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Nigeria’s gas revolution will lift West Africa’s energy

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Tag: Nigeria

FG's 1,068 oil projects to generate $22.8bn investments
Oil and Gas

Nigeria’s gas production rises 2.2% in Dec 2023

Nigeria’s gas output increased by 2.2% in December 2023 compared to November 2023, when the country’s oil and gas companies produced 146.991 billion standard cubic feet of gas. The Times reported that this data was obtained from the Nigerian National Petroleum Company Limited. However, according to the NNPC, flares accounted for 7.75% of the 11.646 […]

Aviation ministry gets N40bn approval for NAVAID upgrade
Aviation

Nigeria-Niger Republic flights remain suspended – FG 

The Nigerian Airspace Management Agency played a role in the ongoing prohibition on aircraft travel between the two countries. The PUNCH reported that according to NAMA, exceptional flights, aircraft in a state of emergency, and over-flight aircraft using Nigerian airspace are among the approved exceptions to the embargo. General Abdourrahamane Tchiani succeeded Mohamed Bazoum, the legitimately […]

FG to launch W'Bank-funded $100m women empowerment project
News

Seven Nigerian states to face food crisis in 2024 — W’Bank

Borno, Adamawa, Kaduna, Katsina, Yobe, Sokoto, and Zamfara states are the ones the world bank spoke about. According to the World Bank’s most recent Food Security report, because of armed conflict and other factors that are lowering living standards throughout the area, seven states in the North-west and North-east are expected to be at crisis food […]

Fuel, electricity tariff cap costly, IMF warns Nigeria
News

IMF Projects Nigeria’s inflation rate to drop to 15.5% in 2025

Nigeria’s inflation rate is expected to drop to 15.5 per cent in 2025 and 23 per cent in 2024, according to the International Monetary Fund. The IMF’s Division Chief of Research Department, Daniel Leigh, made a suggestion about this during the recent World Economic Outlook update press conference. As of December 2023, Nigeria’s inflation rate was […]

6000 brands receive certification from SON
News

6000 brands receive certification from SON

The Standards Organisation of Nigeria has demonstrated its dedication to maintaining quality standards in the nation by successfully certifying an astounding 6000 brands. The former director of product certification at SON, Tersoo Iyorshe Orngudwem revealed this information at a retirement celebration in Abuja. According to him, the accreditation is a major step forward in the continuous […]

World Bank bans Nigerian companies, CEO over fraudulent practices
Banking

World Bank MD to visit Nigeria

By Christian George The World Bank’s Managing Director of Operations, Anna Bjerde, will visit Nigeria on February 6, 2024 to meet with ministers and Central Bank of Nigeria governor. Bjerde who is expected to spend two days in the country will focus more on the key pillars of Nigeria’s development strategy. According to a statement, […]

Finance Corporation invests $2bn in Nigeria - Official
News

Finance Corporation invests $2bn in Nigeria – Official

Finance Corporation invests $2bn in Nigeria – Official The International Finance Corporation made $2 billion in investments in Nigeria, distributed among several industries, according to the Regional Vice President for Africa,  Sergio Pimenta. The PUNCH reported that Pimenta made this statement during the recent BoI-IFC Conference on Empowering Futures in Lagos, where participants convened to devise […]

Nigeria-China trade hits $23bn - Envoy
featured

Nigeria-China trade hits $23bn – Envoy

The Chinese Ambassador to Nigeria and Consul General of the People’s Republic of China, Yan Yuqing, estimated that bilateral commerce between Nigeria and China would be $22.6 billion in 2023. The PUNCH reported that Nigeria has continued to be China’s third-largest trading partner in Africa, according to Yuqing. She made this revelation in Lagos during […]

Dangote refinery urges NUPENG, PTD to resolve conflict
News

FG hails Dangote over efforts to diversify economy

The Federal Government has praised the Dangote Group for contributing to the government’s efforts to diversify the country’s economy, as well as the company’s commitment to promoting best practices across all of its enterprises. The PUNCH reported that he appreciated Dangote Group at the same time that the Ogun State Government announced that Dangote Cement, which […]

Nigeria, Saudi sign MoU on energy cooperation
featured

Nigeria, Saudi sign MoU on energy cooperation

  Nigeria and Saudi Arabia inked a Memorandum of Understanding to enhance cooperation, information exchange, and technology transfer in the oil sector. According to The PUNCH, the Minister of State for Petroleum Resources, Senator Heineken Lokpobiri, represented the Federal Government, and Prince Abdulaziz bin Salman, the Energy Minister of Saudi Arabia, signed for his country. […]

featured

Nigeria approach World Bank for $1.5bn budget support loan

The Federal Government of Nigeria has confirmed ongoing negotiations with the World Bank for a significant $1.5 billion budget support loan. According to The PUNCH, this announcement was made by the Minister of Finance and Coordinating Minister of the Economy, Mr. Wale Edun, during a press conference at the World Bank/International Monetary Fund Annual Meeting […]