AfDB approves $15m infrastructure credit for Nigeria

The Board of the African Development Bank has approved a $15m investment package for Infrastructure Credit Guarantee Company, to support infrastructure financing through the domestic debt capital markets in Nigeria. The investment package to InfraCredit comprised a subordinated loan of $10m and a risk sharing facility of up to $5m. AfDB stated that the intervention…

Nigeria: USAID Launches $300 Million Agribusiness Investment in Nigeria

Nigerian entrepreneur Fajemi Gognaje, 35 years old, started a new business in 2016, selling agricultural inputs like seed and fertiliser. Under a new contract with Cultivating New Frontiers in Agriculture (CNFA), an international agricultural development organisation, the U.S. Agency for International Development (USAID), recently launched the new Feed the Future Nigeria Agribusiness Investment Activity. This…

No new gas projects will be approved without a zero flare policy – NNPC

The Nigerian National Petroleum Corporation (NNPC) has expressed its commitment to a zero gas flare regime for every new gas project, even as it trains its sights on commercializing existing gas flare projects for the benefits of the host communities and Country at large. Group Managing Director of the NNPC, Dr. Maikanti Baru, stated this…