The Federal Government of Nigeria has signed a €10 million Euros aid agreement with the German Government to eliminate polio in the country, according to Foreign Affairs Minister, Geoffrey Onyeama. He said: “As you know, we have come very close to eradicating polio in the world, but you know there are still one or two issues. The problem we have in the north east has exacerbate the...

The Federal Government of Nigeria has secured a $300 million World Bank facility to support a new housing scheme designed to improve access to finance for housing projects in the country. Known as the National Housing Finance Programme (NHFP), the scheme is a Public Private Partnership (PPP) aimed at improving low-income earners’ access to own personal homes with a guaranteed credit from...

The Transmission Company of Nigeria (TCN) says it has added another 60MVA power transformer to the existing ones at the Hadejia132/33KV substation in Jigawa state. This is in line with efforts to boost power supply in the country. Speaking in a statement, Seun Olagunju, the General Manager, Public Affairs at TCN, said the addition of the transformer will increase the station’s capacity by 48MW...

Shell is considering investing in a gas project in Niger Delta, Osagie Okunbor, the Managing Director of Shell Petroleum Development Co. of Nigeria (SPDC) revealed on Tuesday. He said the company is close to making a final investment decision on a project. The venture would have a production capacity of 300Mmcf of natural gas per day, Okunbor added without stating the amount of money to be...

The Société Tunisienne d’Electricité et de Gaz (STEG) signed with Japanese firm Mitsubishi Hitachi Power, an agreement to build a 450MW power plant in Radès. The infrastructure comes to replace a previous plant established in the region since 1980. The new plant will be located close to the old one and will be commissioned in two stages, the first in 2019 and the second in 2020. The...

In a statement released on June 19, the International Monetary Fund (IMF) has announced that it has approved a $224.8 million additional credit for Cote d’Ivoire, in the framework of an Extended Credit Facility (ECF) and Extended Fund Facility (EFF). "The Board ... approved an augmentation of access under the two arrangements by about US$224.8 million or 25 percent of the country's...

During a TV programme aired by national channel RTD, it was revealed that the Central Bank of Djibouti (BCD) will launch in the coming days its digital currency. “According to the apex bank’s governor, Ahmed Osman Ali, the project falls in the framework of a plan to modernize Djibouti’s financial system with the support of World Bank,” Xinhua reported. “With the digital currency, the...

Starting from December 2017, tourism activities such as elephant rides could be stopped. This is as a result of a campaign led by international agents for the closure of tour activities involving wild animals. The agents even offered to provide money and clients to tourism agencies that will agree to put an end to these activities. Some firms agreed to stop the activities. One of them is Zambian...

Abu Dhabi-based Telecoms Company, Etisalat, on Tuesday said it has been ordered to transfer its 45% interest in Etisalat Nigeria to a loan trustee after debt restructuring talks failed. The Nigerian unit said it had been in talks with lenders to restructure a $1.2billion loan after missing a payment deadline but the discussion had not yielded any agreement. Etisalat added that the syndicate...

The Federal Government of Nigeria plans to increase the collection of revenues from taxes and customs duties to finance the record $22.99 billion 2017 budget, according to Udoma Udo Udoma (photo), the Minister of Budget and National Planning. He said the government is intensifying efforts to find the necessary resources to implement its spending plan for this year which was signed into law...