By Ebriku John Friday The Global LPG Partnership (GLPGP) and the African Refiners and Distributors Association (ARDA) announce their intention to raise a $1 billion fund to enable clean cooking with liquified petroleum gas (LPG) for millions of people ahead of the International Energy Agency (IEA) Summit on Clean Cooking in Africa. This game-changing venture aims at stimulating and supporting rapid LPG sector development in Africa at scale, building on ARDA members’ distribution and human capacity and GLPGP’s LPG policy, regulatory and investment planning capability. The goal is to catalyze…
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Otu Secures $3.5bn Afreximbank Funding For Bakassi Deep Seaport
By Ebriku John Friday Cross River State government, has secured a $3.5 billion funding from the Pan-African multilateral financial institution, African Export-importbank (Afreximbank) for some of its key infrastructure projects in the state. Governor Bassey Otu, who was in Egypt, last week for a workshop, also visited the African Export-Import Bank (Afreximbank) in Cairo, to explore partnership in key infrastructure projects to be undertaken in the state. The workshops held during the visit culminated in the signing of a project preparation facility for the development of a deep seaport estimated…
Read MoreTinubu To Perform Groundbreaking Of Multi-billion Naira Abuja Airport Garden City – Firm
…to accommodate over 3,000 residents, businesses …AIG Ayodeji assured of security … construction partners guarantee quality work By Ebriku John Friday As part of effort and vision to tapped into the Tinubu’s ‘Renewed Hope’ Agenda , a real estate firm of global repute, First Rotech Group of Companies Ltd, has disclosed that President Bola Tinubu will perform groundbreaking of multi-billion Naira Abuja Airport Garden City. The disclosure was made by the Chairman of First Rotech Group, High Chief Austin Oguejiofor, after a tour of the site located in Gousa, along…
Read MoreOtu Woos Investors To Cross River, Targets $9 Billion Economy By 2031
…markets opportunities to diplomatic community By Ebriku John Friday Cross River State Governor, Prince Bassey Otu, has showcased attractive investment opportunities in various sectors in the state to members of the diplomatic community and development partners, targeting $9 billion economy for the state by 2031. Otu called on prospective investors to take full advantage of opportunities in agriculture, manufacturing, solid minerals, oil and gas, as well as hospitality to invest in the state. The governor spoke at the first “Executive Governor’s Roundtable” organised by the state government in Abuja, with…
Read MoreThe World Bank and IMF Should Refocus Its Operations in Africa to infrastructure Based financing – MD Policy House International
The Managing Director of Policy House International and the Executive Director of Incentive Based Initiative (IBI) Nigeria Taiwo Akerele has advised the world bank and the IMF to refocus its operations in Africa to infrastructure based financing and reduced its portfolio on social development to promote an enhanced accountability mechanism for the governments in the region. He stated this at the CSO virtual side events during the annual meetings of the world bank in Washington DC, United States of America. He was quoted ‘Africa is lacking in key infrastructure especially…
Read MoreFinance Minister Allays Fear Over FG’s Borrowing Plan
…says revenue growing successfully The Minister of Finance, Mrs Zainab Shamsuna Ahmed, has assured Nigerians that there is no cause for alarm over Federal Government’s borrowing as it still remains within the fiscal limits. She also explained that with the global trends in global economic growth indicated risks in spite of these the efforts made by the Buhari-led administration with the Economic Recovery Growth Plan, ERGP, the economic exited recession. She said: ‘We have been very strategic in the management of our debts, revenues, infrastructure, and human capital. These plans…
Read MoreInfrastructural Devt: Minister Of Finance Heads 13-Man Scheme’s Management Committee
…Dangote, 5 investors set to execute 19 road projects in 11 states Following Federal Government’s resolve to continue with massive infrastructural development across the country under Executive Order #007 signed by President Muhammadu Buhari on Friday, the Minister of Finance, Mrs Zainab Shamsuna Ahmed, will chair the 13-man Scheme’s Management Committee of various road and bridge projects under the pilot phase. This was contained in the statement signed by the Special Adviser to the Minister of Finance on Media and Communications, Paul Ella Abechi, where Ahmed explained that President Muhammadu…
Read MoreFinance Minister Unveils FG’s Strategic Revenue Growth Initiatives
….to deploy strong coordinating mechanism The Minister of Finance, Zainab Shamsuna Ahmed, Wednesday, unveiled Federal Government’s Strategic Revenue Growth Initiatives (SRGI) for sustainable revenue generation in all sectors of the economy. Ahmed who did the unveiling as contained in a statement signed by the Special Adviser to the Minister of Finance on Media and Communications, Paul Ella Abechi, had the presence of top government officials from various Ministries, Departments and Agencies in attendance. She recalled that upon her resumption as Minister of Finance in September 2018, she took time to…
Read MoreKANO INDUSTRIALISATION PLAN: FG Okays Kano’s Multi-billion 540MW Electricity Project
The Federal Government has okayed Kano State government’s proposal of a multibillion 540 megawatt Qua Iboe Power Plant (QIPP) for the re-industrialisation plan of the state. The Minister of Finance, Mrs Zainab Shamsuna Ahmed gave the Federal Government’s assurance on Tuesday, when she received the Kano State Governor, Dr Abdullahi Umar Ganduje and his team in Abuja. The Minister in a statement signed by her special Adviser on media and communications, Mr Paul Ella Abechi, said, “Let me assure you that it is not an issue of if this project…
Read MoreStates Soon To Access World Bank’s $750m Loan, Grant – FG
The Federal Government has disclosed that 36 state governments and the Federal Capital Territory, FCT, will soon access World Bank’s $750 million loan and grant facility. This was made known by the Minister of Finance, Zainab Shamsuna Ahmed, while addressing the 7th Community of Practice (CoP) made up of State Commissioners of Planning and Budgeting, in Abuja, with theme, ‘Achieving Realism in State and Federal Budgets for Effective Service Delivery’, as contained in a statement signed by the Special Adviser to the Minister of Finance on Media and Communications, Paul Ella Abechi.…
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