Nigeria LNG Seeks $10B Funding To Expand Operations With A Seventh Train
The operator of Africa’s biggest natural gas plant, Nigeria LNG, is seeking a loan of US$10 billion from domestic and international lenders to expand its operations with a seventh train, the company’s chief executive Tony Attah told Bloomberg in an interview. Click here for more.
NNPC Agrees To $2.5 Billion Financing With Chinese Lender For Pipeline In Nigeria
Mele Kyari, the Group Managing Director of the Nigerian National Petroleum Company says its company has agreed to $2.5b financing with a Chinese lender for pipeline in Nigeria. Kyari also said that the attacks on Saudi crude processing plant and fields can be a “big challenge” for the oil market if the outage is protracted. Click here for more.
Nigerian bourse and destabilising influence of foreign investors
The Nigerian capital market has witnessed enormous capital flight and sell-off from the foreign investors in the past few years, owing to the nation’s adjudged gloomy macroeconomic outlook and heightening political risks. Click here for more.
Cooking gas utilisation hits 78,000MT
The use of Liquefied Petroleum Gas, popularly known as cooking gas, hzkas been growing steadily as its consumption in Nigeria hit 78,000 metric tonnes in July, the Petroleum Products Pricing Regulatory Agency announced on Sunday. Click here for more.
External Reserves Lowest In Six Months, At $42.84bn
The nation’s foreign exchange reserves have declined further, falling to the lowest level since March 12, latest data obtained from the Central Bank of Nigeria on Sunday showed. The external reserves. Click here for more.
Nigeria’s Biggest Tomato Facility Idle Again as Farmers Dump Crop
Nigeria’s biggest tomato plant is counting on the government’s restriction of food imports to sustain operations after going idle again six months after it resumed operations from an almost three-year shut down. Click here for more.
Stanbic IBTC Holdings Plc Lists Additional 232,899,013 Ordinary Shares
232,899,013 ordinary shares of Stanbic IBTC Holdings Plc (“Stanbic IBTC” or “the Company”) were listed on the Daily Official List of The Nigerian Stock Exchange (The Exchange) on 12 September 2019. Click here for more.
Quoted insurance firms seek N142.13bn capital raise
Following the recent increase in the minimum share capital of insurers by the National Insurance Commission, insurance firms listed on the Nigerian Stock Exchange need N142.13bn to meet the requirement. The National Insurance Commission on May 20 issued a circular on the increase in the minimum paid-up share capital of all classes of insurers. Click here for more.
Saudi blast: Good news for Nigeria?
Following the recent attack on two oil facilities in Saudi Arabia, there are indications that oil prices could go as high as $100, as witnessed six years ago. An increased oil price means the most populous black nation would no longer struggle to meet its revenue targets as more fund will be available for infrastructural development. Click here for more.
Huawei competes with Apple, announces release date for new smartwatch
Barely days after Tech Company, Apple released its new line of products, ranging from the iPhone 11 series to the Apple Watch Series 5, Huawei has announced the release date of its smartwatch. The release date slated for 19th of September was announced via company’s Twitter handle. This will be the first smartwatch that runs Huawei’s new software, the Harmony OS. Click here for more.