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The African Development Bank, AfDB, has approved additional funding of €12.33 million for the Abidjan-Lagos Highway corridor project. In a statement on Wednesday, the bank said the funds would be used to cover “part of the costs related to the study of the Abidjan-Lagos Motorway corridor development project.”
The road corridor links cities across five West African countries, namely Côte d'Ivoire, Ghana, Togo, Benin, and Nigeria. The statement on the AfDB website read: "The Abidjan-Lagos project, an important regional trade, and transport corridor provide a link between economically-dynamic cities in Africa, namely Abidjan, Accra, Cotonou, Lomé, and Lagos… More details through: https://www.vanguardngr.com/2020/04/afdb-approves-e12-33-for-abidjan-lagos-highway/
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The Nigerian College of Aviation Technology (NCAT) Zaria, has hinted that Nigeria will soon take delivery of a new B737 full-motion flight simulator training purposes. The stimulator, acquired at the cost of $21million, has been under procurement for about four years now.
Giving these hints during a chat with Daily Trust, the NCAT Rector,Capt. Abdulsalam Mohammed, exclusively told our correspondent that the facility had been shipped in spite the COVID-19 pandemic… More details through: https://www.dailytrust.com.ng/nigeria-acquires-21m-boeing-737-flight-simulator-ncat.html Nigeria's central bank said on Monday it would resume cheque clearing, just as the country prepares to gradually ease coronavirus lockdowns in Abuja and Lagos.
“Cheque clearing instruments will be allowed to pass through the clearing system with effect from April 28, 2020,” a circular stated. It added the decision came after it reviewed the need for cheque clearing as part of a “safe and efficient payments system,” and did not cite the easing of lockdowns… More details through: https://af.reuters.com/article/nigeriaNews/idAFL5N2CF7O9 As the ravaging effects of coronavirus disease intensify, the Federal Government has ordered the installation of more solar-powered mini-grids in the newly-created centres across the country. Although the cost of installation is not known, the mini-grids are to provide the 24-hour power supply.
In a statement, the Special Adviser, Media and Communication to the Minister of Power, Mr. Aaron Artimas, said that the installation of the solar-powered grids was in pursuant to the directive by President Muhammadu Buhari to some critical sector of the government to provide maximum support for the fight against the COVID-19. He said that the solar plants were effectively installed within a short period of time by the Rural Electrification Agency (REA) following the instruction of the Minister of Power, Mr. Sale Mamman. The installed solar hybrid projects are; 53.1kwp solar mini-grid at the University of Abuja Teaching Hospital COVID-19 Isolation Centre… More details through: https://www.sunnewsonline.com/covid-19-fg-installs-solar-mini-grids-in-isolation-centres/ Recently, the Federal Government announced a reduction in the price of NPK fertiliser from $14.47 (N5,500) to $13.15 (N5,000) per 50kg bag in order to boost food production despite the COVID-19 outbreak. Taiwo Hassan evaluates the impacts
There have been sundry issues raised on the fate of Nigeria’s agric sector with the outbreak of the novel coronavirus in the country, especially as it relates to food security and the safety of the populace. In fact, there have been divergent views among agric stakeholders, with some of them insisting that it would definitely bring about food scarcity, crisis, hike in commodities prices in markets, and many others. A school of thought had emphasized that the outbreak of the novel coronavirus in Nigeria was a wakeup call and an opportunity to fully diversify into agriculture to feed the estimated population of over 200 million Nigerians… More details through: https://www.newtelegraphng.com/fertiliser-impacting-farmers-with-price-slash/ The management of the Nigeria’s biggest container terminal operator, A. P Moller Terminal Apapa, yesterday commissioned two new multimillion dollars state-of-the-art Mobile Harbor Cranes MHCs, valued N33.6billion, (about $80million), to boost its service delivery at the Apapa Port, Lagos.
Speaking at the commissioning ceremony, Managing Director of Nigerian Ports Authority (NPA), Hadiza Bala Usman, said that, that is the highest by any private terminal operator in Nigeria. The value of this current investment brings A.P. Moller total investment by the company in Apapa since 2006 to N184billion (about$438million)… More details through: https://www.vanguardngr.com/2020/04/apm-terminals-commissionsn33-6billion-cranes-in-lagos-ports-upgrade/ PW Nigeria have secured an initial investment from a consortium of Irish-Canadian mining investors on three gold targets in Niger state. The investment will be used for further exploration in the form of geo-chemistry, aero magnetics, reverse circulation drilling, diamond drilling and fire assays.
PW Nigeria was recently taken over by the BUA Group, a strong indigenous consortium, which will enable PW Nigeria to scale up its operations. PW is already a strong player in Ghana's mining sector and is bullish about the prospects for the mining industry in Nigeria. https://www.miningreview.com/event-news/exclusive-bua-a-perfect-fit-for-pw-nigeria/ Paga, the payments company with operations in Nigeria, Ethiopia, and Mexico, says it has been selected for the 4th Cohort of the Ping An Cloud Accelerator, China. A statement said the five-month programme was created by Ping An Group, one of the world’s largest insurance and financial institutions with headquarters in Shenzhen, China…
More details through: https://punchng.com/chinese-firm-selects-paga-for-programme/ Following its directive to terminal operators to suspend all applicable storage fees on consignments (demurrage) for 21 days effective March 23, the Nigerian Ports Authority has directed that additional 14 days be added to the demurrage-free period.
Subsequently, the agency has directed that demurrage payment on consignment be suspended for 14 days effective from April 13. In a statement signed by its General Manager, Corporate and Strategic Communication, Mr Jatto Adams, the NPA explained that the extension was informed by the extension of the COVID-19 lockdown period for another two weeks… More details through: https://punchng.com/npa-extends-demurrage-free-period-to-april-26/ The World Bank has hinted of plans to commit a total of $510 billion to boost Nigeria and other African countries’ economy within the next three years, the Minister of Finance, Budget and National Planning, Mrs. Zainab Ahmed, has said.
The minister spoke on behalf of Nigeria and other African countries at the ongoing Development Committee Plenary of the 2020 Virtual Spring Meetings of the World Bank Group and the International Monetary Fund (WBG/IMF). In a statement by Yunusa Tanko Abdullahi, Special Adviser, Media and Communications to the Minister of Finance, Budget and National Planning at the weekend, the minister said it was heartening to note the bank’s willingness to commit up to $160 billion within the next 15 months and up to $350 billion by 2023… More details through: https://thenationonlineng.net/world-bank-to-commit-510bn-to-nigeria-others-from-2021-2023-finance-minister/ |
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