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Afreximbank Invests $17bn in Nigeria July 13, 2018

The Africa Export-Import Bank (Afreximbank) disclosed yesterday that its investment in the Nigerian economy stands at over $17 billion . Afreximbank President, Dr. Benedict Oranmah, who spoke at the ground-breaking ceremony of the Anglophone Regional Office, in Abuja, stated that the decision to invest in the Nigerian economy was in appreciation of the critical role […]

Expansion: NLNG shops for $7 billion July 13, 2018

In the build-up to Final Investment Decision (FID) later this year, the Nigeria Liquefied Natural Gas (NLNG) Limited (NLNG) is seeking $7 billion from the global financial markets for the sustainability of its operations and expansion project (construction of Train 7). The expansion is to raise its production capacity from 22 million tonnes per Annum […]

ERGP focus labs target $9.25b investments in manufacturing, processing July 13, 2018

The Federal government’s Economic Recovery and Growth [ERGP] Focus labs has set a target of $9.24 billiion revenue inflows for private sector investments in manufacturing and processing industries in Nigeria expected to create over 300,000 jobs across the six geo-political zones by 2020. Read more

Nigeria Opens First Phase of $824 Million Abuja Metro Rail July 13, 2018

Nigerian President Muhammadu Buhari opened the first phase of a new metro-rail service in Abuja, the capital, for public use eight years after the project was initiated. Read more

FG Approves 0% Equity for Housing Loans below N5mn July 13, 2018

Nigerians who wish to buy houses below N5 million using mortgage loans from the Federal Mortgage Bank of Nigeria (FMBN) will no longer have to come up with any equity deposits to the FMBN, the federal government disclosed. Read more

NCDMB invests $10m in Waltersmith’s modular refinery July 9, 2018

The Nigerian Content Development and Monitoring Board (NCDMB), has signed a $10m equity investment agreement with Waltersmith Refining & Petrochemical Company Limited for the construction of a 5000 barrels per day modular refinery to be located at Ibigwe, Imo State. Read more

NEXIM Bank Targets N5.12bn Profit in 2018, Backs Inland Dry Seaport Projects July 9, 2018

The Managing Director/Chief Executive, Nigerian Export-Import Bank (NEXIM), Mr. Abba Bello has put the bank’s estimated profit before “bad and doubtful” provisions for 2018 at N5.12 billion. Read more

NGPTC posts N6.1bn profit, to deliver pipeline projects July 9, 2018

The Group Managing Director, Nigerian National Petroleum Corporation, Maikanti Baru, has announced a profit after tax of N6.11bn for the Nigerian Gas Processing and Transportation Company, a subsidiary of the NNPC. He said the PAT was recorded in the NGPTC’s first year of operation under the new structure, which had seen the company refocuse solely […]

Aviation, Oil & Energy pools generate $750.98m premium income July 9, 2018

THE African Aviation and Oil and Energy pools have generated premium income of $750.98 million from January 1, 2017 to March 31, 2018. The pools are made up of 32 Nigerian insurance companies and 20 from 15 other African countries. Read more

Turnover in I&E rises 24% to $29.7bn in H1’18 July 9, 2018

THE volume of dollars traded in the Investors and Exporters, I&E, window rose by 24.2 percent to $29.7 billion in the first half of the year, H1’18, from $23.9 billion traded in 2017. Read more

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