Ukrainian President, Volodymyr Zelensky, has called off a high-profile briefing with US lawmakers amid an impasse over future US funding for the country. Already, virtual appearances in the Senate and House had been scheduled for Tuesday, but were cancelled at the last moment after a top Ukrainian official warned they were in danger of losing […]
The Africa Finance Corporation (AFC), the leading infrastructure solutions provider on the continent, has announced its signing of a US$350 million long-term line of credit with the African Development Bank (AfDB) to urgently provide the needed financing for infrastructure projects to underpin sustainable development and economic growth in the continent. The agreement, which was signed […]
The Speaker of the House of Representatives, Hon. Tajudeen Abbas, has assured Nigerians that the 2024 budget would be the “people’s budget” that will address the economic hardships faced by Nigerians. Abbas, who gave this assurance on Monday at the town hall meeting on the budget organised by the Green Chamber of the National Assembly, […]
President Bola Tinubu on Wednesday presented an Appropriation Bill of N27.5 trillion for fiscal 2024 to the National Assembly for passage. Presenting the proposed budget tagged “Budget of Renewed Hope” to the joint session of the National Assembly, the President explained that the key thrusts of the fiscal proposal were national defence, internal security, job […]
The Rural Electrification Agency (REA) has launched a control room centre located at its headquarters in Abuja to ensure effective monitoring of mini-grids power facilities that are note connected to the national electricity grid. The agency’s initiative aligns with the introduction of new Energy Management System (EMS) policy to effectively monitor smaller electricity systems called […]
The Nigeria Sovereign Investment Authority (NSIA), manager of Nigeria’s sovereign wealth fund, and Z Capital Group (ZCG), a leading private markets asset management firm, have signed a Memorandum of Understanding (MoU) on a joint venture partnership to establish a fund focused on infrastructure investments in Africa. The collaboration enables the parties to leverage the unique […]
The International Energy Agency (IEA) has projected that supply cuts by some oil producing countries may not affect oil surplus in 2024. The head of the agency’s oil markets and industry division, Toril Bosoni, was quoted in a news report by Reuters as making the forecast on Tuesday during an interview. Bosoni, who shared some […]
…..As Kerosene price rises 0.32% Buyers of Liquefied Petroleum Gas (cooking gas) in Nigeria paid N4,562.51 as average retail price for refilling a 5kg cylinder in October this year, representing an increase of 8.89% month-on-month over the N4,189.96 they paid in the preceding month. The National Bureau of Statistics (NBS) in its ‘Liquefied Petroleum Gas […]
The Nigerian Communications Commission (NCC), has expressed its total commitment to the implementation of the Ministerial Five Pillars of the Strategic Blueprint aimed at holistically transforming the nation’s economy with a view to achieving 70% digital literacy by 2027; and a capital increase raised by Nigerian tech startups by 50% year-on-year from $1 billion/year in […]
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 […]