Nigeria’s central bank is set to replace the external members of its monetary policy committee who say they have been sidelined ahead of a meeting in February. This comes amid an ongoing shakeup of the institution.
Monday, January 29, 2024
Central bank of Nigeria to replace policymakers as shakeup continues
Saturday, January 27, 2024
Video - Nigeria vs Cameroon | AFCON 2023 HIGHLIGHTS
Nigeria defeated Cameroon and advanced to the Quarter Finals of AFCON 2023
Friday, January 26, 2024
Video - Farmers in Nigeria plead with government over insecurity
In Nigeria, farmers are calling on the government to make their communities safer so they can help relieve a food-security crisis in the country. The plea comes as village leaders complain they are not able to spend time tending to their crops because they fear being attacked.
Related story: Video - At least 30 people killed in the latest violence in Nigeria
Video - More security personnel deployed to Plateau state in Nigeria after December attacks
Villagers missing in Nigeria two days after suspected nomadic herders kill 140
Nigerian company begins operating $1.3 billion Chinese-funded power plant
LAGOS, Jan 25 - Nigeria's Mainstream Energy, which already runs two of the country's biggest hydroelectric plants, has begun operating a new Chinese-funded facility, nearly a year after winning the concession, the utility said on Thursday.
Mainstream Energy Solution Ltd said its subsidiary Penstock Energy Ltd is running the new 700 megawatts plant in Zungeru, central Nigeria, which has been built with a $1.3 billion loan from China.
Nigeria's privatisation agency, the Bureau of Public Enterprises (BPE), last February awarded the concession to Mainstream Energy, which will pay the Nigerian government $70 million annually over three decades to operate the plant.
"This is where the real work starts in ensuring that the asset is managed in accordance with international standards," Mainstream Energy CEO Audu Lamu, said in a statement on Thursday.
Over the last decade, China has been active in Nigeria, providing finance through its development bank to build infrastructure including rail, airports, and power generation plants.
The Mainstream Energy-run Kainji and Jebba hydroelectric plants have a combined output of 1,338 megawatts which accounts for about 33% of Nigeria's current 4,000 megawatts power generation.
Much more is needed as millions of households and businesses suffer frequent blackouts.
By Isaac Anyaogu, Reuters
Related stories: Video - Nigeria grapples with higher electricity prices amid supply constraints
Nigeria to sell power distribution firm over $130 million debt
Thursday, January 25, 2024
Video - At least 30 people killed in the latest violence in Nigeria
Authorities say assailants stormed a village in the Mangu Local Government area and two additional nearby communities on Tuesday. In addition to the deaths, several buildings, including a market and worship centers were destroyed.
Related stories: Video - More security personnel deployed to Plateau state in Nigeria after December attacks
Villagers missing in Nigeria two days after suspected nomadic herders kill 140
Subscribe to:
Posts (Atom)