Ajaokuta Steel Complex to generate $1.6bn, create 500,000 jobs
President Bola Tinubu declared on Sunday that with the hitherto abandoned Ajaokuta Steel Complex now nearing completion, the project will have the capacity to employ 500,000 Nigerians once designated as a free trade zone. The steel complex which was initiated by the administration of former President Shehu Shagari, in 1979. The complex is regarded as […]
Nigeria’s Foreign Debt Service Hits $1.81bn in Seven Months
Data released by the Central Bank of Nigeria (CBN), has revealed that the federal government has allocated a substantial $1.81 billion to service its foreign debt obligations during the initial seven months of 2023. A breakdown of the numbers showed that in January 2023, the federal government dedicated $112.35 million to service its foreign debt. February […]
FG grows national grid power capacity to 14,000MW
The Federal Government through the Association of Power Generation Companies has grown the power capacity of the national grid from 13, 000megawatts recorded a few years ago to about 14,000 MW. APGC’s Executive Secretary, Dr. Joy Ogaji, while speaking with The PUNCH on the sideline of the Association of Energy Correspondents of Nigeria’s 2023 annual […]
Investors commit $1bn to gas-to-power projects
Out of the $80bn gas-to-power projects planned to be established in Nigeria, only $1bn has been committed to these projects by investors, an oil and gas report seen on Sunday showed. In the report, which was put together after the recently concluded policy dialogue on Nigeria’s Decade of Gas plan, stakeholders in the sector stated […]