sector

FG, World Bank To Discuss $3 Billion Power Sector Loan

October 18, 2019 2:27 am

The Minister of Finance, Budget and National Planning, Mrs. Zainab Ahmed, and other top government officials will exploit the opportunity of the ongoing annual meetings of the International Monetary Fund

(IMF) and the World Bank in Washington DC, United States of America to firm up discussions on the planned $3 billion facility targeted at addressing current challenges confronting Nigeria’s power sector.

Confirming the move in an interview on the sidelines of the ongoing meetings, Ahmed said the facility could actually be up to $3 billion, to be released in tranches for a period of about five years, adding that …

CBN Has Supported The Power Sector To The Tune Of ₦1.695tn

October 14, 2019 3:11 am

The financial support provided by the Central Bank of Nigeria (CBN) to Nigeria’s power sector is set to hit a total of ₦1.695 trillion, making it the single largest creditor to the sector, an analysis of a report obtained from the apex bank by Newsmen has disclosed.

We gathered from the CBN annual report for 2018, that as at the end of 2018, it had granted total credit of ₦1.095 trillion to the power sector under the three different schemes it set up.

The schemes included the Nigerian Electricity Market Stabilisation Facility (NEMSF), which was made to settle outstanding payment …

Concerned Stakeholders Seek Reforms In Maritime Sector

October 9, 2019 3:33 am

Concerned stakeholders in the maritime industry have advocated for a review of the business processes of both government and private entities operating within the Nigerian maritime sector.

This, according to them, would ensure compliance with the Standard Operating Procedures (SOPs) and improve efficiency and service delivery.

The Chief Executive Officer, The Convention on Business Integrity, Mr. Soji Apampa, disclosed this yesterday in Lagos, at a round table discussion, in collaboration with the Maritime Anti-Corruption Network (MACN).

The theme of the forum was: “Towards Standard Operating Procedures That Work in Nigeria’s Sea Ports & Terminals.”

According to Apampa, reforming operations in …

UK, Norway to offer support for Nigeria’s Oil, gas sector

July 2, 2019 11:48 am

The UK and the Norwegian governments on Tuesday pledged to support efforts that would drive growth and development in the Nigerian oil and gas sector

The two countries reiterated their commitment at the ongoing Nigerian Oil and Gas Conference and Exhibition, in Abuja, on Tuesday.

The theme of the conference ”Promoting Investment collaboration in the oil and gas sector.”

The British High Commissioner to Nigeria, Catriona Laing said Nigeria was its second largest partner in Africa and 95 per cent of UK’s import was from Nigeria.

“We have a very strong bilateral and we have strong ambition with what we …

Nigeria’s construction sector has been brutal -Andrea Geday

March 19, 2019 6:50 am

The construction sector in Nigeria has been brutal in these past couple of years, the Group Managing Director of Elalan Construction, Andrea Geday has said.

He stated this at the launch of Blue Water Sapphire Penthouses in Lagos, recently.

Geday stated that the market had been very rough and things slow in the standard market, but that they survived as they had sold 50% already.

Blue Water Sapphire Penthouses has been described as the definition of luxury, top of the world living. It has duplex penthouse apartments on the 17th and 18th floors, and there are just four of these …