The Acting Head of Infrastructure South Africa (ISA), Mameetse Masemola, has estimated that the country will need nearly $5.7 trillion to close the infrastructure investment gap between now and year 2050. The ISA’s boss gave this estimate in a statement issued during the Sustainable Infrastructure Development Symposium South Africa (SIDSSA) on Monday. During a media […]
The latest report by the Central Bank of Nigeria (CBN) detailing its intervention disbursements to key sectors of the economy in the last four years showed that Lagos State Government borrowed around N196 billion for the financing of its ongoing Red Line and Blue Line rail projects across the state. The apex bank, in its […]
The Central Bank of Nigeria (CBN) has reported that Electricity Distribution Companies (DisCos) spend N273.3 billion in seven years to provide 414,000 prepaid meters to electricity consumers in the country. The latest report from the apex bank on development finance interventions between 2015 and 2022, indicated that the DisCos spent an average of N670,000 for […]
The Nigerian Communications Commission (NCC) has reported that following the disruption last Thursday, March 14, which affected data and voice services due to cuts in undersea fibre optics along the coasts of Cote d’Ivoire and Senegal, telecom services have now been restored to approximately 90% of their peak utilization capacities. The telecom industry regulatory commission, […]
The Association of Licensed Telecommunications Companies of Nigeria (ALTON), has issued an advisory to industry stakeholders concerning the damage to multiple submarine fibre optic cables along the West Africa Coast, which have affected adversely data access and internet services in the sub-region. The association, in a statement signed by its Chairman, Engr. Gbenga Adebayo and […]
A combination of cable cuts, resulting in equipment faults on the major undersea cables along the West African Coast, have negatively impacted data and fixed telecom services in several countries of West Africa, including Nigeria, Ghana, Senegal, Cote d’Ivoire, among others. The Nigerian Communications Commission (NCC) reported that the cuts occurred somewhere in Cote d’Ivoire […]
Analysts at Standards and Poor (S&P) has in the latest Global Commodity Insights reported that Nigeria had become the largest importer of refined petrol in Africa from Europe as the shipments of the commodity to the continent continue increase. The analysts noted also that crude oil shipments from the Middle East to Europe had significantly […]
The Federal Government on Tuesday met with a consortium of financial institutions that had expressed interest in providing funds towards the completion of the 284 +103km Kano-Maradi rail project. Receiving representatives of the Take-Out facilities Lenders for the Kano-Katsina-Jibiya-Maradi (Niger Republic) Single – Track Standard Gauge Railway project in the Ministry of Transportation in Abuja, […]
The Federal Government has revved up its investment and policy moves to increase electricity megawatts from 4000 megawatts (MWTs) to 6,000 WHTs within the next three to six months to improve power supply. The Minister of Power, Mr Adebayo Adelabu, who made this disclosure on Monday during his meeting with the heads of power agencies […]
UK-based integrated energy development and investment company, Konexa, has achieved financial close on a combined $18 million investment to establish private renewable electricity trading platform and connect Nigeria Breweries Plc, its first client, to the grid. The funding for the renewable electricity project, which is supported by climate-centric blended finance fund manager Climate Fund Managers (CFM) […]