BoI
NCDMB sets up $20 million loan support for women in business
The Nigerian Content Development and Monitoring Board (NCDMB) has announced the setting up of a $20million loan scheme to support women in business especially in the oil and gas sector. Executive Secretary of the Board, Engr. Simbi Wabote, stated this at a virtual roundtable by the Diversity Sectoral Working Group (SWG) of the Nigerian Content Consultative Forum (NCCF). In his remarks, Wabote stated that the mandate of the Board has always been the need to promote local content in every sphere of the oil and gas sector. Quoting Section 57 of the NCDMB Act, he said the role of the Nigerian Content Consultative Forum is to provide a platform for information sharing and support in order to chart way for local content development in Nigeria. According to Wabote, “The basic aim of the NCCF is t...
Bauchi government commences construction of N7.3 billion road projects
The Bauchi State Government on Tuesday commenced the construction of three strategic roads with the sum of N7.3 billion in the state. Newsmen report that the new roads include a 13.5 kilometres road from Warji in the state to Gwaram in Jigawa. Others are 11.6 kilometres road from Bogoro to Lusa and Malar communities as well as 11.2 kilometres road from Boi to Tapshin, communities in Bogoro LGA bothering Plateau State. Speaking during the event in Warji Local Government, Gov. Bala Mohammed, said the roads were carefully selected in order to deliver a well thought-out project to the teeming populace. He said the state had already made 30 per cent advance payment and the roads were to be completed within 24 months. “The roads where constructions are flagged off today were carefully selected i...
#EndSARS: Lagos Chamber reschedules international trade fair
The Lagos Chamber of Commerce and Industry (LCCI) says that it has rescheduled the 2020 edition of the Lagos International Trade Fair. Dr Muda Yusuf, Director-General of LCCI, said that the fair which was scheduled to hold from Nov.5 to Nov. 15, 2020 has been rescheduled for between Dec. 4 to Dec. 13, 2020 at the Tafawa Balewa Square, Lagos; both physically and virtually simultaneously. Yusuf in a statement on Thursday also said that the postponement was occasioned by the economic disruptions brought about by the COVID-19 pandemic and the recent #EndSARS protests across the nation. “The resolve to hold the 2020 edition of the fair is in line with the need for quick restoration of normalcy to the economic and commercial activities in Lagos State and our support for the ongoing ‘Protect Lago...
Afreximbank clinches African Banker’s Debt Deal of the Year award
The African Export-Import Bank (Afreximbank) has been announced the winner of the Debt Deal of the Year Award at the 14th Annual African Banker Awards 2020. The awards, which held virtually on Wednesday, recognized institutions and individuals driving growth and development in Africa and creating new economic opportunities for citizens and communities across the continent. The Debt Deal of the Year Award was granted to Afreximbank for a EUR 1 billion syndicated senior loan facility arranged with Credit Suisse for Nigeria’s Bank of Industry. The funds have supported the Bank of Industry’s (BoI) work expanding, diversifying and modernizing Nigeria’s industrial sector. Having originally been sized at EUR 750 million, the debt raising was successfully upsized to EUR 1 billion through a general...
