movement from the Lagos-Ibadan rail corridor after initial concern raised by stakeholders over the under-utilization of the standard gauge rail line two years after its commissioning. The Minister of Transportation, Saidu Alkali, performed the inauguration during his first official tour of the rail corridor, which was flagged […]
The International Energy Agency (IEA) has disclosed that Africa’s bond market total is still less than $1 trillion, which is just less than 1% of the global total. The agency, in its just released September 2023 report on energy financing in Africa, noted that the bond market on the continent was still in its growth […]
The National Bureau of Statistics (NBS), the coordinating agency for Nigeria’s statistical system, reported on Friday that total revenue generated from rail transportation in the second quarter of this year increased to N1.1 billion, representing 83% more than the N598.74 million generated in the corresponding quarter of last year. However, it reported that when analyzed […]
The Director-General of the Securities and Exchange Commission (SEC) Nigeria, Mr. Lamido Yuguda, has projected that given the current level of capital expenditure, it may take up to three centuries to bridge the nation’s consistently widening infrastructure gap. Yuguda, who made this forecast at the 2023 Chartered Institute of Stockbrokers (CIS) National Workshop which was […]
…..consumers to pay more for fuel, other items Oil prices at the global markets rose to a nine-year high since 2014 on Tuesday as Saudi Arabia announced the sustenance of its voluntary production cuts of one million barrels per day until the end of 2023 even as Russia also expressed its export cuts of 300,000 […]