The Federal Government has announced the approval of the concession of the Nnamdi Azikiwe International Airport, Abuja and the Mallam Aminu Kano International Airport, Kano. The approval of the two airports’ concession was part of the decisions taken at Federal Executive Council’s (FEC’s) meeting on Wednesday chaired by President Muhammadu Buhari Giving this hint during […]
Power/Electricity
FEC Targets N647.7Bn From Power Plants’ Concession, Other Projects
The Federal Executive Council (FEC) has approved an Operation and Management concession for the 360 megawatts Gurara II Multipurpose Dam & Hydro Power Plant and the 40 megawatts Kashimbilla Hydro Power Plant under a Public-Private-Partnership (PPP) model with a projected revenue target of N647.7 billion from the deal. The approval by the FEC was sequel […]
Osinbajo Commissions 240MW Afam 3 Power Plant In P/Harcourt
Nigeria’s Vice President, Prof. Yemi Osinbajo, on Tuesday commissioned the Afam 3 Fast Power 240-megawatt (MW) turbine plant in Port Harcourt, Rivers State, as part of sustained efforts by the Federal Government to boost power generation and supply in the country. The Afam 3 power project, which was executed in collaboration with General Electric (GE) […]
Transcorp Group Emerges As Preferred Bidder For Abuja Disco
The National Council of Privatisation (NCP) has announced Transcorp Group as the preferred bidder of the Abuja electricity distribution company (AEDC). The Vice President, Prof. Yemi Osinbajo, gave this hint on Tuesday in Port Harcourt, Rivers State, while commissioning the Afam 3-Fast Power Plant. The Vice President, who is also the Chairman of the NCP, […]
Manufacturing Sector Capacity Utilisation Drops To 54.9% In Q2 2022
The Manufacturing Association of Nigeria (MAN) has reported that the capacity utilization in the real sector declined to 54.9% in the second half of 2022 from 59.0% recorded in the corresponding half of 2021 indicating 4.1 percentage points decline over the period. This disclosure was contained in a summary of the survey findings by the manufacturers’ […]
CFOs Pessimistic About Nigeria’s Economic Growth Prospects – KPMG
KPMG Nigeria, a leading economic research and consultancy services provider, has reported that most corporate Chief Financial Officers (CFOs) are not optimistic about Nigeria’s economy recording a significant growth this year. In the firm’s just published ‘The 2023 Annual CFO Outlook Survey’ report about 31 Chief Financial Officers (31%) expect Nigeria’s economic growth to decline […]
NERC To Provide 4Mn Prepaid Meters To Bridge Supply Gap
The Nigeria Electricity Regulatory Commission (NERC) has unveiled plans to provide four million prepaid meters for electricity consumers in the country. The NERC’s Commissioner, Consumers Affairs, Hajia Aisha Mahmud, who made this disclosure in Jos at the Customers’ Complaints Resolution Meeting, pointed out that providing meters for electricity consumers had been a key challenge in […]
AfDB President Advocates New Approach Of Measuring Nations’ Wealth
The President of the African Development Bank (AfDB), Dr. Akinwumi Adesina, has charged global leaders and development experts to consider adopting a new way of measuring wealth of nations in view of the lapses in the current Gross Domestic Product (GDP) approach. Adesina, made this call when the United States’ nominee for World Bank Group […]
Nigeria Could Save Over $2.47Bn On Fluorescent Lighting Phase-Out
The Centre for Law and Social Policy (CLASP) has estimated that if Nigeria complies with the United Nations Convention to eliminate mercury from products and processes, the country could save over $2.47 billion in fluorescent lighting phase-out by 2025. The organization’s Senior Manager, Climate, Colin Taylor, made this projection at an inception workshop with the ‘Minimum […]
Nigeria Ranks 89th In Global Internet Speed Index Rating
Nigeria is currently rated among the countries with slow internet speed, ranking 89th globally, despite sundry efforts of the Federal Government to improve Nigeria’s broadband infrastructure investments over the past few years. According to the just published industry Speedtest Global Index report from a US-based internet speed analysis company, Ookla, Nigeria moved up to the 89th position […]