In furtherance of its sustained efforts to boost foreign direct investment (FDI) inflows into the country, the Federal Government has given approval to some Indians to invest new $25 million into the Nigerian economy. The India Consul-General to Nigeria, Shri Chandramouli Kumar Kern, gave this hint during the inauguration of Artemis Laboratories Limited’s new pharmaceutical […]
The Organization of Petroleum Exporting Countries (OPEC) released the sum of $1.7 billion to support 55 projects from its Fund for International Development in 2023, according to a report from the global oil cartel. Aligned with the multilateral development finance institution’s Climate Action Plan, the oil cartel’s support for renewable energy projects constituted nearly 60 […]
In its renewed efforts to combat the menace of drug and substance abuse in Nigeria, particularly amongst the teeming youth population, the National Agency for Food and Drug Administration and Control (NAFDAC) has put in place effective mechanisms to track and trace narcotic products across the manufacturing and consumption value chain nationwide. The Director-General of […]
The Minister of Budget and Economic Planning, Sen. Abubakar Atiku Bagudu, has urged states in the country to immediately access the outstanding $329.52 million balance from the Nigeria COVID-19 Action Recovery and Economic Stimulus (NG-CARES) programme. Bagudu, who made the call while inaugurating a Federal Cares Steering Committee (FCSC) for the programme in Abuja, lamented […]
The United Nations Industrial Development Organization (UNIDO) has expressed its interest to partner the National Agency for Science and Engineering Infrastructure (NASENI) to reduce energy poverty through the domestication of renewable energy solutions and to fast-track industrial development in Nigeria. The Deputy Head, UNIDO Nigeria Office, Mr. Adekunle Olusile, who led a delegation on a […]
A draft of a potential climate deal at the COP28 Summit on Monday suggested a range of measures countries could take to slash greenhouse gas emissions, but omitted the “phase out” of fossil fuels many nations have demanded – drawing criticism from the U.S., EU and climate-vulnerable countries. Reuters reports that the draft has set the […]
…..As Statutory Revenue Dips By N354.863Bn M-o-M The Federation Account Allocation Committee (FAAC) on Wednesday reported that it shared a total sum of N906.955 billion from the October 2023 Federation Account revenue to the Federal, State and Local Government Councils. The committee, in a communiqué issued after its November 2023 meeting, indicated that the […]
German Chancellor, Olaf Scholz, has pledged his country’s $4.4 billion support for Africa-European Green Energy Initiative at the ongoing G20 Compact with Africa Investment Summit in Berlin, Germany. The Chancellor said that the funding would cover the initiative through 2030 with his country importing a significant portion of its green hydrogen from African countries. Scholz […]
…..Targets $2Bn Carbon Investments The Niger Delta Development Commission (NDDC) on Tuesday unveiled plans to unlock $2 billion carbon investment in the Niger Delta region using solar power as part of the management’s wider strategy to ensure power supply to communities in the region. The commission’s Managing Director, Dr. Samuel Ogbuku, who was quoted in […]
The Nigerian Upstream Petroleum Regulatory Commission (NUPRC) has issued letters of award to 42 companies/entities that were successful in the bid for 49 Flare Sites enlisted during the 2022 Nigerian Gas Flare Commercialisation Programme (NGFCP) Auction process. The petroleum regulatory body confirmed the issuance of the letters of award via a press statement issued on […]