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Commodities

FG, AfDB open talks on coal-to-power financing

The Federal Government has opened talks with the African Development Bank for financing of coal-to-power projects across the country. Our correspondent learnt that the funding arrangement, which the Ministry of Mines and Steel Development is midwifing, would be available to operators who were ready to

Constraint in Nigeria’s $10bn fruit industry

Nigeria’s inability to farm fruits all year round and carry out extensive research and development are major constraints to the nation’s $10 billion fruit industry. Nigeria could save as much as N165 billion, which is the yearly estimated spend on the importation of fresh fruits

FG seeks $5.2bn from World Bank for electricity

The Federal Government is seeking $5.2bn from the World Bank to expand electricity generation and help the economy recover from its first contraction in 25 years. The bank’s private-sector lending arm, the International Finance Corporation, may invest about $1.3bn in power projects and electricity distribution

International Consumer Pays NBET $159m For Power

Republic of Niger (NIGELEC)  and Republic of Benin (CEB) have paid $159,773, 116.61 for power supplied them by Nigeria to the Generating Companies (GenCos) and Service Providers. This was a disclosure made by the National Bulk Electricity Trader (NBET) and captured in the Communique issued

Recent Spike in Commodity Prices Confounded Analysts

The recent spike in commodity prices especially beans and yellow garri confounded most analysts. Also noteworthy is the price of cement which has spiked 17.3% to N2,700. Typically the price of cement falls during the raining season. This contrarian movement is most likely due to

Marginal fields bid round to commence this month

The federal government recently paid $400 million as part settlement of an outstanding 2016 joint venture cash call debts it owes international oil companies (IOCs), could you explain more on this? At the time that we did the joint venture review, we came up with,

Pipeline vandalism up by 233%, says NNPC

The rate of pipeline vandalism in the country increased by 233 percent in January this year compared to December 2016, the Nigerian National Petroleum Corporation has said. In its latest financial and operations report for January 2017, the national oil firm stated that pipeline vandalism

NNPC reduces trade deficit by 16%

The Nigeria National Petroleum Corporation (NNPC) has reduced its trading deficit too? 14.26 billion by January end, down from ?17.01billion recorded in December 2016, representing about 16 percent improvement. The Corporation attributed the appreciable decrease in deficit to improved Nigerian Petroleum Development Company (NPDC) revenue,