IMF rating confirms resilience of Nigerian economy

The Accountant-General of the Federation, Alhaji Idris Ahmed, has said that the recent announcement by the International Monetary Fund that Nigeria has the largest economy in Africa, demonstrates the resilience of the economy… Read more

Nigeria Seeks to Revive Dormant $4.5 Billion Steel Mill in 2016

Nigeria is aiming to hand over the $4.5 billion Ajaokuta steel complex to private operators this year as part of a plan to kick start its industrial and mining industries, Kayode Fayemi, the country’s minister of Solid Minerals Development, said. Construction of Ajaokuta, which lies on the Niger River and was supposed to have an […]

Nigeria LNG offers to pay 50% construction cost of N60 billion Bonny-Bodo road

The Nigeria LNG Limited (NLNG) on Tuesday offered to provide 50 per cent of the total N60 billion required by the federal government and its agencies to construct the Bonny-Bodo Road. The road, handled in conjunction with the Niger Delta Development Commission (NDDC), has been one of the long-standing government projects in the Niger Delta. But, […]

Nigeria to sharpen focus on transport infrastructure

A multi-billion-dollar overhaul of Nigeria’s transport network is gaining pace as the country looks to plug infrastructure gaps and stimulate economic growth. As with many hydrocarbons producers, lower energy receipts have put downward pressure on government spending, prompting Nigeria to look to private sector and foreign financing to help fund its rail and aviation projects. […]

Experts urge govt to build concrete roads

Concrete roads have been identified as a dependable option to solve Nigeria’s infrastructure deficit, especially roads. The Managing Director of AG-Dangote Construction Company Ltd., Ashif Juma who spoke yesterday insisted that concrete roads, apart from lasting longer than asphalt roads, cost about 23 percent less compared with asphalt roads. Juma, a Brazilian and an expert […]

With high population growth, Africa’s urban infrastructure under huge pressure

National representatives, local authorities and urbanists from across Africa are gathering in Nigeria for a key regional meeting in the run-up to the Habitat III conference. ABUJA, Nigeria — Rapidly expanding populations in most African cities accompanied by slow economic growth rates are straining urban infrastructure, ?experts and stakeholders noted at the opening day of […]

$25b Infrastructure Fund elicits global interest, says Osinbajo

The Federal Government’s plan to raise a $25 billion Infrastructural Fund from the global community and establish long term bankable projects is gaining traction,  Vice President, Prof. Yemi Osinbajo, has said. “We have seen considerable favorable interests from some sovereign wealth funds and other nations,” the VP told a delegation of the Lagos Chamber of […]

Lagos Set to Partner Austria on Economic Infrastructure

The Lagos State Government has expressed readiness to partner Austria in areas of mutual interest in order to create investment opportunities, jobs and reduce unemployment. State Commissioner for Economic Planning and Budget, Akinyemi Ashade made this disclosure recently at a meeting with the visiting Austrian Vice Minister for Foreign Economic Policy and European Integration, Bernadette […]

IMF backs Buhari govt’s efforts at promoting targeted infrastructure in power, others

LAGOS — The International Monetary Fund, IMF, yesterday, said it was supportive of the Federal Government’s ongoing efforts at promoting targeted and core infrastructure in power, integrated transport network, housing; reduce business environment costs through greater transparency and accountability, and promote employment of youths and female populations. It also said that “adopting a sound Petroleum […]

Deloitte reveals $222bn worth of African infrastructure projects in new report

Slightly over $222 billion is being invested in 322 African infrastructure projects that meet the criteria of project value above $50 million, according to a new African construction trends report by tax, financial advisory and consulting firm, Deloitte. This level of investment is substantial, and holds a high expectation from stakeholders, according to Deloitte. The […]