NSIA unveils $300m Renewable Energy Fund
By Emma Ujah, Abuja Bureau Chief The Nigeria Sovereign Investment Authority, (NSIA) has launched the $300 million Nigeria Distributed Renewable Energy (DRE) Fund, a new investment vehicle designed to accelerate private-sector investment in renewable energy and expand electricity access to underserved communities and businesses across the country. The Fund, which reached its commercial launch milestone […]
FBN Holdings grows earnings by 20% in 5years
FBN Holdings Plc has disclosed that it recorded 20 percent growth in gross earnings for the five year period with the figure growing to N396biilion in 2013 from N194 billion in 2009.
FAAN grows revenue by 17% through automation
By LAWANI MIKAIRU The Federal Airports Authority of Nigeria, FAAN, has disclosed that its revenue increased by 17 per cent because of the recent automation carried out on the revenue sources of the agency. FAAN General Manager, Corporate Communication, Mr Yakubu Dati, said there is transparency in the current automation . According to him “There […]
Lagos lawmakers flay FG on importation of generating sets
The Lagos State House of Assembly has criticised the increasing rate of importation of generating sets into Nigeria, saying that it is as a result of the Federal Government’s ineptitude and inability to provide adequate power supply to the people.
Oando’s woes heighten with N6.4bn loss in 3months
Oando Energy Resources, OER’s woes continued as the company announced a loss of $39.9 million about N6.384 billion, in its first quarter 2014 financial performance bringing its total loss for two consecutive quarters – first and second to $80.889 million, about N12.94 billion.
Marginal fields licensing round 2013: Prospects, delays (2)
The need to invite foreign partners has become inevitable given that most local banks have not co-operated with marginal field operators in putting these fields into production.
