The African Export-Import Bank (Afreximbank) said Tuesday it has underwritten $2.5 billion of a $4 billion senior syndicated term loan for Dangote Petroleum Refinery and Petrochemicals FZE. Afreximbank and Access Bank were appointed co-mandated lead arrangers for the five-year facility to consolidate existing financing, optimise its capital structure, and align with the refinery’s operational status…
The Nigerian Government is set to accelerate telecom infrastructure development in rural areas, targeting the installation of 1,000 new telecommunications towers in 2026 as part of a broader strategy to expand digital connectivity and bridge longstanding access gaps. Bosun Tijani, Minister of Communications, Innovation and Digital Economy, disclosed this on Tuesday in Abuja during a…
The Federal Government has unveiled a N12bn Digital Economy Research Fund aimed at strengthening evidence-based policymaking and supporting Nigeria’s long-term digital transformation agenda. The Minister of Communications, Innovation, and Digital Economy, Bosun Tijani, disclosed this in a statement issued on Saturday, announcing the launch of an expression of interest for the National Digital Economy Research…
The Niger Delta Development Commission has commenced an emergency upgrade of the electricity supply to its headquarters complex by formally handing over the project to Income Electrix, an integrated power company. Speaking during the handover ceremony at the NDDC headquarters, the Director of Community and Rural Development, Engr. Theophilus Alagoa, said the project was an…
The Federal Government and power generation companies have disagreed over the reconciliation of debts in Nigeria’s electricity market, with both sides offering differing accounts of the actual liabilities owed to the GenCos. The Minister of Power, Adebayo Adelabu, said the actual debt owed to generation companies may be significantly lower than widely reported, as ongoing…
The Nigerian Upstream Petroleum Regulatory Commission has signed a Petroleum Exploration Licence No. 5 agreement with SeaSeisGeophysical Limited, authorising the company, in partnership with the Commission and TGS, to undertake the acquisition and processing of new 3D seismic and gravity data. The three-year deal, signed at the Commission’s headquarters in Abuja on Tuesday, is expected…
The Nigerian Electricity Regulatory Commission (NERC) has inaugurated a new forum aimed at enhancing coordination and effectiveness in electricity regulation across Nigeria. The forum was inaugurated during the first quarter 2026 Regulatory Meeting with State Electricity Regulators (SERs) in Lagos. This was disclosed in a statement shared on X by NERC on its official handle…
The Central Bank of Nigeria has approved the full repatriation of export proceeds by international oil companies, allowing them unrestricted access to 100 per cent of their foreign exchange earnings through authorised dealer banks. This is a significant departure from the phased framework that has governed their forex access since 2024. The directive, contained in…
The Nigerian National Petroleum Company (NNPC) Limited has thrown its weight behind Executive Order 9, arguing that it will improve financial transparency in the energy sector. NNPC Limited’s Group Chief Executive Officer (GCEO), Bayo Ojulari, said this on the sidelines of the CERAWeek by S&P Global in Houston, United States. “Regarding Executive Order 9, the…
Esso Exploration and Production Nigeria Limited, an affiliate of ExxonMobil, broke ground Tuesday on a permanent Shore Base facility at the Lagos Deep Offshore Logistics Base, becoming the first international oil company to fully fund the construction of such infrastructure within Nigeria’s premier deepwater logistics hub. The ceremony at LADOL’s Apapa Port complex drew senior…
