NESG: Nigeria’s high production costs threaten industrial competitiveness
By Favour Ulebor The Nigeria Economic Summit Group has warned that high production costs, unreliable electricity and poor logistics infrastructure are undermining Nigeria’s industrial competitiveness, calling for a council within the Presidency to coordinate industrialisation policies. Co-facilitator of the NESG, Lumun Feese, said Nigeria needed a coordinated approach to industrial development to address structural challenges […]
ECOWAS moves to improve electricity supply to member states
THE World Bank and ECOWAS Centre for Renewable Energy and Energy Efficiency, ECREE, have designed a regional renewable energy project, the Regional Off-Grid Electrification Project, ROGEP, aimed at increasing access to sustainable electricity supply, most especially in the rural areas of member states.
Fitch ratings assign B+ to Nigeria Debt notes
FITCH ratings has assigned the final rating of ‘B+’ to Nigeria’s Debt notes, consisting of USD1.5 billion 6.5 percent senior unsecured notes due November 28, 2027 and USD1.5 billion 7.625 percent senior unsecured notes due November 28, 2047.
Foreign investment rises 147% to $4bn in Q3
In apparent confirmation of rising confidence in the Nigerian economy, foreign investment into the country shot up by 147 percent year-on-year (YoY) to $4.1 billion in the third quarter (Q3 2017) from $1.82 billion in Q3 2016.
AEDC denies issuing force majeure over direct electricity purchase
THE Abuja Electricity Distribution Company Plc, AEDC, has disassociated itself from notice of force majeure served Bureau of Public Enterprises, BPE, by the Electricity Distribution Companies, DISCOs, over the new Eligible Customer Policy in the Nigerian Electricity Supply Industry, NESI.
Naira depreciates to N360.32/$ in I&E
The naira Monday depreciated slightly to The naira depreciated slightly to N360.32 per dollar at the Investors & Exporters (I&E) window.
