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Consortium pools $400m for 260MW plant in Ogun

A Consortium of foreign financial institutions has generated a total of $400 million to construct a 260-megawatt, MW, power plant to be located in Ewekoro, Ogun State.

Lafarge Nigeria Limited, the cement manufacturing company is the lead arranger of the deal, which also includes the International Finance Corporation, IFC, a subsidiary of the World Bank; Wartsila-Development; and Financial Services Company based in Finland.

Ministry decries smuggling of minerals

Following the surge in illegal activities in the Solid Minerals sector, the Minister of Mines and Steel Development, Mr. Musa Sada, has condemned the continued smuggling of mineral resources out of the country.

Nigerians to pay more for cooking gas

Nigerians will be compelled to pay a sudden 48 percent price increase for liquefied petroleum gas, LPG, also known as cooking gas, as a 12.5 kilogramme of the product has risen to N4,000, up from N2,700 previously.

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