News Update - Deutsche Partners Holding

Nigeria Seeks $2.2 Billion Private Sector Investment to Achieve 30,000MW Power Ambition

Leave a Comment / News Update, Nigeria News / By Akinrinde Dorcas

Nigeria’s drive to boost electricity generation capacity to 30,000 megawatts (MW) by 2030 hinges on a major push for $2.2 billion in private sector investment, aimed at revitalizing the country’s aging and overstretched transmission infrastructure. This urgent call for funding took centre stage at a recent Power Sector Summit convened by the House of Representatives Committee on …

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NGX Group Position Nigeria’s Capital Market to the Forefront of Africa’s Finance

Leave a Comment / Finance, News Update / By Akinrinde Dorcas

Nigeria’s capital market is undergoing a historic resurgence, fueled by clear regulatory signals, bold economic reforms, and growing investor confidence. At the heart of this transformation is the Nigerian Exchange Group (NGX Group), under the leadership of its Group Managing Director and CEO, Temi Popoola. His forward thinking strategy is not just revitalizing the market, …

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IMF Warns of Rising Cryptocurrency Risks as Nigeria Emerges Global Leader 1,511% in five years

Leave a Comment / Financial Advice, News Update, Nigeria News / By Akinrinde Dorcas

The International Monetary Fund (IMF) has issued a warning over the increasing risks associated with cryptocurrency use in emerging markets, placing Nigeria at the center of global concern. With the global cryptocurrency market surging by 1,511% to $3.4 trillion between 2020 and 2024, Nigeria has become one of the top three countries for crypto adoption, …

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Nigerian Stock Market Records Historic N1.8 Trillion Gain in Landmark Rally

Leave a Comment / Finance, News Update / By Akinrinde Dorcas

The Nigerian Stock Exchange, operating under the Nigerian Exchange Group (NGX) Limited, achieved a historic milestone as investors gained an unprecedented N1.806 trillion in a single day. This remarkable surge reflects renewed investor confidence in Nigeria’s equities market, driven by improved liquidity conditions and the positive sentiment surrounding ongoing economic reforms. The market’s performance was …

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NAIRA CONTINUES FREE FALL AGAINST THE DOLLAR

Leave a Comment / Finance, News Update, Nigeria News / By Akinrinde Dorcas

The naira/US dollar exchange rate fell by 0.69% on Thursday morning, September 29, 2022, to trade at N730/$1 in the parallel market, down from N725/$1 on Wednesday.According to information obtained from black market traders, this is the case.Similarly, the official Investors and Exporters window recorded a 0.01% depreciation to close at N436.37/$1 on Wednesday, September 28th 2022, from N436.33/$1 the previous session.Meanwhile, on Wednesday, September 28th, 2022, a total of $119.49 million was traded on the official market, a 20.17% increased from $99.43 million traded on Tuesday.

NIGERIA’S NNPC BECOMES PRIVATE

Leave a Comment / Finance, Mergers , Expansions & Acquisitions, News Update / By Akinrinde Dorcas

The official unveiling took place on July 19, 2022, at the presidential banquet hall in Abuja .The company’s operations will now be regulated by the Companies and Allied Matters Act (CAMA). The legal transition, based on the new Petroleum Industry Act (PIA), took effect July 1. The NNPC Limited was then floated with an initial …

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Nigeria’s energy generation rises to 89,648MWh

Leave a Comment / News Update, Regulatory body report / By Akinrinde Dorcas

On Monday, May 23rd, 2022, Nigeria generated a total of 89,648.54MWh, a 5.2% increase over the 85,209.68MWh generated the day before. On Monday, power supply jumped by 5.2% to 88,390.76MWh, up from 84,045.52MWh the day before. This is According to the Nigerian Transmission Company (TCN).Despite the little increase, Nigeria’s energy generation remains below the 105 kMWh threshold required for the country’s power supply to be stable. Nigerians, in particular, continue to suffer from epileptic power supply, with three system outages thus far in 2022, resulting in extensive blackouts across the country. Additionally, Nigeria’s energy generation peaked at 3,943.2MW, which is 5.1% higher than the 3,751.1MW peak recorded on Sunday, while off-peak generation rose to 3,424.8MW. Highlights (23rd May 2022) Peak generation – 3,953.2MW (+5.1%) Off-peak generation – 3,424.8MW (+1.9%) Energy generated – 89,648.54MWh (+5.2%) Energy sent out – 88,390.76MWh …

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CBN RAISES INTEREST RATES TO 13%

Leave a Comment / Finance, Investment, News Update / By Akinrinde Dorcas

In an attempt to absorb excess liquidity ahead of the 2023 general elections, The Central Bank of Nigeria (CBN) has raised the Monetary Policy Rate (MPR) to 13.5% The Monetary Policy Committee (MPC) of the apex bank of Nigeria concluded its three-day meeting on Tuesday, May 24, 2022. At the end of the meeting, the …

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OIL PRICES CROSSES A $100 PER BARREL FOR THE FIRST TIME IN 7 YEARS

Leave a Comment / Finance, News Update / By Akinrinde Dorcas

For the first time since 2014, Brent oil prices has moved past $100 a barrel, as Russia-Ukraine crises continue to escalate. These tensions subsequently sparked fears of disruption to the region’s critical energy exports. Russia is a major energy supplier to a number of countries, distributing about ¼ of Europe’s oil requirements and 1/3 of …

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Federal govt push-Up Disbursement of CBN’s N140bn Solar Intervention Fund

Leave a Comment / Finance, News Update, Regulatory body report / By Akinrinde Dorcas

The federal government of Nigeria is pushing up the disbursement of the N140 billion solar intervention fund, this is being facilitated by the Central Bank of Nigeria (CBN) to close the wide gap in the energy sector, especially in Nigeria’s rural communities. During the last quarter of 2020, the CBN had presented the fund that …

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Nigeria Seeks $2.2 Billion Private Sector Investment to Achieve 30,000MW Power Ambition

NGX Group Position Nigeria’s Capital Market to the Forefront of Africa’s Finance

IMF Warns of Rising Cryptocurrency Risks as Nigeria Emerges Global Leader 1,511% in five years

Nigerian Stock Market Records Historic N1.8 Trillion Gain in Landmark Rally

NAIRA CONTINUES FREE FALL AGAINST THE DOLLAR

NIGERIA’S NNPC BECOMES PRIVATE

Nigeria’s energy generation rises to 89,648MWh

CBN RAISES INTEREST RATES TO 13%

OIL PRICES CROSSES A $100 PER BARREL FOR THE FIRST TIME IN 7 YEARS

Federal govt push-Up Disbursement of CBN’s N140bn Solar Intervention Fund

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