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AFDB Commits $1.2m To Support Nigeria Battery Energy Storage System 

The African Development Bank (AFDB) says it has committed 1.2 million dollars grant to support the feasibility study of the Nigeria Battery Energy Storage System (BESS). The grant is under AfDB’s under Energy Transition Catalyst Programme Dr Abdul Kamra, Director-General, Nigeria Country Department, (AFDB) made this known at the Inaugural Workshop of the BESS Feasibility…

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NNPC Reaffirms Commitment To Port Harcourt Refinery, Rejects Privatisation Rumours

The Nigerian National Petroleum Company Limited (NNPC Ltd.) has dismissed suggestions of a possible sale of the Port Harcourt Refining Company, asserting that the facility will remain under government ownership as it undergoes comprehensive rehabilitation. Bashir Ojulari, Group Chief Executive Officer of NNPC Ltd., addressed the matter during a corporate town hall meeting held at…

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CBN: Early Exit Package Voluntary, Not Targeted At Northerners

The Central Bank of Nigeria (CBN) has reiterated that its Early Exit Package (EEP), implemented in 2024, was entirely voluntary and not aimed at targeting or destabilising Northern staff. CBN’s Deputy Governor in charge of Economic Policy, Muhammad Abdullahi, made this clarification on Wednesday in Kaduna at a two-day Interactive Session on Government-Citizen Engagement, organised…

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Equity Market Sustains Bullish Rally by 2.03% as Capitalisation Hits N87 Trillion

The Nigerian stock market continued its upward trend with a gain of N1.74 trillion on Tuesday. Market capitalisation rose by N1.74 trillion, or 2.03 per cent, closing at N87.191 trillion, compared to N85.455 trillion recorded on Monday. Similarly, the All-Share Index (ASI) climbed by 2,746.36 points, or 2.03 per cent, to reach 137,912.87 as against…

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Nigeria Commits $538m On SAPZ – Shettima

Vice-President Kashim Shettima said Nigeria has already committed $538.05 million to the first phase of the Special Agro-Industrial Processing Zones (SAPZ) programme. Shettima made this known on Tuesday  at the United Nations Food Systems Summit Stocktake (UNFSS+4) in Addis Ababa, Ethiopia. The News Agency of Nigeria (NAN) reports that SAPZ is  a flagship initiative aimed…

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Dangote Cement Sponsors Africa Housing Show

The Dangote Cement is sponsoring the Africa International Housing Show (AIHS) which opened on Monday at the Transcorp Hilton, Abuja. A statement from the company said aside from the sponsorship, the company is also participating in the event, which is the 19th in the series. The statement signed by the spokesman of the company, Anthony…

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CBN Maintains Lending Rate At 27.5%

The Central Bank of Nigeria (CBN) has, once again, kept its key lending rate, known as the Monetary Policy Rate (MPR), at 27.5 per cent. The Governor of CBN, Yemi Cardoso, announced the decision on Tuesday in Abuja, following the 301st Monetary Policy Committee (MPC) meeting. Cardoso said that all 12 MPC members voted unanimously…

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